A very valuable guide to understanding e-commerce
Everyone talks about the profits that electronic stores achieve, but how does the store succeed in the first place so that it can achieve profits?
What does the consumer or buyer want?
How do some merchants and large companies compete in a few commodities?
The first answer is by artificial intelligence and the customer’s desire, to use technology and artificial intelligence. A large company like Amazon has an option called Amazon choice. For example, you are looking for a specific product that will give you several options, for example, the first two products give you two Amazon options.
Amazon chooses this item and this merchant based on artificial intelligence, it analyzes everything related to the product,
It analyzes the following:
- the quality
- Delivery speed
- Return feature
- And a lot of other data.
The company copies this data and puts it in its own products and gives it a priority in search engines.
- Many people can copy and imitate your product, but you cannot stand out, you can always compete and be distinguished and be better, and one of the most areas of competition that interests the buyer is the price.
- The user has many options and is very wide in the competition, but you can always attract the customer with the most attractive thing, which is the price and discounts, to the extent that it has become the most colossal company and its promise is the cheapest products
- In fact, there were expectations that there would be fierce and intense competition between the platforms of small stores and commerce giants such as Amazon and others, but the reality turned out to be very different.
- Small stores have a big role. They are actually a complement to the big stores and not a competitor. The customer has a relationship with a small store, for example, a local online store that he understands more.
- Usability of your site
- customers service
- Marketing Identity
- loyalty programs
- And many more.
- But the user experience is everything and the most important thing for your company and your store.
Why the first million? Because the first million net profit is the most difficult million, ask any successful person, any merchant, any millionaire, and he will really tell you that the first million is the most difficult and then it is easy because you start from scratch.