Question

What are the intricacies of internet commerce?

Answer 1

Internet commerce or E- commerce is a virtual market place and is used for the activity of buying and selling of goods and services over the Internet or online that is over an electronic network. These business do their transactions and trade to different consumers either B2B( business-to-business) or B2C (business-to-consumer). ECommerce business has a huge scope and growth prospects with their massive online product catalog. This marketplace has enabled business from all over the world to easily reach their target customers. But this mode of business along with its ease has some of the intricacies or complexities such as:

• the core platform of internet commerce relies on electronic network and many other enabling technologies which includes management of the websites and mobile applications enabling the business and marketing , online order management, web content management and also social media platform and digital marketing platforms.
• Since the internet commerce depends on multiple technological support system the task of enabling technologies and maintaining them along with the management of licenses and authorization is an ongoing and consuming job.
• A great deal of the resources and funds are spent on acquiring and managing separate systems, interface and supporting technologies of internal and external business this some times acts as a distracting factor from the core business activities.
• The internet market is evolving and getting more competitive every day with new vendors, business and companies entering the space thus the existing companies are struggling to keep pace with market demands.

• Modern E-commerce companies face the complexity of collaborating different offices and departments which are geographically scattered. Merchandisers of e-Commerce need to strategically operate through some integrated channel which can share information and align the activities of database management , ordering, delivering and other activities of the business in a seamless manner .

• The platform of internet commerce being solely dependent on technology creates a pressure on companies to manage and handle all the technical issues of running an online server , bandwidth ,cyber security, secured payment gateways, data privacy etc

• Being a virtual platform this business lacks the customer experience of physically handling and experiencing the product thus to accurately demonstrating the details of any product and service and to manage delivering the ease of buying and selling online is the deciding factor and failure to deliver on any of these aspect will lead to failure in retaining customers.