Beginner’s Guide: Ecommerce Terms and Definitions You Need to Know
Are you new to the world of ecommerce? Then you’re in the right place. As a beginner, it’s really important to get acquainted with the basic terms and definitions that govern ecommerce operations.
In this article, we’ll cover some key ecommerce terms and definitions that you need to know.
Ecommerce
Let’s start with the fundamental concept – ecommerce. Ecommerce is the buying and selling of goods and services online. This includes online shopping, online banking, payment gateways and other digital transactions.
Product Listings
Product listings are the digital representation of the products that are being sold online. These listings contain the product name, description, price, and other information about the product like images, size, color, etc. Accurate and detailed product listings are key to getting your ecommerce store off the ground.
Shopping Cart
The shopping cart is where customers store the items they want to purchase while they continue to browse your online store. This is a common feature on all ecommerce websites.
Payment Gateway
A payment gateway is a service that processes online payments, including credit card payments and online bank transfers. Payment gateways ensure that transactions are secure and that sensitive data is protected.
SSL Certificates
SSL (Secure Sockets Layer) is the protocol that encrypts the data exchanged between a user’s device and the ecommerce website. This ensures that sensitive information is protected and can’t be intercepted by hackers.
Shipping
Shipping is the process of delivering a product from the seller to the buyer. This includes logistics, carriers and payment processing for shipping orders.
Return Policy
A return policy outlines what customers can do in case they want to return a product. As there are many reasons why customers may want to return a product, it’s important to have a clear and concise return policy.
Customer Relationship Management (CRM)
Customer Relationship Management (CRM) is a tool that businesses use to manage customer interactions and build long-lasting relationships with customers. This is especially important in ecommerce as you want to keep customers coming back for more.
Conclusion
There’s a lot to understand when starting in ecommerce and we’ve only covered the basics. However, understanding these ecommerce terms and definitions can make a world of difference when it comes to setting up and running your ecommerce business. Now that you’ve learned some of the basic terms and definitions, you can take the next step in your ecommerce journey!
