ECommerce will not be new to the world however it is relatively new to Sri Lanka. Global Reach – E-commerce technology permits commercial transactions to cross cultural and national boundaries far more conveniently and effectively as compared to conventional commerce. As a result, the potential market size for e-commerce merchants is roughly equal to the size of world’s online inhabitants.
When you search the Internet, you’ll have come across many e-commerce websites selling a variety of products. However, there are additionally many comparable websites specializing in selling a specific line of merchandise or services akin to apparel, pet accessories, vogue wears, shoes or travel packages. Besides, there are some other e-commerce websites that sell many different merchandise reminiscent of smartphones, cameras, home appliances, household items, sports and health items, lamps, laptops, books, and so forth. The latter is something much like a hypermarket where you’ll find almost any stuff – you name it, they have it.
So, for example, say have get the idea for creating a eCommerce site that imitates a more famous eCommerce website similar to (not stealing the site’s structure or format naturally!). In this case, you may locate a turnkey eCommerce company, tell them as to what your needs are (with some helpful examples), have them set up the site to your specifications, pay them, and receive the proverbial keys in your set up eCommerce site that may sell your individual niche merchandise. You can even have them help you to set up a url and a domain hosting service for a small fee (when it is not included) in the event you need it.
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.
Money being allocated for the development of internet security systems is to facilitate the rising volume of online transactions and to counteract fraud. As more organizations shift to doing business online, this trend in e-commerce will continue. Banking systems, government transactions and retail storefronts get constant attention from hackers with malicious intent. The security initiatives are a pure response to counteract this and to increase consumer confidence in online banking and credit card processing systems.
three. Consumer to Consumer (C2C) – It facilitates the online transaction of goods or services between two people. Although there is not any visible intermediary involved but the parties can not perform the transactions without the platform which is provided by the online market maker equivalent to eBay.
Fast processing- Blockchain technology for e-commerce is removing the dependency of middleman, manpower and third celebration organizations from the e-commerce model. It saves loads of time consumed in the overall process ranging from inventory managing, to order placing to delivering at users door step.