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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.
Sources
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