Mainly, e commerce can be defined as the buying and selling of products or services online. Third, each site must establish some approach for customers to make payments for the things they purchase. For consumers, this usually is a credit card system. For business to business operations, payments are usually made by way of a voucher system. In other conditions, a bill is generated or a computerized billing system is used in order that the invoice goes directly to the buyer. In more trusting relationships, the invoice is added to the customer’s records with out a physical bill ever being mailed.
To generate an E-Commerce website requires very little capital investment compared to buying business premises. The issue with ‘bodily’ business premises is that there is a need for top visibility and the location will at all times be a key issue. The design and development of an E-Commerce website can be a comparatively moderate investment relative to a business’s turnover. The potential to save money on personnel as checkout, payments, delivery and all over operational processes can be totally automated in the E-Commerce website.
One won’t get Newsweek magazine to write up about one’s native store opening, but one may get them to write up one’s Web Page address if it is something new and interesting. Even if Newsweek would write about one’s native store opening, one would not benefit from someone in a distant city reading about it, unless of course, they were coming to one’s city sometime soon. With Web page information, anybody anywhere who can access the internet and hears about one’s site is a potential customer to one’s Web site and a potential customer for one’s information there.
Sri Lanka does not have a greying inhabitants unlike most developed countries. That is another alternative for the nation to adapt to new trends. It’s relatively hard for elderly people to adapt to new trends. Youngsters are instinctively inclined in direction of adapting to new trends. Since the Sri Lankan population consists a larger proportion of youngsters, it is clearly visible that their trend would change in direction of an eCommerce market than a traditional shopping place. This is already happening in the country, however not the eCommerce shouldn’t be perfect yet.
New technology additionally contributes to e-commerce web trends by reshaping the business landscape. This applies to industries where disruptive technology provides efficiency and value financial savings. Globalization can be a natural consequence of eliminating the tyranny of distance. This particularly so in monetary markets were online trading systems are replacing open outcry and trading pits. As more brokers offer access to worldwide markets, internet usage trends for online stock transactions are set to continue.
As a prospective e-commerce business entrepreneur, it’s best to first decide on your business model that best fits your need and budget. You can either sell your products solely on your online store, or you can sell your products on marketplaces like Amazon, eBay, Etsy, etc. For those who decide on the latter, there isn’t any need for you to build your own website. All you need to do is to sign-up for an account and listing your merchandise at its marketplace and start selling. You can also choose to sell your merchandise on each the platforms in parallel.
Ultimately, the affect of e-commerce will be to level the taking part in field among economically disadvantaged countries. As the infrastructure required fore-commerce to be possible reaches even the smallest communities, borders and political power will be less influential in terms of success than a company’s means to effectively market online, construct a neighborhood of followers, and create lasting relationships with their target market.