E-commerce is quickly developing trend of business these days. eCommerce is safe! The fears that many people continue to harbour in regards to the security of their data are unfounded in the majority of cases. With its prominence, it could certainly do good for a business to begin expanding market by way of the internet. However, e-commerce can do as much good as dangerous. Abilities for online business transactions are additionally needed for it to be a success.
Mainly, e-commerce is a quick phrase for electronic commerce-a shirt purchased online is e-commerce and men’s clothing at work, simple as that. So where would one go to seek out the largest variety of men’s clothes online? Of course, this depends on subjective taste, however there are online boutique-like stores that present great deals to members, resembling , where there are deals every day. In actual fact, GILT is so well-liked, that often an item is bought out in the first few minutes, proving the success between e-commerce and men’s clothing as a growing trend. Staying fashionable can get pricey, although. So where to go for the best deals? Sure, there may be local stores with slightly used clothes or some great sale near you, but the internet trumps most of that easily. As a clichÃ© as it might be, to seek out the best’ deals on men’s clothes is thru eBay, Emperor of E-Commerce. Finding Lacoste polos for more than fifty percent off is just the tip of the fashionable iceberg.
It is quite true that the market has not been reached by the native players. In reality not even five percent of the market has been reached by all native players combined. Inside the reached market, round ten percent is covered by the international players. What this means is that although the international companies are not giving considerable effort to keep targeting the Sri Lankan market, they still have an impression on it. One reason for this trend might be the spreading of Sri Lankans who live all around the world. These people have a worldwide presence so that makes them to order products via internationally known eCommerce businesses to be sent to their friends and family again in Sri Lanka. This in flip gives exposure to the locally residing people who then begin continuing.
To your online store, you should have a few payment options in place in your customers. Most e-commerce store builder platforms already have features to will let you easily set up the payment gateway. The customer ought to have options to make payments through PayPal, credit card, debit card, online wallets, Internet banking, etc.
Considering the world market for eCommerce , the Sri Lankan market is pretty small. That is one of the major information that are in favor of the local players. If it were something like the Indian market with several thousands and thousands of customers for eCommerce , the local players would have been taken away by the international players. However, the fact is that the Sri Lankan eCommerce market is still considered by many international players.
Cyber Threats- Despite of utilizing a secure transaction network, the e-commerce industry is all the time at a risk of dropping their customers knowledge and money due to unwanted cyber assaults. Blockchain technology is a perfect solution for resolving these challenges. It provides highest level of security by utilizing distributed ledgers for managing the e-commerce database management systems.
1. Business to Consumer (B2C) – As the name suggests, it’s the model involving businesses and consumers. This is the commonest e-commerce segment. On this model, online businesses sell to individual consumers. When B2C started, it had a small share in the market however after 1995 its progress was exponential. The fundamental concept behind this type is that the online retailers and marketers can sell their merchandise to the online consumer through the use of crystal clear data which is made available via varied online marketing tools. E.g. An online pharmacy giving free medical consultation and selling medicines to patients is following B2C model.