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The Digital Business Kit for Retailers

Learning Outcomes

Retailers will understand the different technology and strategies that can assist their retail businesses to begin or improve selling their products and/or services online. [printfriendly]

mod-arrow Selling Online Defined

These days, there are very few people who have not had some form of online buying experience as consumers. This gives us some personal insights into Selling Online – but what goes on “behind the curtain” and what is really involved as an online seller?

Electronic commerce, commonly known as eCommerce, is a type of industry where buying and selling of product or service is conducted over electronic systems such as the Internet and other computer networks. (Source: Wikipedia)

Online sales have been increasing every year and are a crucial consideration for retailers today. Online presence and sales can increase market reach, improve customer experience, make business more efficient and at the very least, support competition in the growing marketplace.

Your business stage

Starting a new business:

If you are starting a new business it is essential to consider selling online as a fundamental part of your business plan. Selling online can provide a new business with tremendous market reach. In fact, there are many new businesses whose business models are exclusively based on Selling Online.

Have a current business but new to online sales?

If you have an established business and are new to Selling Online or want to improve your online sales capabilities, it is important to determine what makes the most sense for your business. Not only can you increase your number of customers and sales, but your ability to sell online also helps to make you competitive in your marketplace and meet the challenges of global competition.

Typical process of an online sale

The typical steps involved in Selling Online include:

  1. Customer finds product (on your website or 3rd party channel).
  2. Customer can see reviews and information to allow for sale (price, features, policy, etc.).
  3. Customers call for more details or buy right away.
  4. Client adds to shopping cart or clicks to order.
  5. Transaction is processed through a merchant account or other payment method.
  6. Funds flow to your business.
  7. Client receives confirmation and receipt.
  8. Products or services are delivered.

An essential first step is to attract potential customers to your website – your online store – a topic covered fully in the eMarketing module.