The Dynamics of Ecommerce in the Business Arena
The introduction of information technology into the business sector came as a huge step of development to the economy worldwide. This is because it enabled a lot of individuals to get into the business, who would have otherwise not afforded to run their businesses due to lack of capital. This was due to the efficiency that technology brought into the business sector. One of the benefits that it introduced was the use of virtual space. Traditionally, merchants and other business operators had to pay for the physical space through which they transacted business. They paid rent and other costs of production which made the operation of business very expensive. Currently, as we speak, a business operator needs not to pay for any space that they require to transact business with their clients since all they require is the internet, which has unlimited free space for any entrepreneur who wishes to sell their merchandise.
The other advantage of e-commerce is the ease at which the operators can manage to start and run their businesses. The only requirement that is needed of the merchants or the entrepreneurs is to have some merchandise in place, which they want to sell to their customers. After that, they are required to have a website or a social media account where they can promote their products or services so that they can lure customers into buying from them. After the purchase of the websites, the merchants are left with the sole responsibility of finding some internet connection so that they can communicate with their customers.
Assuming that not all the merchants have the ability to develop their websites, there are a lot of website developers on the internet, who require to understand the purpose of your website and they would develop it on behalf of the merchants within minutes. Such websites include https://www.stitchlabs.com/learning-center/markup-vs-margin-whats-the-difference-and-how-to-calculate-it/, whose vendors are also experts in other fields as accounting and finance. Using such vendors, the merchants and other potential business owners can get their websites developed and started their business operations immediately. However, E-commerce has not been short of challenges since its introduction in the business sector. Consider the following:
A lot of business operators relied on employees who they sent to different geographical locations to hunt for customers to buy their products or subscribe to their services. However, after the digitization of the business arena, most of the employees were rendered redundant, and hence their employers had to retrench them in their quest for reduced cost of operation. Though it had a lot of benefits to the merchants, it was, on the other hand, detrimental to the people who lost their jobs.
No Guaranteed Quality for Products
As we all understand, when we talk about e-commerce, we mean that the business transactions are done by two virtual parties, the merchant and the buyers, who barely know each other. To make matters worse, the customers do not enjoy the privilege of viewing the product to confirm if they were real or even of the quality that they needed. This is a disadvantage to the clients because they can also fall victims of cons.
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