E-commerce is an integral part of the internet right this moment and has created an entirely new approach of buying and selling. The term E-Commerce, is an acronym referring to “Electronic ‘Commerce” and it’s the process of selling and shopping for of products via an online store. Unlike a “brick and mortar” store, there isn’t any face to face interfacing between the seller and the buyer in order for the transaction to take place.
I’ve talked about the power to serve the world with a e-commerce solution. How about one’s neighborhood? If one is located in San Francisco Bay Area, the Raleigh NC area, Boston or New York, there might be enough local customers with Internet access to make it value one’s while to consider Web marketing. A local Palo Alto, CA restaurant even takes lunch orders by means of the Internet! But no matter where one is, if the huge client has Internet access, one should be there too.
1) Products can be of inferior quality or not the same as was advertised or promoted on the seller’s web site. If the high quality is sub-commonplace, the transaction could be considered a “bait and swap” which means that what was offered is different from what the customer receives.
On technical grounds, we can consider M-commerce as a part of E-commerce marketplace as it gives authority to the user to do transactions utilizing his mobile phone. The best example is companies involved in outsourcing businesses make use of customized software development and call the client via B2B E-commerce. The more widespread B2B examples and best practice models are IBM, Hewlett Packard (HP), Cisco and Dell. Cisco, for instance, receives over ninety% of its product orders over the Internet.
There are many different types of E-Commerce businesses out there on the large WWW, some are successful, however many are not. E-brokers are an integral part of the monetary market. They provide their services through the Internet. The advantages of E-commerce definitely rise above the disadvantages as you’ll have a huge audience to market towards, the aid of search engines, the help of tons of people, tools to make transactions, and even the lack of inventory at times.
Quick processing- Blockchain technology for e-commerce is removing the dependency of middleman, manpower and third occasion organizations from the e-commerce model. It saves a whole lot of time consumed in the overall process ranging from inventory managing, to order placing to delivering at users door step.
It’s quite true that the market has not been reached by the native players. In truth not even five percent of the market has been reached by all local players combined. Inside the reached market, round ten percent is covered by the international players. What this means is that though the international companies are not giving considerable effort to keep targeting the Sri Lankan market, they still have an impression on it. One reason for this trend may be the spreading of Sri Lankans who live all around the world. These people have a worldwide presence so that makes them to order products via internationally identified eCommerce businesses to be sent to their friends and household again in Sri Lanka. This in turn gives exposure to the regionally residing people who then begin continuing.