5 important things to know about O2O
Knowledge Base | By: Ruchi Shah
This is the final installment in the series where Jewelxy explains the popular terms used to describe businesses online. Earlier, we came to know what B2B, B2C and their unusual counter-part B2M mean.
In this write-up we take a look at what O2O means:
1. What is O2O?
O2O stands for online to offline commerce. It is a type of ecommerce. It began with the digital revolution, better internet connectivity and the rise of startups. China is a thriving example of how businesses grow on the O2O model.
2. O2O utilizes technology effectively
In the online-to-offline sector, businesses use technology such as apps, email, social media or other digital tools to get users to buy from real shops in their location.
3. O2O is essentially a bridge
O2O acts as the bridge between discovering all that you want online and going to the nearest relevant source offline to fulfill the requirement.
4.O2O is a flexible model
Some O2O platforms prefer that consumers pay online first and then go to the real world location to get the service. However, many platforms like Jewelxy prefer that the consumer discovers the product or service online, is satisfied by it and then makes the payment directly to the product seller or service provider offline.
5.O2O works great for shop owners
Small, medium and large scale businesses with shops benefit greatly from the model O2O since it encourages the customer to actually visit the store. This gets more footfalls, increasing the chances of conversion in addition to building customer loyalty.