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At Commerce, the term that is almost everyone’s mouth these days is independent of whether they know exactly what it is or how it works. So what is E commerce?

At the simplest level; Ecommerce is simply the purchase and sale of goods, services or information through the World Wide Web, email or other avenues on the Internet. Let’s be very clear, let’s say you are in the mood to buy today and turn on your PC, connect to the internet and go to the homepage of the website and browse the product you are looking for. If you find something you want to buy, pay it online, no traffic, no hectic market bustle. You did all this by sitting in front of your computer. E-commerce or e-commerce consists of the purchase, sale, marketing and service of products or services over computer networks.

According to Forrester Research (as reported in Kessler, 2003), e-commerce generated sales of $ 12.2 billion in 2003. The meaning of e-commerce has changed over time from commercial transactions electronically to purchases of goods and services through World Wide Web through secure servers (SSL communications) with e-shopping carts and electronic payment services, such as credit card payment authorization, more precisely called Web-commerce.

E-commerce has gained acceptance from both buyers and sellers since its humble beginnings in the early 1990s in the US. So what led to this is that both the buyer and seller are pervading, and so are the goods, and yet it is being delivered.

In order for an e-commerce venture to succeed, one must first pay attention to the product convenience factor. Some products, such as perishable goods, may not be suitable merchandise for an e-com venture where music and movies are. Examples of these types of companies include Schwab, Google, eBay, Paypal, Egghead and Morpheus. The success factor in this endeavor is to provide customers with accurate, reliable information about goods and services. Since there is no direct contact between buyer and seller, the trust factor is of great importance.

E-commerce and e-commerce are replaced terms. So what you call a shopping mall has replaced the site so that it can be said that the website is the most important part of e-commerce. There are several factors to keep in mind when developing such a website. The first thing is credit card transactions online. In order to avoid missing out on many important and profitable sales, some form of online credit card processing needs to be implemented. Because websites act as a store of products and services, you want to sell online. Your website visitors are mostly window buyers and search engines. The purpose of a commercial website is to convert these search engines into buyers. A website should be designed in such an attractive way that it can earn you money. Buyers should be easily navigable. Much of the information you need should be available on the homepage. Using good quality images to make the customer feel product, because one of the main obstacles in this business is the inability to touch and feel the product.

Let’s look at the factors why the ecommerce segment has only a few survivors:

Lack of market research:

One of the main reasons is customer misunderstanding, why they buy and how they buy.

Even a product with sound value cannot succeed if manufacturers and retailers do not understand the habits, expectations and motivations of customers.

Competitive situation:

Sometimes investors lack the ability to evaluate and take full advantage of the market, even though they have a good e-business model. A classic example of this is, which had a classic e-book page but has yet to see much profit.

Logistics Edition:

Logistics is a major factor as they have to match the claims of the seller or otherwise lead to customer dissatisfaction. Most e-commerce failed because they did not have a good delivery system to meet their requirements.

Failure to bring in employees:

If planners do not explain their strategy well to employees or give employees a complete picture, then training and incentives for employees to adopt the strategy can help. Even if the transaction is online, employees run the show.

There may be several reasons for slow listing, including:

Security Concerns:

Many people will not use credit cards online because of concerns about theft and fraud.

Lack of instant gratification of most e-purchases (non-digital purchases):

Many consumer rewards for buying a product lie in the instant gratification of using and displaying that product. This reward does not exist unless someone’s purchase arrives within days or weeks.

Web Store Access Problem:

The problem persists mainly for poor households and developing countries. Low penetration rates in some sectors reduce e-commerce opportunities.

Social aspect of shopping:

Some enjoy talking to sales staff, other customers, or their cohorts: this social rewards of retail therapy does not exist to the same extent in online shopping.

E-commerce is a concept that should remain here, but many things need to be edited to ultimately change the idea of ​​consumerism. To gain market share it may be necessary to wait for profitability.

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by Paromita Chowdhury




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