Since the advent of internet, dictionary has been changed quite a bit. High Costs- One of the main ache level of a seller in the conventional ecommerce business model is the involvement of a middleman, who takes away a good share of money on every purchase. The seller has to pay the transaction processing fee for completion of each transaction.
Online marketing allows e-commerce businesses to reach a larger target market more effectively. No longer are businesses marketing solely to the people who can drive to their stores; now, anyone who suits the target profile, anywhere in the world, can be targeted by effective online marketing techniques.
Considering the world market for eCommerce , the Sri Lankan market is pretty small. That is one of the main information 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 local players would have been taken away by the international players. However, the truth is that the Sri Lankan eCommerce market remains to be considered by many international players.
Another funding option open to small businesses is business or merchant cash advance (MCA). MCA providers buy a percentage of your future credit card receipts at about 15%-50% low cost for a lump sum that’s paid as an advance. The quantity of advance is based on the month-to-month volume of your credit card sales, and time in business. It requires no collateral and minimal paperwork. The approval rates are excessive and the processing time is as brief as three-7 days. MCA works for businesses on the lookout for immediate funds that can be paid back within a year.
The other forms of ecommerce are the G2G (Government-to-Government), G2E (Government-to-Employee), G2B (Government-to-Business), B2G (Business-to Government), G2C (Government-to-Citizen), C2G (Citizen-to-Government). These transactions involves primarily with the government, from procurement to filing taxes to business registration to renewing license. There are still plenty of other categories that exist but then they tend to be superfluous.
One strategy to measure the impression of e-commerce on the global economy is to realize the way it has affected conventional brick and mortar businesses. There is no capacity for conventional brick and mortar businesses to remain out of e-commerce; the business merely will not thrive and not using a web-based component.
Non useful requirements focus on the usability, security, reliability, and the performance of the procurement system. The usability operate refers to the ease a particular system is to understand and use. Security of the procurement system touches on the hazards that someone might encounter while using the system. Over the past few years this has become one of the most vital issues in online purchasing. Consumers are targeted often by criminals who fleece them of their money as well as their information. Reliability refers to the proper functioning that may permit the system to perform effectively every time. The overall performance of the procurement system should incorporate all these components to keep up all the non practical requirements.