Electronic commerce is exponentially expanding by leaps and bounds. The Internet is a viable marketplace for commerce and the medium of the future. By the year 2001, it is forecast that there will be 220 billion dollars in transactions over the web from hundreds of thousands of commercial web sites. Surprisingly, it has been suggested that 80% of these sales will be business-to-business transactions rather than the retail type sales to the public which are currently getting the most attention. The quintessential example of e-commercce, Amazon.com has yet to turn a profit but there are many businesses enjoying a large profit margin.
Ultimately, the E-Commerce is a far more powerful way to market products. A catalog or showroom may offer a dozen items. A Web site offers more than 100. A catalog might mention that a reading desk requires assembly, while the Web site tells a customer just how difficult assembly will be.
They can execute orders faster, with no waiting on hold or in line for a sales person, and track their shipments via computer rather than by calling to ask when orders might arrive.
It's a better way to sell. In years ahead, more and more companies are expected to handle their supply and distribution functions electronically in the belief that it will increase efficiency and cut costs.
As the new millennium approaches, E-commerce is more than a new frontier. It is a critical business medium. This medium develops new customers, offers instant service, and stays in close touch with your customers, colleagues and vendors.
Advantages of E-Commerce
Penetration
The most important advantage that E-Commerce and the Internet is the audience reach. In a typical business, the target market may be the local community or, with a larger advertising budget, may extend to neighboring communities. The Internet greatly extends the reach of even small businesses. It allows companies to market to literally millions of customers both locally and
internationally The Internet is the tool that lets a business compete with the huge companies that have an endless advertising budget.
Limited Cost
The second major advantage of E-Commerce is cost. For a very small investment, a company can establish themselves on the Internet and open for business or extend their existing business.
Types of E-Commerce
On-Line Brochure
For many companies, the only aim of their Internet activities is to create a internet presence which usually doesn't amount to much more than the equivalent of an 'electronic brochure'. This may include a description of the company, perhaps a description of the company's product lines and contact information.
Surprisingly, if properly advertised, even a simple site such as this can bring a company some new business. Some customers will pick up the telephone, call for additional information and perhaps, eventually even buy the company's product.
Commerce-Enabled Web Sites
Internet users are becoming more and more willing to make purchases on-line. By not offering customers the chance to buy your products or services immediately, many selling opportunities will be missed. This is the reason that eCommerce is becoming more and more common and is also the reason why your web site should include the ability for customers to make purchase on-line.
All-in-One Store Building Services
Businesses are looking for a way to actively sell their products on-line without having to get too involved in the technical aspects of on-line store development. Several companies have begun offering all-in-one solutions for setting up an on-line store without the business having to get too involved with technical development issues. These solutions involve building sites entirely on-line so there is no software to download, install or configure.
Three of these services are iCat Commerce Online, Yahoo! Store and MerchandiZer.
E-Commerce Facts
Currently the Internet has over 70 Million users Enterprise Web Site Growth is Exponential By 2000, 50% of Wireless Subscribers Will Have Access to Internet By 2000, Wireless Access to Voice and Data Will Be Standard Component to Enterprise Remote Access Strategy
E-Commerce Related Sites
Safetechnolgies - broad range of E-Commerce Solutions
Roundpeg - to improve Internet Presence
One Source - To initialize your E-Commerce Dept
Envision - Consultants for E-commerce Problems
E Commerce Times
