When it comes to down to the financial aspects of this industry you can see that it is very similar to the other monetary aspects of most industries. To generate an E-Commerce website requires very little capital investment compared to purchasing business premises. The difficulty with ‘bodily’ business premises is that there is a need for high visibility and the location will all the time 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.
Using M-commerce, users can guide movie tickets on their phones by accessing the Internet on their phones and in addition can receive tickets send by the cinema people utilizing different e-commerce technologies to their phones. This helps the users to escape from the rush at the movie ticket window and can show these tickets at the entrance of cinema. In the same manner, people can receive coupons, low cost offers, and loyalty cards on their mobile phones and can get these offers at retail outlets by displaying their phones. A very good example of M-commerce is mobile banking and shopping online where a client can access his account through mobile phone and can conduct the shopping transactions.
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 could not see. Now, nearly everyone is willing to provide the data while placing orders on the phone. Additionally, it wasn’t that many years in the past that credit card holders expressed anxiety about various 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.
Cyber Threats- Despite of utilizing a secure transaction network, the e-commerce industry is all the time at a danger of losing their customers information and money due to unwanted cyber assaults. 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 examine, I have researched extensively on the Internet for resources. I chose the Internet as my major research medium because e-commerce continues to be a fairly new technology. Since it’s technology related, the Internet will provide the most recent information available. Printed publications is not going to be able to adapt to changes as quick 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 can be spent in the coming years.
The graph can help technology managers developing a business to business procurement system. This graph reveals web systems rate high on usability and on the identification perform. Users additionally see a reduction in search costs. The down side of the study shows that consumers rate web systems low on reliability, security and submit sale comply with-up. A technology manager can use this data to create a better procurement system to improve what is perceived as lacking by the consumer.