E-commerce is a big part of reality in many countries of the world. It is a process that has become a habit and has entered into the daily routine of both consumers and entrepreneurs. It started out as something small, but today it is the best way for a consumer to buy products and services, and an ever-increasing source of income for an entrepreneur.
The shift towards e-commerce is also growing strongly in Cyprus. The causes of this trend are the same everywhere and can be divided into the causes that lead the consumer to buy things electronically and the causes that lead the entrepreneur to sell electronically through an e-shop. But, more specifically, which are these causes?
Starting with the consumers, every year purchases are growing rapidly through e-shops and purchases are gradually being reduced through physical stores. The basic needs of every consumer, regardless of the product or service he/she wishes to buy, are the low prices in terms of quality, comprehensive and complete information about the product / service and the time he/she will spend to acquire it. All three of these needs are fully covered by a modern e-shop, which "by nature" has the ability to sell the same product / service cheaper than physical stores, presents all the necessary product / service information , provides a pleasant way of information and product /service finds and offers the possibility of immediate and easy purchases. In short, it offers no less than what a physical store has to offer.
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The reason why an e-shop can sell for a cheaper price is mainly due to the fact that, because it is electronic, it has less operating and maintenance costs. Also, an e-shop escapes the boundaries of the local market and, through the internet that is global, is addressed to a much larger group of consumers. Therefore, it is natural to have more customers and make more sales. And because these two are intertwined, an unbreakable cycle is created where the low prices of an e-shop bring more customers and more customers can help stick to low prices in an e-shop. The above connect with each other through a very important link: the internet!
Beyond the broad geographic projection of the internet in an e-shop, an important factor is also the time limit within which the consumer has the ability to make a purchase, which in this case does not exist. In contrast to physical stores that operate only 12 specific hours in 24 hours (basically 9 am to 9 pm), 6 days a week and remain closed on Sundays and holidays, an e-shop operates 24 hours a day, 7 days a week and 365 days a year, and without this having any impact on its operating costs. It is now clear why e-shops are gaining ground year after year. Consumers choose it because it offers them all that a physical store offers them, plus the fact that they can visit it from the comfort of their home or office, while moving or while on holiday, without losing time and money for moving to / from the store or even from a store to another one (increasing the final cost of the product). It is also accessible at any time of the day, whenever a person has free time and whenever a need arises.
People also know that it will be easier for them to find exactly what they are looking for because of the easy browsing of an e-shop, read reviews, and compare it more easily with other products, among which they will choose what suits them the most. Many consumers choose an e-shop because they instantly find all the suggestions gathered on their screen and this makes it easier for them to choose, since they do not need to jump from product to product and they are also not distracted, resulting in buying more products, easily and faster.
Entrepreneurs, on the other hand, turn to e-shops because they give them more net profits and they are much easier to manage than a physical store, as they do not require the physical presence of the employer, who may even be at home and manage his shop while sitting on his sofa!