A Simple Guide on ECommerce And Questions About ECommerce

A Simple Guide on ECommerce And Questions About ECommerce A Simple Guide on ECommerce And Questions About ECommerce

What is Ecommerce

What is Ecommerce

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In this article, we will share with you A Simple Guide on What is E-commerce, ECommerce types, Ecommerce India, Ecommerce business Factors.

Questions About ECommerce

  1. What is ECommerce?
  2. ECommerce Types
  3. Ecommerce India
  4. The Success Factor of Ecommerce
  5. Failure factor of ECommerce

What is ECommerce?

What is ECommerce

E-commerce, referred to as the electricity supplier, refers to the Internet, intranet and value-added network on (VAN) electronic trading activities and related service activities, activities of traditional commercial links Electronic and networked. 

E-commerce includes electronic currency exchange, supply chain management, electronic trading markets, online marketing, online transaction processing, electronic data interchange ( EDI ), inventory management, and automated data collection systems. 

In the process, the information technology used includes the Internet, extranet, email, database, electronic catalog, and mobile phone.

In Simple Words, Electronic commerce more well known as e-commerce consists of the buying or selling of products via electronic means such as the internet or other electronic services. This type of trade has been growing rapidly because of the expansion of the Internet.

The need for electronic commerce emerged from the need to use computers more efficiently in banks and corporations. With the increasing competition, there was a need amongst organizations to increase customer satisfaction and information exchange. 

Electronic commerce started with the introduction of electronic funds transfer (EFT) by banks. Over time many variants of EFTs within banks were introduced like debit cards, credit cards, and direct deposits.

ECommerce Types

There are 5 common types of E-commerce:
  1. Consumer to business E-commerce (C2B)
  2. Business to business E-commerce (B2B)
  3. Business to consumer E-commerce also called online shopping (B2C)
  4. Consumer to consumer E-commerce (C2C)
  5. Intra organizational E-commerce

Ecommerce India

  1. The e-commerce market in India is estimated to grow from $10 billion every year to between $ 70 - 260 billion every year by 2025.
  2. It is also estimated that the e-commerce market is about 57% from small towns and the balance from the largest metros. 
  3. The most popular use of e-commerce is on travel websites, which is done by about 70% of all e-commerce consumers in India. 
  4. There are challenges to e-commerce companies operating in India - including some reluctance of consumers to pay for goods or services online. 
  5. Some companies are trying to get around this problem by providing cash-on-delivery as a service to their consumers

The Success Factor of Ecommerce

What is Ecommerce

Team literacy

  • Establish an organization that is sensitive and agile enough to respond to any changes that occur economically, socially, and environmentally.
  • An excellent management team armed with information technology strategies. A company's information strategy needs to be part of a business process reorganization.
  • Adequate market research and analysis. E-commerce requires a viable business plan and abide by the basic principles of supply and demand. The failure in the field of e-commerce is often the same as in other business areas, lacking the understanding of the basic principles of business.
  • Providing a 360-degree view of the customer relationship ensures that both the company's employees, suppliers, and partners have a complete and consistent view of the customer, rather than being selected or filtered. Because the customer does not have a good evaluation of the feeling of monitoring in authoritarianism (big brother).

Technical support 

  • Build a business model. If there is such a paragraph in the textbook in 2000, many ".com" companies may not go bankrupt.
  • Provide a website that is attractive enough. This can be achieved with taste, color, pictures, animations, photos, fonts, and enough space left.
  • Smooth business processes can be obtained through process reengineering and information technology.
  • Design an e-commerce value chain that focuses on a limited number of core competencies rather than buying all solutions at once. If there is suitable programming, the online store can get one of the professional or general features.
  • Provides information that fully understands goods and services, including not only all product information but also reliable advice and recommendations.
  • Provide a well-designed on-site search engine and related recommendation mechanism. Users only need to search for the keywords of the products they want to purchase, and then search for the target through the classification of search results, such as Amazon.com.
  • Work at the forefront or as close to the cutting edge as possible, and follow the changes in technology. ( But it's important to remember that the basic rules of business and the basic rules of technology are very different, don't be fashionable in the same business model )

User experience 

A successful e-commerce organization must provide a satisfactory and meaningful experience to customers. They are made up of a variety of customer-first factors, including the following:
  • Offers If you want to do this, electronic sellers can offer products or their product lines to attract potential customers at a lower price, like traditional commerce.
  • Interaction Providing an interactive and easy-to-use buying experience and venue, as well as traditional retailers, can help achieve these goals to some extent. To encourage customers to come back to buy. Gifts or promotional coupons, offers and discounts are available. You can also connect to other related websites and ad networks.
  • Affinity Providing personalized websites, buying advice, personal and special offers can help increase interaction and personalization to replace traditional sales methods.
  • The community can chat rooms, discussion boards, and some customer loyalty programs (also known as affinity programs) are of some help to provide a sense of community.
  • Personalization Providing electronic personalization services, providing individual services according to customers' preferences, and making customers feel different experiences, can become the company's unique selling point and brand.
  • Self- service A self-service website, easy-to-use and unhelpful environment are all helpful. Includes all product information, cross-promotion information, consulting product replacements, supplies, and accessories selection.
  • Product consultations such as personal electronic address book, online shopping, etc. Provide a safe and healthy review of information and components to customers through a wealth of comparative information and good search equipment. It can assist with personal electronic services to identify more potential customers.

Failure factor of ECommerce

What is Ecommerce

  1. Security Risks- How to protect customers' personal data and prevent leakage of transaction information is the most important issue, including transaction security, authentication security and data encryption, including the security of transaction accounts, the security, and liquidity of transaction funds.
  2. Reputation risk- includes product quality and service quality risks. Because in the process of e-commerce transactions, it is generally difficult to meet customers to establish a trust relationship like traditional transactions. The establishment of online customer service and telephone customer service is very important, if it is not satisfactory in terms of timeliness, attitude, and answering questions, or Logistics and after-sales return services are not in place, it is possible to return customers to traditional trading methods.
  3. Model homogenization risk- With the continuous deepening of e-commerce, the three stereotypes of B2B, B2C, and C2C obviously cannot adapt to the needs of consumers for individualization and diversification. Therefore, enterprises must strive to embody personalization when implementing e-commerce. To avoid the misunderstanding of homogenization, it is impossible to enhance the competitive advantage of enterprises.
  4. Insufficient internal conditions of enterprises generally lack understanding of e-business, and enterprises must achieve much e-commerce, and there are undoubtedly many uncontrollable variables.
  5. Insufficient capacity of project managers: In the case of insufficient management ability and experience, and the cognitive gap between them, the result of e-ization is not required by the funders, resulting in excessive waste of resources, funds, time and manpower.
  6. Consistency of experience: in the progress of project execution, if there is a replacement of the supervisor, it will cause the interruption of experience, which will cause great frustration in the execution of the e-project.
  7. The support of the company's employees: e-system, is only one of the many tools to support the operation of the operation, if the internal staff of the company resists e-ization, it will cost hundreds of thousands, and even tens of millions of systems will be idle, resulting in a plan. Improper results of miscarriage. One of the keys to E-ization is that the company's own operating procedures and habits can't be adjusted.
  8. The big environmental factors make the e-commerce platform fail. One of the most important reasons is not technically impossible to overcome, but the overall environment is not conducive to the maintenance of e-commerce. To be successful, it must have a large group of consumers. Flowing in the context of e-commerce.
  9. Insufficient size When the scale of e-commerce is large, it often leads to a reduction in operating costs. Many e-commerce companies are difficult to win in a competitive market because of their insufficient size.

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A Simple Guide on ECommerce And Questions About ECommerce
A Simple Guide on ECommerce And Questions About ECommerce A Simple Guide on ECommerce And Questions About ECommerce
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