Created by - Ecommerce Pro
Is Ecommerce a Sustainable Solution?
It is the time when every one of us is looking for a prosperous career path. In the past, we were having multiple options available in traditional ways. But with time we have faced constraints in resource allocation. It is because of the extensive use of resources. However, resource depletion opens up concerns for future generations. Moreover, we couldn’t find a solution yet. Isn't it? No! The answer is quite simple: we can still find a gap where the resource can be utilized more efficiently. In the current scenario, we do have multiple domains available which can be useful for resource allocation. Ecommerce is the best solution to utilize resources efficiently. The question that arises here is how it could have been possible? To answer this question, let’s have a decent understanding of ecommerce first. Ecommerce is the digital way of trading, mainly buying and selling products using digital sources as the market medium. However, this way of trading can easily be available for buyers and sellers sitting anywhere around the globe. Now it is easy for everyone to participate in business activities without exploiting the resources. The question here is how we can attain efficiency in resource allocation using Ecommerce? The answer has twofold dimensions according to resource type. Firstly, capital has a vital role in running a business, and Ecommerce could help utilize the natural and money capital efficiently. As we know that natural capital comes from natural resources, it is important to observe that natural resources are limited therefore, Ecommerce is the source of earning where there is less probability of the need for these resources, it does not require a big building, land, working labor, huge amount of electricity or natural gas and other equipment, that is primarily required in traditional businesses. Furthermore, we usually face constraints in generating the financial capital required for starting traditional businesses. However, the solution could be found in Ecommerce industries where we do not need a huge amount of money capital. An Ecommerce business could start with a very small investment. So, everyone could enjoy the fruits of entrepreneurship. Secondly, Ecommerce is a sustainable source of earnings as it has net present value and approximate future value. If one starts an Ecommerce business he or she may be able to earn the benefits for a long time. It also has a future way forward as there is no limit to digital resources so the future generation could get its benefits. Moreover, Ecommerce is a vast field with multiple dimensions and still many things are getting discovered with time. It could be worth saying that Ecommerce is a future-oriented career opportunity. So, opting for Ecommerce as a career path could be a long-term sustainable earning source. It is now necessary to know that Ecommerce is the future so what do we need to do? We have to move toward digital ways of earning and out of that Ecommerce is the best choice. Let’s visit a few of the Ecommerce statistics as you can see approximately 768 Billion USD revenue was generated in the USA from retail Ecommerce in 2021. Similarly, 4.9 Trillion USD revenue was generated worldwide in the same period. However, future forecasts represent a 50 percent increase by 2025. It is concluded that Ecommerce is the best income source which is also a useful and sustainable approach. It helps in generating income opportunities while using the natural and money capital efficiently. Its multi-dimensional approach could be useful for future generations as the digital business could excel with the new technology. It could also help in providing a sustainable environment, as Ecommerce is a digital business and the use of land and building is not required. It is suggested that as developed countries are moving toward Ecommerce, developing countries should also move toward this sort of business activity to achieve their sustainability goals which will accelerate the economic growth and overcome their unemployment and poverty issues.
More detailsPublished - Sun, 20 Mar 2022
Created by - Ecommerce Pro
What Is Essential for Selling the Product?
What Is Essential for Selling the Product? It is observed globally that people associated with selling products are highly paid independent employees. Now we wonder what the term independent employees means? People who belong to the selling business are independent of earning money, there are no restrictions and constraints on selling products. A salesman can earn 1$ and up to infinity depending on his efforts and vision. This is why we call a sales job an independent job. But, yet again, the sales job is not as fruitful for everyone. The reason lies behind the way we sell our products. What matters is our technique to sell a product. We usually face hurdles in selling the products, such hurdles are lack of product knowledge, market information, and customer trust. To solve these hurdles we need to learn six essential rules of selling- product knowledge, market information, the urgency to purchase, time barrier, financial constraints, and trust issues- which can help a salesman to sell his products more efficiently. Let's now go through each point we have shared above, gradually. For selling a product it is necessary to know about the product type and its requirements, a seller could be one who needs to know about the input cost incurred on the product as well as the profit margin of selling the product. For that, a seller must be fully informed of the product quality. Moreover, the quantity available for the product is also an essential task for the seller as he might need to have full information on the inventory of the product. Gathering market information is an essential task in selling a product, a good seller always finds a way out in the market by observing the gap available in the market. When we talk about the market we casually see competition in the market. This competition could rule out many sellers who have less information about the market. So a good seller might need to look out for the market gap first and for that, he must have the exact market information. While having the full information on the market and the product, creating urgency to purchase is essential for a seller. In the market, he has to create the urgency for his prospective customers to purchase a product, the more he creates urgency, the more he might be able to close a sale. This is correlated to the term ‘creating the need for the product’. We casually face time constraints while pitching the product to the customer as the customer is always in a rush. Therefore, we need to create a unique and precise pitch that could be understood in a shorter period as well as can attract a customer. Financial constraints a consumer faces is a fabricated lie as if he comes to market he might as well choose to purchase, what is he looking for then? He must be maximizing his consumer surplus. What the best a seller could do is to convince a customer that the product he/she is purchasing is best for his/her consumer surplus. Last but not least is the trust issue - a consumer might face trust issues while purchasing a product. A seller needs to break his barrier by providing information on the product. Here the pitch could be helpful. If your pitch appeals to the consumer, all trust issues could be resolved. We now look for the use of these essential rules for selling the product in the available market, these rules could be applied to the digital store products selling as well. Digital stores require all these solutions. Therefore, these essential sales rules are important for those who are likely to opt for dropshipping as a career.
More detailsPublished - Sun, 20 Mar 2022
Created by - Ecommerce Pro
Trend Or Creativity. Which Goes Well for Dropshipping?
Go with the following or go against, which approach should we need to select for dropshipping? It is kind of a difficult decision. Dropshipping mostly depends on niche selection. Let’s first talk about what niche is - Niche is an area of expertise in one product for a small audience, considering the market. However, a dropshipper, if equipped with good market handling skills, still needs expertise in niche narrowing down. A good dropshipper needs to research the availability of the product and its market demand before choosing it. In the market, we face two kinds of competition: one is among the brands or giants and the other is the Ecommerce stores. New people in dropshipping business fail due to poor selection of products. They start in the competition, where big giants take over a large number of prospective customers and you can not compete with the amount of investment. Now let's talk about trends in selecting the product for dropshipping, trending products are good for the short term as there is the possibility of fashion, weather, and taste of the consumers. Once you select a product with the trend, you're not sure how long your product will remain in demand, or maybe the trend could possibly change within a few months or so due to a change in weather or taste. This will lead you to look again for a new product. However, this approach could help you to optimize your finances while using these products for secondary purposes. Yet again trending products may be giants and brands in the product market, hence being a small investor you might remain out of the competition in trending products but big investors can maximize their revenue by choosing the trending products. Similarly, using trending products could as secondary products also maximize the income opportunity for the small investors. In contrast, using creativity, while choosing products for dropshipping could help you in the long term. By creativity you might find the gap in the market, this will make you a significant shipper for the product. Relatively, you will have less competition in the market. Using different market covering strategies now you could expand your product shipment cycle. In dropshipping, creativity in the market could be fruitful for new dropshippers as they may get the maximum out of the gap in the market. It will increase the success ratio in dropshipping. We mostly get fuzzy about the product by considering its demand in the market, although the product may not produce long end benefit for the shipper, as well as the retailer. It is necessary to know about the product before opting for it. However, while selecting the product we might need to do research on trends in the market and the gaps in the market. We should go through a case study to know which approach is more beneficial for dropshipping. Let's talk about a cosmetic product that the shipper selects for his third-party shipment. Now, what does he have to look for? He needs to look for the target markets to sell. Let's say it is a dry skin moisturizer, he might need the market where there is cold weather. In the winter he might sell out maximum products but what about summer? He might face a bit low volume of sales in summer, only people with dry skin problems will purchase the dry skin moisturizer. Comparatively, a shipper selects a creative product, let's say “Porous minerals”. This type of product could create a huge market gap, now shippers could use this gap and sell the product for a good length. The problem of competition is still there as in trending product giant investors take more part than in creative and novel products. Therefore, conclusions can be drawn here as creative products are more beneficial than trending products with giant investors.Now let's talk about trends in selecting the product for dropshipping, tending products are good for the short term as there is the possibility of fashion, weather, and taste of the consumers. Once you select a product with the trend you're not sure how long your product will remain in demand or maybe it could be possible the trend would change within a few months or so due to a change in weather or taste. This will lead you to look again for a new product. However, this approach could help you to optimize your finances while using these products for secondary purposes. Yet again trending products maybe giants and brands in the product market, hence being a small investor you might remain out of the competition in trending products but big investors can maximize their revenue by choosing the trending products. Similarly, using trending products could as secondary products also maximize the income opportunity for the small investors.In contrast, using creativity, while choosing products for dropshipping could help you in the long term. By creativity you might find the gap in the market, this will make you a significant shipper for the product. Relatively, you will have less competition in the market. Using different market covering strategies now you could expand your product shipment cycle. In dropshipping creativity in the market could be fruitful for new dropshippers as they may get maximum out of the gap in the market. It will increase the success ratio in dropshipping. We mostly get fuzzy about the product by considering its demand in the market, although the product may not produce long end benefit for the shipper, as well as the retailer. It is necessary to know about the product before opting for it. However, while selecting the product we might need to do research on trends of market and gap of market. Let’s go through with a case study to know which approach is more beneficial for dropshipping. Let's talk about a cosmetic product that the shipper selects for his third party shipment. Now, what does he have to look for? He needs to look for the target markets to sell. Let's say it is a dry skin moisturizer, he might need the market where there is cold weather. In the winter he might sell out maximum products but what about summer? He might face a bit low volume of sales in summer, only people with dry skin problems will purchase the dry skin moisturizer. Comparatively, a shipper selects a creative product, let's say “Porous minerals”. This type of product could create a huge market gap, now shippers could use this gap and sell the product for a good length. The problem of competition is still there as in trending product giant investors take more part than in creative and novel products. Therefore, conclusions can be drawn here as creative products are more beneficial than trending products with giant investors.
More detailsPublished - Sun, 20 Mar 2022
Created by - Ecommerce Pro
Ecommerce: an Earning-Heaven for Women!
According to the World Bank’s population indicators, there are around 7.762 billion people living around the globe. However, around 49.58 % of the total population is female. It indicates that we are approximately in gender balance. Therefore, talking about women's participation in economic activities is a hot debate among the stakeholders. It is estimated that if around 45% of the total population of women participate in economic activity, it will bring about a 28% increase in global GDP. Now let’s first discuss how it will happen? If it is that easy then why are we still lagging behind? The answer is the constraint in developing economies regarding women's participation. It may be due to labor laws, cultural and custom disparities, security issues, or differences in social structure. Now, what can we do in such a situation? Do we have to wait for developing countries to change their geo-political situations? No, there is no need for it yet as we have an easy and rapid solution to this problem, “Ecommerce”. Although it is not gender-based still it has opened up a path for women to contribute equally to business activities. Is Ecommerce earning heaven for women? Yes! Ecommerce is revolutionizing the global economy swiftly as it is cutting down the hurdles and constraints faced by the developing countries. The Ecommerce business model, with its widespread earning opportunities, is all set to provide equal earning opportunities for all. Now we do not need a physical store, a large building, and huge equity for taking up a new earning path. Similarly, you do not have to go out in the market physically, all you need to do is to use digital sources to market your product. It is now easy for women in developing countries to work without any constraints they face in traditional business conduct. Firstly, they need to determine what kind of Ecommerce platform they want to join. It depends on their skill sets whether they chose Business-to-Business or Business-to-customer services, or similarly, they chose customer-to-business or customer-to-customer. Moreover, they could start their career in dropshipping or virtual assistance. All these models of earning do not require huge equity or physical movements. All they need is a device with an internet connection. This is how we could overcome the hurdle and let the women of developing economies in the production cycle of the global economy. It is estimated that if women participate in Ecommerce they would inject around 300 billion dollars into the global economy by 2025. It indicates the potential of women in the Ecommerce industry. Let's zoom in a bit more into this phenomenon with a practical implication. Assume that if we work on already working women on different handicrafts, and food-related products locally, they could increase their circle of supply globally by just listing their products online. More importantly, this would encourage women's entrepreneurship as well as the Ecommerce industry. However, it is necessary to talk about the way forward for the betterment of women's participation in the Ecommerce ecosystem. We need to arrange proper training on soft skills and digital management for the women in developing countries. Moreover, it is needed to provide facilities and ease to women entrepreneurs to enter the Ecommerce ecosystem. Lastly and more imperative is to promote digital literacy in the developing economies, so they could add value to the digital economy.
More detailsPublished - Tue, 22 Mar 2022
Created by - Ecommerce Pro
Resilient youth development of harsh terrain with professional E-commerce learning: outlook from Hazard prone Gilgit Baltistan region.
Grappling with the financial constraints of untapped communities remains a bottleneck for the betterment of society as a whole. A nation cannot reach its development trajectories unless all communities participate in Economic activities.Many regions around the globe suffer a backlash of opportunities due to inadequate infrastructure, a lack of modern resources, geographical isolation, and harsh terrain. These regions are prone to natural disasters and insufficient connections with developed areas. While talking about untapped areas, Gilgit-Baltistan, the northern region on the Karakoram Highway of Pakistan, is one of the abundant resource regions that have inadequate availability of modern facilities with high potential social capital.The optimistic youth of GB, with immense potential to eradicate their marginalized Finacial constraints, is still looking for sustainable opportunities. Higher education and a rich literacy rate make youth a potential human resource. However, they look for oppurtunities in developed parts of the country, especially in the nearby developed areas such as Peshwar and Islamabad. This could help them to earn a living but not as efficiently as it could be if they get the opportunity in their native areas. The other aspect also indicates the less use of the potential of abundant resources such as jewelry stones, fruits, nuts crops, cultural outfits, and highly demanded livestock commodities.It indicates that if these abundant resources would give a better marketplace, this could bring millions of dollars in earning oppurtunities. But the question here is how to make such marketplaces in these untapped areas. The answer could be found in digital markets (the E-commerce industry) that can provide solutions to these problems. Firstly, the local products could be offered for sale in the international market without any large investment and international tariffs. Secondly, the Local community can earn sustained earning opportunities. Now the problem here is how these emerging skills can be provided to the people of Gilgit-Baltistan on a large scale. For this, E-commerce Pro (Leading E-learning Platform, Offering Professional E-commerce Skills) with the collaboration of Volunteer Force Pakistan (Largest Network of Volunteers in Pakistan) would launch the skill development program for the people of Gilgit Baltistan in their ongoing series of conferences (GBYLC- Gilgit-Baltistan Youth Leaders Conference- held on 4 and 5 of September 2022). This endeavor would bring economic prosperity through the provisions of E-commerce learning opportunities. The skill development program would attribute to the rhetoric development of resilient youth by professional Ecommece skills. This program would provide an opportunity for 2000 people in GB to learn professional E-commerce skills. Free signups for the courses (created by international Ecommece industry experts) will be provided to potential candidates. This project would cost $100,000 (Approximately PKR21,500,000). Furthermore, A large-scale monitoring mechanism would also be adopted to invigilate the process of learning E-commerce for professional conduct in the Internation E-commerce market. The monitoring committee would be constituted of E-commerce industry experts and human resource management (HRM) experts. It is estimated that these 2000 candidates would potentially transform the economy of GB into a digital economy. It is also forecasted with help of a pilot survey and Intra-Organization analysis, both by E-commerce Pro and VFP that approximately 30 million annually would be added to the economy of GB with a growth ratio of 25% annually if only 30% of the candidates professionally start their E-commerce career after this program. It is also analyzed that with the same ratio, approximately 65 start-ups would be projected that will give employment opportunities to around 1.600 people annually. While remaining on the same ratio for the next 5 years, 481250 million rupees would be added to GB’s economy, 8000 employment opportunities, and 300+ startups would also be projected. It is concluded that if such initiatives would be taken on a larger scale with the collaboration of the government of Pakistan (GoP) local government of GB (GoGB) and Civil society organizations (CSOs). There would be likely chances of a resilient development of Gilgit-Baltistan. It also concluded that Such programs are needed in other untapped regions around the globe, hence this could increase the possibility of community uplift and financial freedom in remote areas.
More detailsPublished - Sat, 03 Sep 2022
Created by - Ecommerce Pro
Basics of Ecommerce for Beginners
By Muhammad Zeshan Jolaha Surely all of you have heard the word "e-commerce" or e-commerce store at least once and you have bought from the online store at least once. e-ecommerce industry has emerged as the biggest industry after Covid-19. However, there are still many users who are not familiar with the nature of "e-commerce" and have very little information about e-commerce (electronic-commerce).Most businesses these days use online platforms to sell their products to make it easier to manage their customers. However, a brief introduction to e-commerce, for the people who have inadequate information about e-ecommerce, would increase their adaptability to digital sources. So, they could sell their products and earn exponential profit that they could not earn using the traditional ways. Let's go through the basic definition of e-commerce Various definitions have been presented from the past until now, but in the simplest language possible, it can be defined as the science of electronic commerce deals with commercial exchanges through communication networks.e-commerce is based on information processing and electronic data transmission. Electronic commerce or e-commerce is a variety of activities such as electronic exchange of goods and services, instant delivery of digital demands, electronic funds transfer, electronic exchange of shares, electronic software, business models, joint design and engineering, sourcing, government procurement, and direct marketing. It also includes after-sales services as well as general commercial activities such as advertising, negotiations, resolutions, and settlement of accounts. The importance of e-commerceWhile talking about the importance of designing an e-commerce store, we considered the obtained benefits of the owners of the e-commerce store. The following would count as benefits associated with e-commerce stores. e-commerce makes goods transaction easy and time-saving, it also reduces traffic on the streetsReduces pollution such as noise, and biological pollution and prevents diseases and poisoningsPayment of money to e-commerce stores is safer You can sell your product without regional boundaries You can increase your product sales exponentially There is no need for large capital investment in huge physical infrastructureYou can reach your target customers without doing a lot of effortYour sale is less vulnerable to geo-political disasters The above-cited benefits could be fruitful for anyone, one has to go through a learning process and start an e-ecommerce store with low investment.
More detailsPublished - Wed, 28 Sep 2022
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Basics of Ecommerce for Beginners
Wed, 28 Sep 2022
Resilient youth development of harsh terrain with professional E-commerce learning: outlook from Hazard prone Gilgit Baltistan region.
Sat, 03 Sep 2022
Ecommerce: an Earning-Heaven for Women!
Tue, 22 Mar 2022
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