Unit 1 and Unit 2 Flashcards
Explore new terms
Define the term digital storefront
A digital storefront refers to an online platform or website where businesses display and sell their products or services to customers. It serves as a virtual equivalent of a physical store, allowing customers to browse, select, and purchase items from anywhere using an internet connection
Key features of a digital storefront
1) Product Listings: Items are categorized and showcased with descriptions, images, prices, and availability details.
2) Shopping Cart: Users can add products to a cart, allowing them to continue shopping before finalizing a purchase.
3) Checkout System: A secure system that enables customers to enter payment and shipping details and complete their transactions.
4) User Accounts: Customers can create accounts to track orders, save preferences, and manage future purchases.
5) Payment Gateways: Integration with payment methods (credit cards, PayPal, etc.) for secure transactions.
6) Mobile and Web Accessibility: Designed for smooth experiences across devices, including desktops, smartphones, and tablets.
Popular platforms which offers Storefront solutions are
Shopify, WooCommerce, and Magento etc.
A Product Information Manager (PIM)
It is responsible for managing product information in a centralized location, and ensuring that this information is consistent and localized across all channels
Why Do one needs Product Information Management (PIM)?
As organization if you are selling B2B or B2C, delivering engaging product experiences is a key success factor for your business. Your customers expect to have rich, relevant, and trusted product information across channels and digital touchpoints so they can make an informed purchase decision.
Order management
Order management is the tracking of orders from inception to fulfillment, and the management of the people, processes, and data connected to the order.
An order management system (OMS)
It is a digital way to manage the lifecycle of an order.¹ It tracks all the information and processes, including order entry, inventory management, fulfillment, and after-sales service.
An online shopping cart is software
It allows users to select and purchase goods or services from an online store, offering customers a convenient way to collect and organize products they’re interested in purchasing.
SaaS means?
“Software As A Service”
SaaS utility?
Instead of purchasing the product outright, consumers subscribe to it, which the vendor continues to host, update, and improve.
Open Source eCommerce Framework
Users of open source software can access and alter the source code on their own programme. It’s usually written in PHP, a popular general-purpose programming language, but not always. Open source e-commerce platforms provide for extensive customization, albeit at a cost.
Framework for Headless eCommerce
the separation of an e-commerce application’s front end (your storefront and user experience) from the back end (your data and business logic). When a platform’s front and back end operate independently, changes on one end do not affect the other.
What are the three stages in the evolution of e-commerce?
Stage 1 – Start-up & fast growth. Stage 2 – Plateauing growth or consolidation.
Stage 3 – Renewed growth by implementing change (new platforms, features, resources/people or strategies)
What is the next evolution of e-commerce?
The rise of 5G will enhance digital experiences and mobile commerce,
Enabling ecommerce platforms to deliver more engaging content.
M-commerce is quickly becoming the main focus for both online and physical stores
Best E-Commerce Platforms
-Squarespace: Best Overall E-Commerce Platform
-Square Online: Best for Omnichannel Selling
-Ecwid: Best for Existing Sites
-Shopify: Best for Drop shipping
-Wix: Best Drag-and-Drop Editor
-Weebly: Best Value
-BigCommerce: Best for Boosting Sales
-WooCommerce: Best for Versatility
-Big Cartel: Best for Creatives
E-business or electronic business?
It refers to using digital technologies to conduct business processes online. E-business encompasses a wide range of customer, internal, and management-focused processes. These processes include buying and selling goods and services, managing supply chains, processing payments, and collaborating with business partners.
e-business encompasses a range of electronic tools and technologies
e-commerce platforms, electronic data interchange (EDI) systems, online payment systems, and customer relationship management (CRM) software
The brick-and-click model
Also known as the click-and-mortar or omnichannel model, is a business model that combines a physical store with an online store.
OpenCart
An open-source platform that offers a variety of themes and extensions, and powerful store management capabilities
Shopify
A popular platform that lets brands separate front-end and back-end design to create a better buying experience for customers
Storefront Model is
A basic form of e-commerce in which the buyer and the seller interact directly. *
It combines transaction processing, security, online payment and information storage to enable merchants to sell their products online.
Leading storefront model companies are B2C (Business to consumer)
moviefone.com
What is web application development?
Web application development is the creation of application programs that reside on remote servers and are delivered to the user’s device over the internet. Web apps don’t need to be downloaded and instead are accessed through a network
e commerce vs e business
E-commerce is a part of e-business, which is a broader term that encompasses a company’s entire online activity
Supply chain management, customer relationship management, and electronic order processing
Is nothing but E- Business
Mobile commerce (m-commerce)
It is the use of wireless networks and mobile devices to conduct commercial transactions over the web.
