Welcome to the era of e-commerce. To put it simply, e-com is about doing business on the Net. Where all it takes is a click of your mouse and a flick of your finger and you’re on your way to being the proud owner of anything under the sun.Despite your best efforts, it’s quite difficult to avoid a brush with this new e-normity, if not a head-on collision. What with dot-com ads peeking out of the most unexpected places, large newsclips being devoted to it, and the huge valuations of Web companies in stockmarkets, it would be a cold day in hell when the E word wouldn’t crop up.
There are several reasons for this. First, the market for a Web-based business is not bound by any geographical constraints. Then the transaction costs go down tremendously in a well set up site. The company saves on the costs of the people needed to interact with the customers, demonstrate the wares time and again, and take orders. All this gets automated, online. Then the better, more inviting, convenient and comprehensive presentation of goods is conducive to greater sales. For instance, if you are at Amazon, you can take a look at what other people who ordered a particular book also purchased.
Facilities such as being able to compare costs of several stores at the same time, keep a tab on your selections, the flexibility of being able to add, delete, and even come back later to carry on choosing are quite convenient.Another plus point is the way the Web business can be integrated into the regular business cycle and give customers more information than ever before. For instance, customers at Dell can see exactly at what stage their order is, at any given point of time.
Improved customer interaction, at practically no cost to the company, is also a big asset. Keeping clients happy has suddenly become much more economical for the companies through their Websites. Which means that eventually the benefits of saved costs will be passed on to the customers lowering costs at the other end of the connection, too.Finally, there’s business to business e-commerce when companies buy from each other. For instance, a garment wholesaler may sell to a chain of retail shops, or Maruti may shop around for thousands of car parts from suppliers.
There are several reasons for this. First, the market for a Web-based business is not bound by any geographical constraints. Then the transaction costs go down tremendously in a well set up site. The company saves on the costs of the people needed to interact with the customers, demonstrate the wares time and again, and take orders. All this gets automated, online. Then the better, more inviting, convenient and comprehensive presentation of goods is conducive to greater sales. For instance, if you are at Amazon, you can take a look at what other people who ordered a particular book also purchased.
Facilities such as being able to compare costs of several stores at the same time, keep a tab on your selections, the flexibility of being able to add, delete, and even come back later to carry on choosing are quite convenient.Another plus point is the way the Web business can be integrated into the regular business cycle and give customers more information than ever before. For instance, customers at Dell can see exactly at what stage their order is, at any given point of time.
Improved customer interaction, at practically no cost to the company, is also a big asset. Keeping clients happy has suddenly become much more economical for the companies through their Websites. Which means that eventually the benefits of saved costs will be passed on to the customers lowering costs at the other end of the connection, too.Finally, there’s business to business e-commerce when companies buy from each other. For instance, a garment wholesaler may sell to a chain of retail shops, or Maruti may shop around for thousands of car parts from suppliers.
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