Guest post by Alin Rizea who recently joined Sugartrends through the Erasmus for Young Entrepreneurs programme.
“In today’s business world, the increased use of the Internet and Internet based-technology has enabled online retailing to become a popular trend, having a significant impact on consumer behavior and the way stores operate. In simple words, e-commerce allows small and medium sized businesses to reach their target market a lot easier and at lower costs; moreover it has allowed small stores to penetrate markets that would have seemed impossible to reach without the Internet.
E-commerce plays an important role for the traditional format stores and will continue to be a huge differentiator for businesses within the online environment. Unlike traditional commerce, where you have to visit the place in order to purchase a product, e-commerce is available everywhere, at any time. From a customer point of view, it is more convenient in terms of costs, time and cognitive energy.
The marketplace becomes marketspace. Nowadays, customers can shop at home, at work, or even when they travel by simply using their desktop/laptop, smartphone or tablet. In terms of reach, traditional commerce is local or regional whereas e-commerce technology allows businesses to trade on a global level far more conveniently, at lower costs. As regards the technical standards for businesses when trading online, there are universal standards, which means lower market entry costs, reduced search costs, simpler price discovery and access to one global marketspace.
Additionally, because of its richness, the Internet can offer more information about products and services than traditional media and offer interactivity on a global scale. In today’s business world, customers expect personalized treatment, so it is fair to say that e-commerce enabled modern businesses to identify market segments and engage with their customers.
Sugartrends is a good example of how e-commerce can help local stores and boutiques connect with customers around the world, by offering them an online marketplace. Basically, customers can now do their shopping in Paris, Amsterdam, Barcelona or even Sydney with just a few clicks without having to travel. By doing so, Sugartrends is not just helping the local stores and boutiques but it is also creating a unique shopping experience for the customer.
You might probably wonder why focusing on local stores rather than national chains, but the truth is shopping locally really matters. And this is not just because it helps small businesses grow or encourages new entrepreneurs to open their own business, it is also because it helps create new job opportunities and hire local talent.
Emerging research shows that when buying from a local store, it is more likely that your money stays in the local community, as the local shops would then use local ads, banks or other services.
Moreover, where there are lots of different small stores and boutiques you can always expect innovative products, better-tailored services and lower prices or better offers over the long term. Each local store selects products and provides services based on the local needs assuring a wider diversity of products.
This is also the main reason I chose to join Sugartrends, because I believe in a better shopping experience, better products, better local economy, better community….a better future.”
– Alin Rizea, Business Development and Marketing Manager at Sugartrends
