E-commerce has shortly became a manner of life, but like with anything – it has it’s advantages and disadvantages. Considering the world market for eCommerce , the Sri Lankan market is pretty small. This is one of the major details that are in favor of the native players. If it were something like the Indian market with several hundreds of thousands of customers for eCommerce , the native players would have been taken away by the international players. However, the fact is that the Sri Lankan eCommerce market continues to be considered by many international players.
Likewise, in case you have an online business, you’ll need to convince your potential customers or Web site browsers to make a purchase for the products you are selling out of your Web site. Once consumers decide that they’re ready to make a purchase, they’ll need to be guided to an online transaction or secure Web server so that you could collect their personal and payment info utilizing a secure encryption method. It is possible to create a Web site that can collect credit card and other sensitive knowledge with out offering encryption; however, most savvy shoppers will never enter credit card data right into a nonsecure Web site. Therefore, we highly discourage any attempt to create a simple shopping cart that does not include secure socket layer encryption of personal or sensitive data. Operating a Web site with out encryption for personal or credit card knowledge is a sure-fire system for disaster and lack of potential customers.
Businesses selling to the general public sometimes by means of catalogues utilising shopping cart software. The primary model is to sell the product online to consumers. B2C is the indirect trade between the company any consumers and it provides direct selling through online.
In the business-to-business model, enterprises contact one another to enter into contracts. A business relationship among a firm and a supplier is the conventional example. This is one of the most promising models. The next model, the business-to-consumer model, is barely barely different as enterprises trade with private actors. This model is typically observed in retail trade. Online stores enable people to buy without leaving their houses. Everything a customer needs tosurf the net, browse and compare items then choose the supplier are available. Click on! It’s appealing easy,and convenient. And businesspeople, in flip, save on office, storage and workers.
three. Began a discount for volume purchases. If customers order a certain amount of each product they get a 5% low cost on that product. This makes shipping more efficient from our end, and increases the dollars of the average order. Well, this simple phrase called E-Commerce sounds pretty easy to perform, but keep in thoughts that, it might take a lifetime to master.
Universal Requirements – One strikingly unusual feature of e-commerce technologies is that the technical requirements of the Internet and therefore the technical standards for conducting e-commerce are universal standards i.e. they are shared by all the nations round the world.
These challenges have been bothering the sellers since the beginning. Thus, integrating Blockchain Technology to e-commerce sector can definitely be a superb idea for the whole system. Here comes the need of Blockchain technology for e-commerce industry which is capable of resolving all the challenges alone.