Module Two

If you had told someone 30 years ago that there would come a time when ordering your favorite food or product or even groceries using a mobile phone or a computer, people would have thought it’s impossible. But see how things have evolved today with an online store.

 

Isn’t it? Today, it does not matter where we are or whatever time it is, shopping is possible. Thanks to the growth of e-commerce and the development of online stores. 

But what are online stores? What are some of the popular examples of online stores? In this introductory chapter of our module 2, we will learn about it. By the end of this chapter, you will get an understanding of:

 

• What are online stores?
• What are the components of an online store?
• Some popular examples of online stores.

 

Let’s start with our discussion and develop a basic understanding of an online store.

 

Online Stores – Portals to Shop Online

 

We are going to understand this from a basic example. Suppose you want to buy a shirt for your upcoming interview. After some thought, you decided that you are going to shop online. You opened your laptop and started searching. 

 

Myntra, Amazon, Snitch, Ajio, Flipkart, and many others. You researched several platforms where amazing and top-quality products were available. Using virtual trial methods, you also tried different products. Finally, you found the perfect option for you and you ordered it. 

 

In all this process, did you ever think about how this all became possible? What was it that facilitated your shopping process? These were online stores. Myntra, Amazon, Snitch, Ajio, and Flipkart. The brands that we discussed above, all have their online shopping stores or e-commerce stores where shopping is possible. 

 

Online stores are also known as e-commerce stores. An online store is a website or an application through which businesses can sell their products and services through the Internet. A user can visit an eCommerce store, search for products available in the catalog, view descriptions of any product, and make a purchase. The item would later be delivered at the desired location or can be collected even at the store, depending on the options available. 

 

eCommerce stores can be of different types. The following is the list of different e-commerce store types and some of their popular examples: 

 

• Niche market: Chumbak, Zivame, Heads Up For Tails
• General Merchandise: Flipkart, Amazon India, Walmart
• Digital Products: Udemy, Byju’s Unacademy
• Subscription: Netflix, Dollar Shave Club, Zomato
• Services: UrbanCompany, Fiverr, Upwork
• B2B: Alibaba, Shopify Plus, IndiaMART
• Marketplaces: Amazon, Flipkart, Myntra
• Local: Dunzo, Swiggy, BigBasket 

 

Therefore, all these refer to online stores as they provide goods or services to the customer via the Internet. 

 

Understanding the Components of an Online Store

 

Imagine you are building a physical retail store to start a business and provide goods and services to consumers. When you are looking forward to opening a retail store, there are different components such as a space to build your store or a pre-build store, storefront, lighting, and much more. 

 

Similarly, when you are starting a business through an online store, there are different components that you would need to have. What are these components? As someone who is looking forward to building their e-commerce store ahead, you have to consider these components. 

 

Imagine yourself as a customer who is visiting a platform. So, we are going to discuss these aspects accordingly for a better understanding. So, these components are:

 

• Product Listings – You as a customer visit an online store. What will be the most important thing for you on the whole website? Correct! Product listings. An eCommerce store should always provide detailed information about the products and services. The details must have images, descriptions of the products, prices of each product, and other technical details if any. 

 

• Shopping Cart – Now, while you are looking for different products, you find more than one product to be useful. What should be there so that you can add different products? Well, another important component of an eCommerce store is the shopping cart. While you are browsing different products, it should be easy for you to shortlist the best ones and keep them with you for the final checkout. 

 

• Checkout Process – The next step in your shopping process will be checkout. With this component in an online store, it becomes possible to complete the purchasing process.

 

• Different Payment Options – Now, most stores overlook this aspect. However, it plays one of the most important roles in the whole process. As a customer, if you have only a single payment method with you the same is not available at the online store. Will it be helpful for you? Hence, is it essential for an eCommerce store to have multiple payment options. 

 

• Robust and Secure Infrastructure – Now, as a customer, if you do not find the online store to be safe and secure, will you ever shop there? No, right? So, another important component that an online store cannot miss is secure socket layer (SSL) encryption for safeguarding the information of the individual and providing a safe shopping experience. 

 

• Order Management – In an online store, order management plays a critical role in streamlining operations and ensuring final successful delivery to the customer. From managing inventory to processing orders, and then finally handling the shipping process, things should be smooth and effective. 

 

• Customer Personalization – Today, with the advent of technology like AI and machine learning, personalization has become a prominent part of an online store. An individual should be able to create his account, search for products as per his choice, and ultimately be suggested similar products to get a smooth experience. 

 

Therefore, to ensure maximum customer satisfaction and retention, you need to consider these aspects while building your online store. 

 

So, now you must have a clear understanding of what an eCommerce store is and what components it should have. Right? It begins a new learning phase in your e-commerce journey with Vantage by Zopoxo. Be ready for the detailed learning ahead in the upcoming chapters. 

Crucial Takeaways from this Chapter

• An online store is a website or app where businesses sell products or services over the Internet.
• Popular examples of online stores include Amazon, Flipkart, and Netflix.
• Key components of an online store include product listings, a shopping cart, a checkout process, and multiple payment options.
• Secure infrastructure and order management are essential for smooth and safe operations.
• Customer personalization through AI and machine learning enhances the shopping experience.