Retail Magik provides Business e-commerce applications that help in trading goods & services. Today more & more people prefer to buy articles with the help of retail business e-commerce application. The key factors driving the retail business e-commerce application revolution to grow their retail business are;
- Social media.
- Advances in e-commerce app development.
- Rising preference for mobile commerce.
- Other digital modes.
The role of a Retail business in e-commerce applications is the most significant on Retail Magik.
What are e-Commerce Applications?
E-commerce applications are a bit misleading terminology. It leads to two possible perceptions: one, where it refers to the use of e-commerce as a medium of marketing; retail and wholesale; auctioning; e-banking; booking, and so on.
The second idea is that of a software application like Amazon, eBay, Groupon, etc. It may be a web application or mobile application (now popularly known as m-commerce applications). Mobile e-commerce applications are nothing but an extension of e-commerce. Mobile app ideas are the driving force behind every successful business app, whether an Uber-like taxi app or a DoorDash like food delivery app.
The picture below describes the two meanings accurately. The orange color implicates the use of e-commerce applications with the first intention, and the green shows the service for the second.
Most Common E-commerce Applications
In the previous section, we briefly touched upon the two perceptions of e-commerce applications. Now, let us delve into them in more detail.
Retail and wholesale-retailing or online retailing refer to goods and services through online stores from businesses to consumers. It is achieved through means such as virtual shopping carts and e-catalogs. The applications of e-commerce in this sector are numerous.
- Finance
Finance and e-commerce are more connected today than ever. Banks and stock markets use e-commerce significantly in their operation. Online banking provides provisions such as balance checks, bill payments, money transfers, etc. Online stock trading enables people to carry out trading electronically by giving information about stocks such as performance reports, analysis, charts, etc., through websites.
- Manufacturing
In manufacturing, e-commerce forms a medium for companies to execute the electronic exchange. Combining buying and selling, sharing market status, inventory check information, etc., enables companies to carry out their operations fluidly.
- Auctioning
Applying e-commerce to auctions takes it to a more significant level where people can participate without geographical boundaries. That leads to more participation, more negotiation and helps to make auctions successful.
- Marketing
Marketing activities such as pricing, product features, and building customer relationships can be strengthened using e-commerce to provide users with an enhanced and customized shopping experience. Digital marketing strategies have become a significant way to promote businesses.
- Online Shopping
The shopping preferences of people have undergone a massive change in the last few years. “Go online” has become a mantra for all businesses to succeed. Online shopping is comfortable, convenient, and at most times, cost-effective. The prosperity of online shopping apps such as Flipkart, Amazon are proof of this.
- Mobile and Web Applications
Mobile or web application development has become a staple for brands to showcase their business capabilities. Popularly called mobile commerce or m-commerce applications, this is a subset of retail e-commerce. The consumer carries out purchases through mobile or web applications that are optimized for the retailer. These applications also ensure payment security through safe e-payment methods.
- Online Booking
Travel and tourism is a thriving industry today, and online booking is an eCommerce application that is growing as a result of it. Online booking helps people book essential travel services like train/flight tickets, hotel rooms, tourism packages, transportation services, etc. It makes travel very convenient and easy for people as everything can be set from the tip of the fingers.
- Online Publishing
Digital magazines and e-books are slowly replacing traditional printed books. It has several advantages such as portability, lightweight, accessibility from everywhere, etc. They are also environment friendly as they help in reducing paper and saving trees. Due to these reasons, online publishing or e-publishing has been seeing a rise in popularity.
- E-banking
E-banking or internet banking is an e-commerce application that has simplified time-consuming and complex banking processes for people. It enables bank users to perform transactions easily online without having to wait in long queues in banks. Every central bank has its online application today to provide virtual banking services to its customers.