FOREX
ECOMMERCE AN INSIGHT
The concept of commercialization and
business has changed drastically in the
last 20 years due to the rapid pace of
development of technology. The world is
becoming a smaller place due to the
expanding electronic way of life that
has encompassed the entire business
community. Ecommerce has opened the
doors for cross border business dealings
in real time. This has benefitted the
users most as they can enjoy the
convenience of ordering stuff by sitting
in front of their work stations. Be it
receiving invoices, making payments,
orders processing, filling the shopping
cart or exchange of information; it can
now be done online. There is no need for
the housewife to travel to the closest
store or go 10kms in to the city to get
her household items. All that she
requires to save herself from all these
troubles is an internet connection and
then, she can shop for more items than
the ones available in the closest real
physical market. This represents the
shopping culture of the present day. The
complete metrics of a store has changed.
The tiny mismanaged retail store located
at the corner of the street is now
replaced by an online store, and the
salespeople in the store are now
replaced by the customer care people of
the virtual shop.
Ecommerce is widely accepted by all
people because of the following
benefits:
-
Low cost for set up – The services
provided by the online stores don’t
require any huge investments. If you
are clever then you may not even
require any physical merchandise in
the beginning. The products are just
displayed on the site and they can
be bought by you after the customer
pays for it.
-
Free Market – The ecommerce market
does not have any restrictions for
entry. It has no limits and
therefore, serves as an excellent
platform for budding small players.
-
Global Access – Just like there is
no restrictions for the number of
sellers, there isn’t any restriction
on the number of buyer’s too.
Ecommerce has a large customer base
because ecommerce is not limited by
physical boundaries.
-
Technology – Since ecommerce is
being used by more and more people
each day, companies are developing
newer and most user friendly
technologies each day to make
ecommerce more effective.
-
Real Time Transactions – Electronic
transactions takes much less time
and effort to complete.
-
Cost Effectiveness – Since the
supply chains are shortened, there
is a reduction in prices of the
products.
-
Easy Payments – There are several
services that help you make payments
through the internet by just
clicking your mouse a couple of
times.
-
Personalization – The ecommerce
systems keep a record of all the
customers and their purchases,
thereby personalizing his visit when
he comes back for the second time.
Advanced technology, cut throat
competition, shorter supply chains and
globalization of economies are a few of
the several factors that are fuelling
the rise of ecommerce. The theory
“Survival of the Fittest” by Darwin
applies in the ecommerce world too.
Contact
one of our helpful account
representatives to assist you in the
setup of
a
high risk merchant account or
offshore merchant account for a
high risk merchant. |