In this era of increasing digitisation, harnessing the power of technological advancement is paving the way for trade and commerce all over the world. As traditional commerce continues to take advantage of the power of the internet to boost sales, e-commerce emerges to make our lives even more comfortable. E-commerce is defined as a business that completes its principal business operations over Internet. Amazon, eBay, Alibaba are some of the most notable examples of such e-commerce platforms. As Bangladesh continues to be swept over by this wave, e-commerce, and especially F-commerce emerge as the new dominant player in the economy. However, does setting an e-commerce platform mean selling mere goods online? Let us have a look at a few critical points that characterises an e-commerce platform.
It is all about the experience
People prefer to shop online due to multiple reasons. It saves time, saves the trouble of visiting a store, enables us to compare numerous alternatives by price and features and sometimes even customise goods as per one's wish. While setting up an e-commerce platform, it is important to remember that like any other business, to survive you need to have repeat customers. However, for an online store that sells a product that may be available in other physical stores, the differentiating point should be the experience that customers have. Fast delivery, clear communication, helpful attitude, accommodating the customer's needs and most importantly, delivering the promised product are just a few factors that often shape up a customer’s experience of online shopping.
Gaining trust is important
The founders of Newton's Archive, a successful online business that started from scratch and is today almost a household name for the young adults, expresses that gaining the customer's trust is of utmost importance. According to them, "An e-commerce platform is about creating trust among your consumers - people you don't see in front of you - to an extent where they start loving you more for the experience you provide rather than just the product itself. When your customer chooses shopping online, it's for convenience and comfort from every aspect you can think of - so that's what you need to ensure for all steps involved in the process."
Creating happiness
Many online businesses nowadays sell unique products, which are not readily available elsewhere in the market. The trending pop culture often serves as the source of inspiration for merchandise sold on e-commerce platforms. The critical thing to realise here is that people have always wanted goodies or articles of their favourite books or TV series to cherish the connection that they feel. There was a need here, which founders of many online businesses identified and decided to serve. So, setting up an e-commerce platform is not only to sell the goods; it is to create happiness; it is to understand what the customer needs are and how to fulfil them best. It is about putting in an extra effort to create a customised product and ensuring perfection to the bits.
Unleashing the creativity
Young talented people putting their artistic calibre to work and creating unique goods start a significant number of online businesses in our country. Be it scented candles, notebooks, lamps, or even hand painted sarees -- we see creativity everywhere. These people are not just selling products; they are using their artistic minds to create masterpieces. It is not only a moneymaking activity for them; it is a reflection of their souls, their hard work, and their beautiful thoughts. It is through this that they find solace and feel empowered; selling goods is only secondary to them. To quote Samantha, the founder of Numinous, who has created a unique platform that offers collections that range from modern wear to framed illustrations and T-shirt, "Most of the times, e-commerce businesses are run by students, mums or dads who are passionate about what they do and put a lot of heart into making or acquiring the products that they put up. These become their stories, a glimpse of who they are and are so much more than just saleable items."
Being independent
With the majority of the workforce in the e-commerce sector being mainly women, it is a good step towards creating financial independence for women. Women can work from the ease of their home and earn enough to stand on their feet. It also creates a sense of purpose in life for many. It is through these small businesses that many support their families and continue to live life on their terms. It is through these online businesses that hundreds of employment opportunities are created. E-commerce is driving the economy hand in hand with traditional companies.
Creating an e-commerce platform poses just as many challenges as opportunities. Although it is difficult to weigh the pros over the cons, setting up an e-commerce platform surely is not about selling well only, it is about creating the best customer experience, gaining their trust, creating a connection with the customers and fulfilling their needs.
The writer has recently completed BBA from IBA, University of Dhaka and is currently working at a bank. She can be reached at farahaditi9@gmail.com