E-COMMERCE – A TOOL TO SAVE THE BUSINESS WORLD!
Beyond the expected and the unexpected, the world is shaking by a frightening challenge called Covid-19. With the closure of thousands of businesses and other activities, people are facing the inevitable question: How to make it work?
With the situation changing rapidly around the world, the buying habits of consumers have changed as well. They have switched from offline activities to e-commerce. This brings relief for the economy and sets the course for a rapid recovery.
With businesses allowing workers to work from home, a visible step was made towards social distancing and a transition to the digital world.
E-commerce service will open up completely new selling opportunities. This allows businesses to position their goods and services to a wide audience in the country and the world. It is a very effective way of increasing sales in a very efficient way, advertising goods or services on websites and accepting online payments immediately.
How to survive through e-commerce?
Digital approach has now become the popular stream. Every business is stepping into the new strategy to build a high competitive strength. To increase the customers and make the business a supreme, starting digital is the leading way to foster the business.
There are a large range of companies that can profit from their own e-commerce platform. Starting from start-ups and small businesses right through to big brands, where they can offer their own goods or services.
E-commerce allows commercial transactions to cross cultural and national boundaries more conveniently and cost-effectively. Practically the size of the market is approximately equal to the size of the online population. To penetrate and be part of it, businesses need to reevaluate their business process to e-commerce.
Most processes within the e-commerce system are performed through the Internet. Products and services are featured in online catalogs on the websites of companies with e-commerce features, product and service profiles, online financial transactions and all services related to the normal functioning of online buying and selling processes. Customers can order online items and then pay for them in various ways such as credit / debit cards, PayPal, bank transfer, payment by phone credit as well as payment on delivery.
E-commerce emerges as a platform for promoting products and services that will rebuild the existing economy. This will affect the organizational structure; will require different planning skills, new regulatory and legal framework. The evolution of e-commerce will have a profound impact on competition and consumer behavior, changes in how work is defined and managed.
Through e-commerce, businesses will be able to save time in sketching the product, designing according to the individual specification of the customer, ordering and distributing components, traveling sales and getting feedback from customers.
