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27 May 2020
Get serious, know where to invest for business to succeed!
Humans are most dynamic in the world. As time changes the choice also changes according to the technology, comfortably and preference. It is good to be dynamic in every manner as it generates opportunity in some or other way. Traditional marketing was going very smoothly without any issue but because of the entrance on technology and internet service E commerce came into existence. By the time e commerce was getting slowly slowly speed but from past half decade it is rising rapidly all over the world. In this year 2020 many new e commerce products came into existence which were not very active in this race before like- medical sector.
Many reason can be there for the increase in the e commerce but some are due to its advantages:
Ø It is easy to avail as we do not need to go out for shopping as it is in our mobiles itself.
Ø It have large number of audience as no physical boundaries are there to limit them.
Ø It has very low operational cost associated with it because it need less workers and staffs as compared to traditional market.
Ø It is not needed to establish a face to face relationship with the seller as your profile have your all past and present records.
Ø It saves time, which is beneficial.in this busy world this factor plays a major role.It also not have a time bounded as it is a service available for 24/7.
Ø These points as are beneficial for purchaser and seller but which lead to the increase in the market of e commerce. A new facility is emerging very fast in all products i.e. EMI for payment and it is also beneficial. For seller it is creating demand and for buyers it is making easy to pay.It gives many variety in which e commerce can be chosen for like e commerce can be Retail, Wholesale, crowd funding, drop shipping in nature. There is no limit in any type. As every investor have their own needs and goals to achieve.
There are also service providing E commerce platform where the seller is the one who gives certain skills, set of skills & information in the exchange of compensation. It have a facility of subscription also if it is reoccurring in nature.
Be aware from limitations:
Ø It does not have face to face interaction.
Ø Person who do not have mobiles it is not available for them.
Ø It takes time for delivery which means it is not for immediate need.
Ø Security issue is the biggest problem in this .Credit card information are also hacked sometimes.
Ø Late delivery.
Ø Site crash.
Ever sector have some or other threats to be taken care off, otherwise it will not take time to get decline as soon as it get started. A proper SWOT analysis will always lead to be helpful.e.g.- a very famous company ADITYA BIRLA GROUP shuts down its online fashion retail unit due to their wrong assumptions.
The real smell of opportunity in ecommerce
Artificial Intelligence is becoming a boon for e commerce, the reason is that it is able to provide such information which are impossible to be generated by Human beings. It is able to access a big data which is made by our search history and according to which we are provided information in our advertisements. This attracts the attention of buyers to look on the product which they want and we also purchase them.
This AI in future is going to be more supportive in e commerce as in consumer support and supply chain management also.
Many avenues are their available who invest in these startups if the idea and business plan are attractive as well as feasible like-angel investors, financial institutions, banks, incubators, venture capital, etc. Nowadays, government is also promoting entrepreneurs and startups for moving ahead .This ecommerce is a biggest boon for them who want to do business and excel ahead. People who were not in online mode i.e. using traditional method of marketing they are also coming slowly in this sector. Every person have at least one phone in their hand and it just need a single click to avail this service that is attracting all. So, it is a great option to start an e commerce business to be successful. Because people are getting more busy in their work and need comfortable way to live.
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