Some field experts would consider all business deals and activities that are being conducted utilizing modern Telecommunication and Information Technology methods as E-commerce. 2) Items bought on the internet may require an electronic transaction to complete the purchase. When the seller receives the buyer’s credit card info, they can then use that to their advantage. If they have intentions of committing a legal act, they can use the card information to make other purchases for themselves.
Cyber Threats- Despite of using a secure transaction network, the e-commerce industry is always at a risk of losing their customers data and money due to unwanted cyber attacks. Blockchain technology is a perfect answer for resolving these challenges. It provides highest level of security by utilizing distributed ledgers for managing the e-commerce database management systems.
In conducting my study, I have researched extensively on the Internet for resources. I chose the Internet as my main research medium because e-commerce remains to be a fairly new technology. Since it is technology related, the Internet will provide the most recent knowledge available. Printed publications won’t be able to adapt to changes as fast and efficient as electronic publications. I researched many e-commerce related web sites together with some companies that conduct statistical studies. Some of the e-commerce web sites that I looked into are E-Commerce Times, eRetail, and eMarketer. The statistical research corporations that I researched are Forrester Research and Jupiter Communication. Both corporations provided valuable statistical knowledge that reveals the rise of consumers shopping on-line and the predicted dollar quantity that may be spent in the coming years.
The problem with eCommerce is, though in final five years many changes, some are drastic, have taken place in philosophy, ideology and technology related to the Web, very few issues have changed in eCommerce sites. Now, it all started to change! Even successful eCommerce sites are experimenting with new ideas born from Web 2.zero concept. The result is visible! A recent survey reveals adoption of new interactive functionalities, innovative product catalog and better communication with users have increased online sales for 83 percent of respondents.
B2B definitely deals with companies who are doing business with each other. An example of that is manufacturers who are selling their product to distributors, and the wholesalers are selling it to retailers. Thus, the pricing can be based on the number of orders and is frequently up for grabs.
To resolve these problems, a review of the previous could be helpful. When telephone orders were first encouraged by email order firms, people were hesitant because of fears about giving out a phone or credit card number to a stranger they couldn’t see. Now, nearly everyone is keen to provide the information while inserting orders on the phone. Also, it wasn’t that many years ago that credit card holders expressed anxiety about numerous store employees stealing those numbers. Initially, customers were instructed to – – take the carbon – – from a credit card purchase to make sure it was torn into shreds in order to prevent an employee from utilizing the credit card number later.
When you start selling merchandise in your e-commerce website, you need to ship the merchandise to your customers utilizing delivery companies. You will need to choose those reliable ones that have good observe records in fulfilling shipments within agreed durations and at the lowest available shipping price, as a way to give your customers the best deal as well as maximize your revenue.