Network Marketing And The Rise Of E-commerce – E-commerce has dramatically changed the way products are acquired, purchased and used. Let's take a look at the history and future of e-commerce and how you can grow your brand.
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Network Marketing And The Rise Of E-commerce
Edited by Ben Kazinik Ben Kazinik Ben runs the content operation. He has 7+ years of experience in digital marketing, having previously worked for 8 figure eCommerce brands, published articles on FastCompany, Invoca, Loox, Sindible and ShaneBarker. See Full Bio. Learn about our editorial policy
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The e-commerce industry has seen the biggest growth in retail sales in its history. More traditional retailers are selling their wares online, and more brick-and-mortar stores are making the jump.
However, many experts are skeptical. Delivery delays were common and the pendulum could have swung the other way. Sales growth has slowed from 17% to 9.7%, and some experts believe that eCommerce will continue to evolve and address those difficult performance issues.
In this article, we'll define what e-commerce is, talk about the pros and cons, and suggest the latest trends you need to jump on board to grow your store.
E-commerce (meaning e-commerce) is the process of buying and selling goods and services on the Internet. It includes online marketplaces, e-commerce platforms and various information, systems and tools for online buyers and sellers.
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Businesses can sell their products online using an e-commerce store and/or sell on e-commerce platforms and marketplaces. Brands use a variety of e-commerce marketing channels and tactics to grow sales and handle operations such as logistics and fulfillment.
An e-commerce platform is a technology used by brands to build and run their online store. Examples of platforms include sites like Shopify, BigCommerce, WooCommerce, and Magento.
An eCommerce platform typically offers brand services such as web design, listing customization, SEO (often handled by eCommerce SEO agencies), payment encryption, mobile eCommerce, and other marketing plugins or tools.
An online marketplace is an online meeting place between sellers and buyers. They come with their own target audience and usually only offer the opportunity to display products and sell them through advertising and promotion. They are places like Amazon, eBay, Houzz, Etsy, and Wish.
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An e-commerce website is a site that allows people to buy and sell physical goods and digital products. Sales are online, not brick-and-mortar.
By having an online store, a business can process orders, accept payments, manage shipping and logistics, and provide customer service all in one place. Brands that build sites using platforms like Shopify or BigCommerce can use hundreds of plugins and marketing tools to improve every aspect of their business.
Still a little confused? E-commerce works like a regular store, except that everything happens online. Here is a brief overview of the process:
This is the basic method of e-commerce, but there are different revenue models that you need to be aware of to really maximize your ROI.
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There are five main ways to make money with an e-commerce business. Here are five revenue models you can choose from:
By eliminating the middleman, a new generation of consumer brands has been created. The direct-to-consumer e-commerce model allows a brand to sell directly to its consumers, connect with its audience online, and increase sales quickly. Instead of an average margin of 10%, DTC brands can increase their margins to 30-50% using this model.
White labeling is when a brand partners with a manufacturer or distributor to create its own physical product. This means that the manufacturer produces the product and the brand can focus on technology and marketing.
Wholesale is when an online retailer offers its products at a wholesale discount. This model is traditionally used for B2B eCommerce transactions, but some companies are using it for price-conscious consumers.
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Dropshipping is when a brand sells a product that is fulfilled by a third-party supplier. Dropshipping platforms like AliExpress or Printful act as intermediaries that connect brands with manufacturers. This e-commerce model is a $95 billion market.
This is when a brand delivers its product or service at regular intervals (weekly, monthly, yearly, etc.). It is one of the most profitable business models in the e-commerce world because it improves customer lifetime value (CLV).
This model was used by English publishing companies in the 1600s to deliver monthly books to their customers. The SaaS eCommerce model took much of what worked in the 1900s and applied it to today's Internet users.
There are also different e-commerce business models that you should be aware of. And they depend on whether you sell your product to consumers, other businesses or the public sector. Let's take a closer look at each.
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It is a transaction between two businesses in which one firm offers a good or service to another firm. For example, it could be a social media tool that sells social media planning capabilities to small businesses. B2B is not a consumer and more and more B2B companies are moving to sell their products and services online.
This is the most common form of e-commerce and it involves direct-to-consumer sales. For example, if you buy a shirt from a fashion brand's website, you are conducting a business-to-consumer transaction.
B2C has grown significantly over the past few years and is expected to grow by 85% worldwide by 2023. China alone will have an estimated 1 billion online shoppers by 2023. Nasdaq estimates that by 2040, 95% of all trading will be done online.
B2A (sometimes called B2G) is when a business sells its products or services to a government agency. For example, it could be a service company that provides licensing services to a government administration, a software company, or a digital marketing agency.
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It's a traditional e-commerce transaction, but in reverse. This is where a consumer sells a product or service to a business. An example of this might be when an influencer asks a business to take a photo or video with a product. It can also include a marketplace like Unsplash where people sell stock photos to different businesses.
It is one of the earliest forms of electronic commerce involving a transaction between two consumers. A good example would be selling a used book to another consumer on Amazon or eBay. Facebook Marketplace is dedicated to C2C transactions only, where Facebook users trade and buy products from each other.
C2A refers to a transaction in which a consumer offers a product or service to a government agency. It could be filing taxes or scheduling a health appointment online. You may be surprised, but governments also use digital marketing consultants.
DTC is similar to B2C, but with an important difference. DTC brands cut out the middleman and sell directly to the consumer. They use other channels, big box stores and even online marketplaces. They like to have 100% control over customer data and personalize every touch point in the buyer's journey.
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It all started in 1979 when Michael Aldrich invented electronic commerce. He connected a modified television to a computer that processed the transactions through a telephone line. This technology has become the foundation of modern e-commerce, enabling the secure transfer of payment data.
The first e-commerce marketplace was called Books Stacks Unlimited and was launched in 1992. It later changed to books.com. Then, in 1995, Jeff Bezos launched Amazon, which became the world's largest online marketplace. It originally started as an e-commerce platform for books.
PayPal was launched in 1998, bringing a new way to transfer money and buy products and services online. Then came the big e-commerce platforms – Shopify in 2004, BigCommerce in 2009 and WooCommerce in 2011. Etsy launched in 2005 and has become the world's largest marketplace for handmade goods.
2014 saw some of the world's biggest companies enter the arena, with Walmart acquiring Jets.com in 2014 and Apple launching Apple Pay. Then, Instagram Shopping and Shoppable pins on Pinterest were launched and there you have it. Now you can easily design a store, accept payments and take orders online through social media and hundreds of other channels.
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E-commerce has grown like never before in the last few years. The advent of platforms like Shopify and BigCommerce has made it easier for brands to create online stores. Online payment gateways like PayPal, Google Pay, and Apple Pay, as well as payment processing tools like Stripe, have made accepting payments even easier.
Experts have even announced that the US made a 10-year advance in e-commerce sales in the first 90 days of the outbreak.
Look at how the US jumped
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