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Described E-commerce benefits and what limitations are in E-commerce types business.

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  1. 1. reviews | E- Commerce Business Profit & Boundaries E-Commerce buying and selling of goods and services have been prevalent for centuries. No one can be self-sufficient. And this brings out the need for demand and supply of goods and services. Transactions have been running on all over the world for centuries, locally, and across locating. Keeping the same thought in mind, now think electronic. For example reviews is organization for selling and trading memorabilia products. e-Commerce, also known as e-Business, or electronic business, is simply the marketing of services and goods over an electronic medium, like the Internet. It also involves electronically transporting data and funds between two or more parties. Simply put, it is online matching as we commonly know it. e-Commerce made way back in the 1960s when organizations began to use Electronic Data Interchange (EDI) to transfer records of their business back and
  2. 2. forth. The 1990s saw the development of online shopping businesses, which is quite a phenomenon today. It has become so comfortable and easy, that anyone can shop for anything right from a living room, with just a few clicks. This has developed more with the emergence of smartphones, where now, you can shop everywhere and anytime, with a wireless device connected to the Internet. Now you can search for about any product or service online, externally having to go anywhere bodily. 1. E-Commerce can be defined as the trading of goods, services, information or anything else of value between two entities over the internet. It is the ability to conduct business electronically over the internet. It means running businesses using networking and electronic means. It is a platform for selling products & services via the internet. It is used for Electronic payment, e-distribution of products & services, Exchange of information, Pre and post-sales support, Customer relationship management.
  3. 3. There are some limitations of e-commerce. That are:- 1. Security:- the protection risk in e-commerce can be- • client/server risk • data transfer and transaction risk • virus risk 2. High start-up cost:-The various components of the cost involved with e- commerce are:- • Connection:- connection cost to the internet. • Hardware/software:- this includes the cost of sophisticated computers, modem, routers, etc. Maintenance: – this includes cost involve in the training of employees and maintenance of web-pages. 3. Legal issues: – These issues arise when the customer data fall in the hands of strangers. 4. Lack of skilled personnel:- there is difficulty in finding skilled www developers and knowledgeable professionals to manage and maintain customer on line. 5. Loss of contact with customers:-Sometimes customers feel that they do not have received sufficient individual attention.
  4. 4. 6. Uncertainty andlack of information: – most of the companies have never used any electronic means of communication with its customers as the internet is an unknown mode for them. 7. Some business process may never be possible to e-commerce:- Some items such as foods, special-cost items such as jewelry may be impossible to be available on the internet. Advantages:- 1. Speed up the marketing process and save time for customers It completely speeds up the buying method because when someone thinks of buying one specific goods from the physical storehouse which is very far and not easily available. Here how the eCommerce helps the customer to avail of the specific commodity easily and speedily.
  5. 5. 2. Personalize the store as per the customer expectation. One of the online business interest which will enhance your online shopping experience. It is because every purchase which is made online will be referred as per location and recommended as per customers' superior searches. 3. Reduce recurring costs while hiring virtual support resources. One of the factors which can profit from eCommerce is that hiring agents is affordable. It is like you can choose to outsource your responsibility and work to your virtual assistants in different countries. 4. Easily retarget your customers. There are many ways to retarget the customer and sell the product nicely. Below are some of the techniques which you can use to retarget customers:- Easily Target Share a coupon when clients leave the checkout sides. Even by sending emails that are pitching upsell and cross-sell. It can be done through Google paid and organic search results. It can be done through the customer’s number of visits to a specific page with a certain period of time. 5. Easier to encourage an impulse buy Impulse buying is one of the methods where it works as a common behavior of customer’s perception towards a particular product. It is related to the control of human psychologicalbehavior which is like some people possess personality traits that can be said as impulse buying tendencies.
  6. 6. Impulse buying This is what can be used on an eCommerce platform too by making the product more attractive with images, other color options and even by showing a video of the product. So the consumer can get the same aura of getting the product from the commodity.