E-commerce Business Models that Work in 2018!
E-commerce Business Models that Work in 2018! –
So, you are looking to expand your current investment portfolio,
or, you are brand new to the buying world of E-commerce.
Either way, you have made the right decision, to look for E-Commerce
Businesses for sale in 2018! Even, if you are not in the position to
buy or sell an e-commerce online business right this second, you will understand
what indicators and markers to look for when you do decide to buy or sell.
This can make all the financial and long-term difference, in your eCommerce business success.
E-commerce Business Models – Long-Term Success?
This is because according to statistical research studies
E-commerce Business Models are expected to increase by over 78 percent by the year, 2020.
E-commerce Business Booming? – Yes, you heard this right, 78 percent increase, by the year 2020.
At the time of writing this piece, 2018, a 2-year gap to reach this astronomical incline,
is just beyond the horizon. So, with all this online attention, and earning potential for
capital for both new and old investors alike, a focus on these
types of business models will be addressed.
This information will help sort out your next e-commerce business buy,
or e-commerce business builds. Either way, to participate in this e-commerce
boom, is one that should be recognized in the year of 2018.
Article Discussion of eCommerce Business and Building
This article piece will dive into the discussion and topics of the following:
1. How has the increase of E-Commerce Business affected the Retail Business Marketplace?
2. The New Trends in E-commerce Business for 2018 – Emerging trends, due to the increasing e-commerce industry.
3. The Steps to building an E-Commerce Business in 2018!
4. How to Sell an E-commerce Business?
However, before we can start our dive into E-commerce Business Models,
let’s look at a few definitions, commonly used in the online
business marketplace for a greater understanding.
E-commerce Business Models – Definitions
Definitions: What does E-commerce Mean? Great question, since
this is the foundation of your online search or inquiry, for future decision
making and online business use. Yes, the numbers of E-commerce
Trends look appetizing, but until you understand the groundwork,
you will not hit your full profit potential.
And no one likes to be off the mark when practicing with targets!
Practical Matters of Ecommerce
We compiled a few resources to give the best overview of the definition,
not just for learning purposes, but also for practicality purposes.
products, goods or services by a business. In the world of e-commerce,
these goods are purchased by consumers online, through an e-commerce site.
The act by which an online business supplies goods to an online consumer,
without the need for any paper documents, to exchange the transaction is the true
difference in that of a retail business, and one that exists completely online.
This definition provides the real and practical difference between a retail business and
one that exists entirely online. The transfer of goods and the
entire buying transaction process is done entirely online.
These buying functions are now available, through the electronic channel and
means of an entirely different business model, e-commerce.
“Electronic Commerce” or e-commerce – The Beginning
According to Wkiversity, the original definition
evolved from its original practice, just showing online or electronic shopping.
Now, if you consider the term e-commerce, you can see that it has many
different areas of functionality, in part with the help of the Internet and Online Web Technologies.
This enabled the process of electronic commerce to expand and develop beyond any
singular buying online process. There can be a combination of what is also known
as the “click and mortar building front.”
You guess it! – The online establishments or online stores, are also known as,
click and mortar businesses. The brick and mortar version is the more
traditional retail storefront locations. You may see them as you drive to run
your local errands. This is where you walk into the actual establishment and buy
your tangible product in the physical form.
Physical Form of Business
Think of a physical bank location or a retail mobile phone service shop.
Both business establishments are that of brick and mortar.
However, this is where the combination of the two, can
intermingle to create a more streamlined business.
For example, a local insurance agency has a retail shop located
in Los Angeles, California, been there for years.
The agency owner has built up a nice commercial insurance book over the course of 3 decades.
Now, the owner of this retail storefront business is looking to do
what most business owners want to do, which is to create,
How do you expand and grow your business operations in order to fulfill this wish?
Great question, and what brings us to our next areas of discussion,
online technology and integration.
E-commerce Business Models for Online Business Growth
Online Technology Integration to Expand Current Business Profits –
So, how do you grow your current business, or
find new business opportunities for future business success?
You guessed it, the information and technology age of doing business.
The two go hand in hand. That is information and technology.
Without balanced and researched information and industry insight,
new technological ways of doing business might not be discovered.
So, we salute the introduction of technology in the world of retail businesses,
since this is an actionable step to increase business profits, Now, in 2018!
So, let’s look at some of these steps, you can take for your current retail business,
or future business exploration, as a retail business owner.
Actionable Steps to Technology Implementation in Retail Business
What actionable steps can you take now, if you are a current retail business owner?
Think about operating your business completely offline for this business scenario.
You guess it, go online, and integrate your current retail business model,
with that of an e-commerce business model.
How do you do this?
Implementation of E-commerce Technology
This is through the incorporation of new technology, and
trends into your current business model, and not just building a website.
This is because of the building of a business without a strategized plan
for current trends, is just setting your business up for failure.
So, make sure you are following advice from business experts in the field,
as well as the most current technological trends.
This will help you keep an edge for the competition since technology
is ever evolving at an increasingly rapid pace.
Local Insurance Retail Owner – (Example Review)
Let’s use a local insurance agency for the example of technology
integration with a traditional retail shop.
Because it will give a great overview of how an integration of e-commerce
and retail can come together with great success.
So, in this example, the insurance agency owner could build an online
website to facilitate the online user base already in place.
This new insurance website, would not only help serve the current client base
but also, to attract an entirely new one.
Online Web Technology and Tools 2018
This is achieved through the fundamentals of building an online website,
the right way, which will be discussed in later chapters with
the “steps to building an online business”.
For the time being, we will examine how the retail insurance owner can
prosper from the creation of the new online website.
In this example, the website alone, would not be achieving the desired results
of what an e-commerce business model should look like.
This is because the website needs to have functions and technology to
support this new online market and business approach.
For example, web technology tools, such as web tools executed by Amazon, can help expedite this online business process.
So, it is the process of the two, that is, the brick and mortar example,
with a click and mortar business model.
Ecommerce – Combination of Transactions?
So, what does this combination mean?
It means that the actual transaction process can be started and finished
either through a website or a physical site.
The option of two sources can help attract a new local market,
which is the new direction many Local Seo Campaigns are taking.
That is the new emerging keyword of, “near me”.
Any other word or term that follows suit to this meaning,
is also being included in the new keyword search.
This is also with the help of new web technology and services,
not always available, such as geo-targeting and marketing.
This is under the new advances in Search and Reverse Search Engineering.
Now, that you understand that other emerging trends are developing as a
result from these two processes joining together, the two, will only help to
create a powerful marketing and lead generation funnel for your future.
Types of Combined Online Selling Establishments
So, now that the framework for the meaning of Electronic commerce as
online selling has been established, let’s look at the actual services offered
through this combined business exchange. So, some examples of this cross-selling retail
exchange and electronic business model is, through the following below:
- Trip and travel arrangements online
- Medical consultations online
- Remote work and education
Business Models – Digital Format
Even though the option of having two types of business models exists,
the actual products are moving towards the digital format is what needs to be addressed.
Yes, the tangible products are still available for purchase, for example, a
newspaper or magazine business. The difference is however, the push for
more digital formats in its place.
Think of all the products now, that you can buy on a digital platform?
Online Knowledge-Based Products
You can look at the ecommerce industry, to that of a tangible catalog
shopping. Or like the home shopping network, on television.
E-commerce Business Models – Concluding Thoughts:
Now that you have explored the illustrations and definitions of what
ecommerce or electronic commerce is, you are ready for the next learning phase.
This learning phase will now explore the different types of business models
found in an e-commerce business model. These business models
will be explored in depth, to uncover the best buying models for 2018.