Achieving business targets had never been this difficult. It has become really hard to manage the complexities of competition that has risen with the introduction of e-commerce. Running in the race requires adaptation of the changes that are taking place in e-commerce. Only those who assimilate and learn from evolving technology are able to survive the competition. It also depends on the organization’s ability to be flexible and respond actively the changing environment. This is what keeping the entrepreneurs on their toes all the time.
In recent years, businesses that have embraced e-commerce and e-business have managed to be successful in the industry. Although it is not an easy task, embracing e-business calls for organizations to change their business models, business stratagems and also incorporate their business processes with advancements in technology.
E-marketing is considerably different from the traditional ways of doing business. With the help of data warehousing it has become possible to know about the preferences of the customer rather than one generic advertisement that was used for addressing whole public. It is now easier to influence the buyers by recognizing their needs and providing the solutions to the specific individual consumer.
In USA, estimates placed e-commerce growth at 16% growth every year or at least doubling after every five years. Many big guns such as Amazon and eBay still hold a lot of the market share.
There are various trends that are providing more and more business opportunities in the field of IT. Nowadays there is a lot of scope for rental/sharing economy. The websites such as RentTheRunway and AirBnB are redefining their corresponding markets. The basic idea of introducing these services was to provide low-cost accommodations while traveling. It then evolved into a massive marketplace that helped redefined short and long term access to living.
Google has just launched their shopping express which allows the customers same day delivery for no cost. Stores are being eroded by e-commerce and it has proved as a very good opportunity for Google to provide offline services and to speed up with an online interface as well as user experience.
For our ever increasing busy lives, we need prompt solutions for our everyday problems. There are many online companies that are providing simple ways to get repair, sell and protect your devices. Your local iTech can repair your phone or tablet in 30-45 minutes at your home or office.
E-commerce is growing rapidly and so are the problems that need to be addressed. As the trend of online shopping is increasing, there is an increased need for easy returns. There are only very few high-end sites that allow the returns for free.
The online Shopping of clothes and accessories is a big part of e-commerce but it also has a disadvantage. These cannot be tried out by the customer until it is delivered on their doorstep; therefore there is a need or finding solution for this issue as well.
While there are a lot of solutions that are tied to specific pharmacies, it would be great if drugs are delivered to the customers and they would be happy to pay for this service.
There are many opportunities that are present on the online platform and the magic of e-commerce lies in creatively alleviating points of friction. These just need to be explored by us.
Working actively and efficiently is the essence of e-business. Not enough time can be spent on first analyzing and understanding about the new technologies and then making decisions to embrace and grow into the e-business process. Wastage of time may turn into a success or failure. Therefore entrepreneurs need to work fast for migration of their traditional business ways to e-business platform.