Virtual firms and the internet are changing our traditional thinking, accepting economic practices and competitions which get even fiercer than past eCommerce strategy. As the internet opens the scope for marketer or vendors to take their business online. All marketers are offering a better price value preposition to steal the market share and grab the customer’s view.
Ecommerce is called to be fast gaining ground and your traditional way of doing business. The main aspect of doing business online includes:
- Business to Business(B2B) trading which involves, company trading with another business.
- Business to Consumer(B2C) trading which involves, the company directly dealing with consumers over the world wide web.
Ecommerce may affect the business positively and negatively both. On the positive Side eCommerce had made it easier for businesses to reach an as much wider range of customers at fewer expenses. With eCommerce, there is no need to acquire more expensive stores in high streets. You can open your store in a remote area and sell your products and advertise your business worldwide. While the cost of developing eCommerce site for your business is substantial, that’s cheaper than to acquire store in the high street area. Additionally, if you have your online portal you can easily reach out to your client worldwide. The next thing is that you will always ensure with you have access to appropriate means of transporting goods whatever your customer order.
On the other hand, when we see the negative points, the established enterprises may get difficulty in retail their share market than before. More competitors are entering into the market with their business, traditionally dominated by the established companies, making competition fiercer than ever.
Traditional Companies that had spent a lot in physical infrastructure are suddenly finding themselves being outsmarted by a startup with much less physical infrastructure. These all Ecommerce startup ships are good from an oversea supplier who produce high-quality goods with fewer expenses.
When we go through boon and bane that’s all depends on which form of business you are leading – that’s a Startup or traditional one. Now, these days Ecommerce helps traditional business too. Because some of the traditional businesses have their own websites and physical entity too, there is the possibility of doubling of profit level. Ecommerce is one form of tool which needs proper utilization, then you can get the best benefit of it.