In its simplest form e-commerce is the shopping for and selling of merchandise and services by businesses and consumers over the Internet. The market has not been reached in full because most of the internal players are beginners and have no sufficient funds to meet a bigger portion of the market. Other than the monetary concerns, the local eCommerce businesses do not have enough experience to learn from and then adapt to new techniques. Despite lack of adaptation from the local eCommerce businesses, the customers do change their service providers. That is one of the indications that not all the customers are satisfied with just one such service provider. It is common for nearly all Sri Lankan eCommerce businesses because they are indigenous and have no place to construct a business model based upon. They cannot merely copy the international businesses and their business models because the circumstances on the ground are not just like what existed while the international players started their businesses.
On technical grounds, we can consider M-commerce as part of E-commerce marketplace because it gives authority to the user to do transactions utilizing his mobile phone. The best example is companies involved in outsourcing businesses make use of customized software development and get in touch with the client via B2B E-commerce. The more widespread B2B examples and best practice models are IBM, Hewlett Packard (HP), Cisco and Dell. Cisco, for instance, receives over 90% of its product orders over the Internet.
Businesses selling to the general public usually via catalogues utilising shopping cart software. The basic model is to sell the product online to consumers. B2C is the indirect trade between the company any consumers and it provides direct selling via online.
So, for example, say have get the idea for creating a eCommerce site that imitates a more famous eCommerce website resembling (not stealing the site’s layout or format naturally!). On this case, you would 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 to your set up eCommerce site that may sell your own niche products. You may even have them help you to set up a url and a domain internet hosting service for a small fee (when it’s not included) in case you need it.
Getting a merchant account is also vital for e-commerce. A merchant account is the one where the money transaction activities will take place. It’s therefore vital for e-commerce to get a merchant account before beginning their business. Failure to get a merchant account would result in a failure to initiate an e-commerce business as the cash transaction process could not take place.
When one goes out to the supermarket or store to purchase an item, many other costs are actually shouldered aside from the price of the item. First amongst them is the value of travel from the home to the store. Another value would be time lost for opportunities to earn more. If one engages the services of e-commerce, then these prices are definitely avoided thus making for savings for the particular person.
Blockchain technology is transforming the ecommerce industry by decentralizing the management and slicing the existence of middleman from the landscape. But, before exploring the potential of Blockchain technology for e-commerce industry, let’s dig into the current challenges that the e-commerce industry is facing.