25 Jul, 2021

E-Commerce and Merchants

E-commerce is simply the act of electronically purchasing or selling goods over the Internet or via online facilities. Today, there are more than one thousand E-commerce websites online that facilitate purchases for consumers, buyers and sellers. E-commerce also involves the facilitation of financial transactions between individuals and organizations. There are E-commerce websites that allow people to post auctions; sell products; buy products; and manage their financial accounts through secure web applications. Furthermore, there are also E-commerce websites that allow the buyers and sellers to come together directly to negotiate and finalize the contract and to sign documents, electronically.

There are E-commerce websites that provide a platform for b2c interactions between consumers and merchants. Through such interactive exchanges, buyers are able to compare and contrast products and prices from different vendors while b2c interactions help buyers and sellers establish business relationships. B2c transactions involve both virtual and actual worlds. Thus, real-time interaction with virtual markets and vendors is made possible through E-commerce.

E-commerce can be defined as a system in which goods and services are bought or sold over the Internet with the participation of the consumer and through the use of E-commerce transaction software or computer software. This system was widely popularized by eBay and has since then established its reputation as the largest and most popular marketplace in terms of total volume of sales. E-commerce offers numerous benefits for both consumers and sellers. For consumers, it allows them to purchase goods at competitive rates and from anywhere, at any time. Consumers can also choose to make cash purchases or use E-checks to pay for their purchases. For sellers, E-commerce provides a flexible business model in which they can accept payments online or through physical stores, giving them increased access to a larger customer base and enhanced profit margins.

E-commerce can be categorized into two main types – electronic commerce or m-commerce. Electronic commerce is comprised of E-commerce, such as eBay, Amazon, Overstock, and others, as well as online payments such as PayPal, Google checkout, and others. Electronic commerce includes tasks such as accepting credit cards, providing online catalogs and catalog delivery, and accepting and making payments through E-mail. M-commerce, on the other hand, consists of business transactions performed through phone or personal service instead of electronic commerce. Examples include auto insurance sales, real estate appraisals, utility companies, and others.

Both electronic commerce and m-commerce can involve complex business transactions. These include payment processing, which can include credit cards, debit cards, e-checks, PayPal, and others. E-commerce businesses may also require a lot of information from consumers such as their names and email addresses, as well as detailed descriptions of the items or services they wish to buy. Furthermore, because most transactions are conducted via E-commerce, consumers need to be able to interact with each other through instant messaging, social networking, and other tools that are readily available on most cell phones.

E-commerce websites have significantly increased the average wait time for consumers for receiving their products. Although some e-commerce sites do provide a better return on consumer investment by providing inventory, improved customer service, and better prices, these same factors can make it more difficult for consumers to wait in line at a physical store. This can lead to lost sales, fewer consumer purchases, and overall losses in profit due to the increased wait time.

M-commerce sites, however, have the potential to greatly improve the quality of business transactions. An example of this would be PayPal, which has no charge to consumers when sending money to friends or family via electronic commerce. A website such as ClickBank, which offers a wide variety of digital products including games, software, videos, wallpaper, music, and images, allows its customers to pay for the digital products they choose without having to wait in line at a store. Other examples of this would be CPA Networks, which offer advertising credits to businesses and consumers alike, and Adient, which provide businesses with digital customer support services. Both of these websites also have the potential to increase sales and profits because of their ease of accessibility to consumers.

With the popularity of many e-commerce sites, it is no surprise that consumers are apprehensive about conducting business through these websites. However, with the increase of merchant adoption, consumers are now able to conduct electronic transactions with companies anywhere they have internet access. This makes it possible for people to place orders from anywhere, which means they can place orders for items they want to have today, but not be able to get in until the item is available at the store they want to buy it at. While e-commerce sites continue to decrease the average wait time for consumers for receiving their purchased items, the merchants who use them are making it easier for consumers to pay for their merchandise.

25 Jul, 2021

Online Shopping Vs Traditional Retailing

E-commerce is simply the act of electronically purchasing or selling goods over the Internet or via online facilities. E-commerce can be conducted virtually or physically and includes all forms of trade that are made between two or more entities over distances not exceeding a reasonable distance from one another. In e-commerce, goods are normally sold or purchased via computer systems. With the advent of the Internet, the entire business of buying and selling has become possible at a distance. With the evolution of E-commerce, an increasing number of people are making business transactions online through online auctions, websites, online marketplaces and auction houses etc.

The term ‘e-business’ refers to business online, which involves the sale or purchase of goods either by physical presence or by electronic commerce. There are numerous instances in which e-commerce has replaced the traditional mail order and telephone sales. Many companies are shifting their focus from bricks and mortar to electronic commerce. E-commerce is mostly conducted through e-commerce sites such as eBay, Amazon, Overstock, Craigslist, Shopzilla etc. Though e-commerce has many benefits to offer, it also has some disadvantages.

E-commerce is prone to hacking. A person may use a common computer virus to break into your network and gain access to your personal and financial information. Hacking can take place even while you are offline and if you conduct secure online transactions, this risk cannot be avoided completely. You must make sure that you have a highly secured computer system for safe electronic commerce. As an ecommerce merchant you need to take certain precautions to ensure safety of your customers’ private information.

E-commerce retailers incur certain overhead expenses. Since e-commerce involves online payments, it entails expenses related to payment processing. To protect your customers from fraudulent transactions and to avoid payment-related problems like chargebacks and unauthorized charges, a good ecommerce merchant must undertake preventive measures. It is highly recommended that a ecommerce retailer gets an Anti-Virus software program to scan all incoming and outgoing orders. This will not only give you assurance about the security of your clients’ personal information but will also help you avoid fraudulent activities.

E-commerce offers consumers a wide variety of products online that they can choose from. For example, if you run a store selling clothes, shoes, accessories, bags, gadgets, toys or books; you can sell almost everything on the Internet since you have a global market. In brick-and-mortar stores, you can sell only a few items because you are limited by the space of your inventory and you have to fulfill orders immediately after receiving them.

In a typical business setup, it is more convenient to purchase supplies from physical locations rather than ordering them online. Online shopping is more convenient because customers do not have to travel to the store in order to buy the products that they want to buy. Another advantage of E-commerce commerce over physical commerce is that the overhead expenses incurred during E-commerce are less compared to other forms of commerce.

Most E-commerce websites offer free-shipping services to their customers. Free delivery services make online shopping more convenient for shoppers since they need not bother their friends and families about the products and services that they want to purchase. Aside from free shipping and convenience of purchase, another benefit that online shoppers get from visiting an ecommerce website is products and services comparison. Since they do not have to travel or drive to different shops to compare products and prices, they can save time, effort and money that can be used for other important business transactions.

Although there are advantages of E-commerce over traditional brick-and-mortar stores, there are also some disadvantages that consumers should consider before engaging in online retailing. One disadvantage is that transactions can take a longer time than what one may expect. This is because most online retailers perform Internet processing using various computer programs, thereby reducing the time needed for data entry. Also, because of the reduced processing time, online shopping can sometimes be more expensive than traditional shopping. E-commerce websites usually provide their clients with cost-effective payment options such as credit cards, PayPal, direct payments and other electronic transactions.