The process of buying and selling of merchandise or services online is termed as Electronic commerce commonly generally known as E-Commerce. This refers to any type of electronic transactions of merchandise or services that take place between the seller and the customer. By far, this can be a very frequent type of E-Commerce. A lot of the E-Commerce businesses online as we speak are principally small “Ma and Pa” home based businesses. Yes, that is right, the American dream of “Business Opportunities from Home” have skyrocketed and placed a warm glow into the hearts of every entrepreneur.
Blockchain technology is reworking the ecommerce industry by decentralizing the management and chopping 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 going through.
This article is largely constructed round e-commerce and the approach during which technology is remodeling the world of retail. The question is therefore raised as to what has made e-commerce the method we realize it at this time? In order to answer this question it is a necessity to debate the origins of the Internet.
Two necessary factors to consider when considering good e-commerce practices are purposeful requirements and non functional requirements. Each of these affects the day by day operation of the online procurement system. The consumer interacts with each item and their sub compartments during each purchase. Practical requirements are the expected services provided by procurement systems. Non useful requirements deal with how well the systems work. The difference between the two is vital, however they cannot operate fluidly without each other.
Besides, with E-Commerce, your online store is reachable utilizing smartphones and other mobile devices. This means that people should purchase your merchandise from anywhere while on the move. Ever since Jeff Bezos boxed up the first book ever bought on from his Seattle garage in July 1995, e-commerce has become the Great Equalizer. It permits the smallest of businesses to compete with the giants of their industry.
E-commerce supports external business communications. The Internet is comparable to a warehouse of the future where one can find all the necessary information about items wanted and then order them online. This has meant that businesses can know longer rely on previous practises and should continue to evolve in order to meet ever altering customer demands.