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Commerce is an activity that involves the trading of services, money, goods, products, information or anything with value between two entities.
E-commerce (electronic commerce) is basically an activity that involves the trading of services, money, goods, products, information or anything with value between two entities over the Internet.
The Internet would act as a medium between the two entities. Aside from the Internet any transaction that uses an electronic device as the primary medium for trading can also be considered as E-commerce. These electronic devices can be, but not limited to, fax machines, phones and mobile phones.
With the arrival of e-commerce several electronic related transactions have come into existence, these are but not limited to, electronic money transfer, online marketing, online processing, automated inventory management systems, electronic data interchange, and automated data-collection systems.
There are several success factors that must be noted. These factors are also applicable for the 'brick and mortar' type of commerce.
Attracting prospective clients by offering them quality products at reasonable prices. This factor is also applicable for non e-commerce transactions. This is called giving value to customers.
Providing an efficient and fast service is one way of ensuring customer satisfaction. This is the next best thing clients must be provided with if they cannot have the usually person-to-person approach.
An attractive website would definitely catch the attention of prospective clients. Ensure that your web site follows the criteria for having a successful web site. A successful website usually have met the criteria for content, organization and appearance.
Incentives are essential in having clients come back to your site for more transactions. Offering them member discounts is one sure way of getting your clients back to your web site.
Having a membership database would also enable you to provide a personalized touch for each of your frequent customers. This would in a way make them feel valued.
Provide for blogs or an e-community. Having chat rooms, electronic newsletters, message boards and other means by which clients and entrepreneurs alike could have an on-going communication. This is a two way street, where clients get info about products and services and owners get feedback on what products to sell or services to offer.
Several security issues have been noted about transacting on-line. Clients must feel that you are providing them with reliable security. Clients are also aware of new technologies on Internet security; they should be able to see you implementing these new technologies.
In any system streamlining business procedures is always a constant process. Newer technologies also offer other alternatives in ways and means to streamline business procedures.
The simple e-shopping cart would enable clients to have that 'in-control' experience. A good analogy to this is a grocery store where customers can view, read the product description, know the ingredients and other information of the product. They could then sample other products before actually purchasing any product.
Providing good search engines and sufficient information on a range of products is also one way of attracting customers to your site. All other related information about your products must be available for them with just a few mouse clicks.
Adhering to fundamental business concepts and creating commercially feasible business model are also the key to having a successful business in the Internet.
With a hundred web sites popping up everyday trying to sell something, web sites with a niche are doing great business. A client may feel that although the Internet can provide tons and tons of information it is lacking in substance.
Constantly harnessing the power of information technology and staying true to the basics of commerce is one way of keeping ahead. The technology can change very fast while the fundamentals remain constant.
Anyone who would seriously consider about venturing into e-commerce must also understand several concerns of would be customers. These are the 'traditional' customers who go into the shopping malls, convenience stores and midnight sales.
These clients are concerned primarily about security. Using their credit card for purchases made through the Internet would really scare most of them.
Waiting for an item purchased over the Web is also not a normal procedure for people used to having whatever the item they paid for right there and then
Access to the Web. Not everyone has an Internet connection.
Actual shopping enable people to actually try out products like clothes. Some people have made shopping an enjoyable hobby for themselves. On-line shopping may take not be able to offer this exact experience.
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