E-commerce was like a revolution, which has given the retailers and also the customers the ultimate freedom that they had been dreaming for since ages.
Some of the economic activities like electronic funds transfer, online transaction, inventory management system, supply chain management etc. world have remained a myth had e-commerce not flourished. Technology reaching its acme has letting information exchange take place in a blink of an eye. In such a scenario, it would have been absurd had not trade and commerce gained from it all. Today, the most tech savvy people are the businessmen. Learn, adopt, make money – is their motto! It is not only the B2B business communication which is making profit from it, but also B2C ones are.
Although, at the beginning it was USA and UK which were the two countries that were gaining the maximum from this, now almost the entire world has turned to e-commerce. E-commerce was like a revolution, which has given the retailers and also the customers the ultimate freedom that they had been dreaming for since ages. E-bay was the pioneer of online selling and buying. E-commerce has let a buyer get the product of his choice, irrespective of his location. Globally or locally people have been at the gaining end, after e-commerce took over the field of commerce.
There was a scheme put forward in the US state and local levels, of charging an extra amount on good that were being bought from the online stores. The US government however, rejected the plea, as they had foreseen that this would prove to be an impediment in the course of E-commerce. The taxes of these products that are sold online have a close group of stakeholders who are the onlookers.
Among the industries that are flourishing through e-commerce are: Travel services, Online Retail, Financial Transaction services, Travel industry, E-commerce software, Shipping, and Consumer Electronics goods. Though, a number of other industries like the cosmetics industry, apparels industry, are also gaining a lot of customers, who buy more than one product form a single online store.
In a lot of cases, online stores can offer their products at a low price. This has been possible since they do not have to spend a lump sum amount on the interiors and maintenance of their stores. Virtual stores have cut down this huge cost on them. Of course, these businesses also can afford to work with fewer employees and yet reach far flung areas with their products.
One important keyword for these businesses through e-commerce is search engine optimization. Hiring a good SEO manager can take these businesses to a different level altogether that might double the profit that you would otherwise be making. SEO would help your websites, which is your virtual store, to come up among the top searches of a page in the search engines.
Another recent boon that e-commerce just got blessed with is the platform of social media marketing. With tweets and Facebook like pages, here is your chance to talk about your store and products. There have been other discussion forums and blogs too, where you can try to enhance your products. Marketing remains the main tip to win customers, be it traditional or online.
The upsurge of e-commerce has put the traditional businesses and retailers suffer a significant amount of loss. Isn’t it easy for you to book a ticket to Sarjah, and then to Singapore, within a couple of minutes, than going to the travel agent and book them. Saves you time and money – both; doesn’t it? A number of options than just credit or debit cards, like PayPal and other bank transfers, e-commerce have been made easier. The way technology is taking higher bounds a day would soon come when traditional businesses might almost cease to exist.