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Everything You Need to Know About E-Commerce 2024

Digital or E-Commerce: A Perfect Path to Start a Business and Secure a Steady Income with Financial Independence
Digital or e-commerce is one of the ideal paths to start a business and secure a steady income while achieving financial independence. Its profit margins continue to grow as your expertise in e-commerce increases. Therefore, we will dedicate this article to clarifying what digital commerce is, its types, benefits, and how to learn e-commerce and start a successful project. So, stay with us through the following lines…
What is E-Commerce?
Simply put, e-commerce is the process of buying and selling services or products online. It also encompasses all commercial activities conducted over the internet, such as direct sales, retail and wholesale, advertising, marketing, online auctions, financial transactions conducted electronically between individuals and companies, and customer services. The term for e-commerce in English is written as “E-commerce.”
E-commerce has clearly outperformed traditional commerce, especially after COVID-19, which significantly impacted most real-world transactions and made the world heavily reliant on the internet. You can gain a deeper understanding of e-commerce by reading this book.
How Can Anyone Engage in E-Commerce?
Digital commerce is one of the fastest-growing and developing sectors today. It offers numerous opportunities for young people who wish to build their lives but cannot find suitable employment. It also provides great freedom, as it does not require a specific place or time to work, making it an ideal choice for those seeking freelance work. All you need to get started is to follow a series of steps that we will outline for you, combined with determination and persistence.
Step 1: Define Your Project Idea
To start a specific business project, you must first define the idea of the project. The idea should align with your interests and skills so that you are motivated to pursue it. You can generate project ideas by consulting experienced individuals in the field, seeking opinions from family and friends, and researching social media platforms to identify the most in-demand areas. The key to this step is not to fear failure and to keep trying.
Step 2: Study and Analyze the Target Market
In this step, you must thoroughly understand the market to determine the demand for the product or service you intend to work on. Additionally, you should study and analyze competitors to develop a unique competitive advantage before launching the project.
Step 3: Design an Online Store
This step marks the first tangible step in bringing the project to life. It involves creating an online store using one of the available design platforms. The process is not difficult and does not require advanced technical skills. Simply research the platforms that help build online stores, choose the most suitable one for your project, and start designing. Afterward, you can contact us at Yordis to feature all your store’s offers and discounts on our website, helping it reach a larger customer base.
Step 4: Determine the Payment Method
You must choose a reliable payment gateway to facilitate the necessary procedures and streamline the payment process. This step is crucial from the beginning to make shopping easier for customers and attract them to your store. It is best to diversify payment gateways and focus on the most suitable options based on your target audience to increase flexibility.
Step 5: Register a Domain Name
This step establishes the credibility of your business, so it should not be overlooked. It also improves your store’s visibility in search engines and enhances customer trust, serving as the online identity of your project.
Step 6: Review and Test the Store
Before launching the store to the public, conduct a thorough examination of the website to identify any potential issues that could hinder shoppers and address them. This can be done by experiencing the user’s journey, placing a few orders from your site, and monitoring the steps and how smooth they are. If any obstacles arise, resolve them to ensure a seamless user experience.
Step 7: Develop a Marketing Plan
With the increased competition in digital commerce, achieving success in this field is contingent on having a successful and clear marketing plan to reach potential customers easily. Therefore, try running effective advertising campaigns and leverage social media platforms to introduce yourself to potential customers.
Step 8: Confirm Orders
At this stage, you must obtain accurate information and specify the delivery time precisely. You should also build customer trust in the store and encourage repeat business by offering discounts, treating customers well, and delivering orders on time.
Step 9: Provide Shipping Services
In this phase, collaborate with reputable shipping and delivery companies to ensure timely deliveries to customers, maintaining their trust in the store. Additionally, offer the option to inspect the product before receiving it to give customers confidence in the quality of the products they order.
Step 10: Post-Sale Service
This service acts as the hook that re-engages customers. By offering excellent post-sale services, you make customers want to do business with you again, which increases the store’s reputation and attracts new customers through referrals from your previous customers.
At the end of this paragraph, we will share with you the story of Robert Samuel, known as “The Line Sitter” and the founder of “Sold.” His story serves as a real-life example of the success that can be achieved in this field. He came up with the idea of offering a service to stand in line for people and achieved great success, earning around $1,000 per week, which became a significant source of income that eventually made him wealthy.
Benefits of E-Commerce
The advantages of e-commerce are numerous, and the most important benefits include:

  • Saving time and effort: For both the business owner and the customer, as the customer can search for and order products from the store without leaving home or waiting in long checkout lines.
  • Providing comprehensive product information easily: Through detailed descriptions, videos, and accurate images that allow the customer to preview the product.
  • Allowing customers freedom of expression: Customers can leave comments and describe their experiences, benefiting others.
  • Easy comparison and freedom of choice: E-commerce allows customers to easily compare products and view a wide range of products and services offered by the store.
  • Reaching a larger audience and overcoming geographical barriers: This increases the store’s profits and sales.
  • Reducing costs and offering renewable job opportunities: Thanks to the absence of physical stores and the need for fewer workers, which allows for lowering product prices.
  • Creating new job opportunities: In fields such as shipping, delivery, and advertisement design.
  • Analyzing and monitoring data: By collecting and analyzing customer data to understand their preferences.
  • Earning profits around the clock: As the store allows shopping at any time, day or night, without being limited to specific hours.
  • Handling and managing large numbers of orders: By using various tools and applications that assist in this process, depending on the type of e-commerce you operate.

E-Commerce Terminology
There are several e-commerce terms that anyone entering this field should be familiar with to understand commercial transactions better. Some of the most important terms include:

  • Partial e-commerce: A mix of digital and direct commerce, where part of it takes place in the real world and the other part online.
  • SEO (Search Engine Optimization): Improving search engines’ rankings to appear on the first pages.
  • Product: The item exchanged between the seller and buyer, whether it’s a tangible product or an intangible service.
  • Engagement: Measuring the interaction of the target audience with marketers’ posts on social media.
  • Shopping Cart: A virtual basket where products are added after being selected during shopping.
  • Payment Methods: The methods through which the buyer pays, such as PayPal or Apple Pay, which encrypt and secure transaction data.
  • Checkout: The process of reviewing the contents of the shopping cart and paying for them.
  • Dropshipping: A type of e-commerce where products are shipped directly from the manufacturer to the customer.

These are not all the terms, but they are among the most important. You can check out all the e-commerce terms in a PDF here.
Types of E-Commerce
E-commerce is a vast field with various types of transactions. It is not limited to customer and seller interactions alone, but goes beyond that. To learn about all types of e-commerce, follow the list below:

  • C2C (Consumer-to-Consumer): E-commerce between individuals, known as consumer-to-consumer trade, typically carried out through online platforms and involving multiple products and services without the need for a commercial intermediary.
  • B2B (Business-to-Business): A commercial transaction between companies, where one company sells its products to another company that uses them in its operations.
  • G2C (Government-to-Consumer): E-commerce between government institutions and citizens, providing government services to citizens online.
  • B2G (Business-to-Government): E-commerce between companies and governments, encompassing all bids and tenders between governments and companies.
  • C2B (Consumer-to-Business): Transactions between consumers and companies, where the consumer offers services needed by the company, such as designers creating logos requested by companies, and so on.

Types of Online Stores
As the importance of e-commerce has grown, online stores have diversified significantly. Some of the most important types of online stores include:

  • General Merchandise Retail Stores: These stores sell all the items we use in our daily lives.
  • Service-Based Online Stores: These stores offer all types of services expected by customers, focusing on services rather than products.
  • Digital Products Providers: These stores offer digital products to customers, such as e-books, games, apps, and more.

E-Commerce in Saudi Arabia
E-commerce in Saudi Arabia ranks 25th in the global market and continues to grow day by day. It is expected to expand further in the future. There has been a significant increase of up to 60% in the online sales of certain products in the Kingdom, particularly in clothing, shoes, and media products.
It is predicted that the number of e-commerce users in Saudi Arabia will reach 26.73 million users by 2025, with an average spending of approximately $300 per person.
The popularity of digital commerce is growing daily due to its numerous benefits for customers. This trend is not limited to Saudi Arabia but is widespread globally. Today, many companies are dedicated to designing, developing, and marketing online stores. As a result, websites like Yordis, which features a wide range of stores, discounts, and offers in one place, have gained importance, allowing easy access to everything you need without the hassle of browsing multiple websites.

كل ما تريد معرفته عن التجارة الإلكترونية 2024