What’s the Ecommerce?Ecommerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Ecommerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry.1.Advantages and disvantages of Ecommerce
MINISTRY OF FINANCE UNIVERSITY OF FINANCE – MARKETING ENGLISH IN INTERNATIONAL BUSINESS TOPIC E–COMMERCE LETURER: Ms.Le Xuan Quynh Anh Perfomance: Group E-COMMERCE What’s the E-commerce? E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry Advantages and disvantages of E-commerce 1.1 Advantages of E-commerce Buying/selling 24/7 Customers can easily select products Easy to start and manage a business Faster buying/ selling procedure Easy to find products ADVANTAGES OF ECOMMERCE There is no theoretical geographic limitations More reach to customers Low operational costs and better quality of services Faster buying/selling procedure, as well as easy to find products Buying/selling 24/7 More reach to customers, there is no theoretical geographic limitations Low operational costs and better quality of services No need of physical company set-ups Easy to start and manage a business Customers can easily select products from different providers without moving around physically Trust of customer Technology Disadvantage Payments Competitors 1.2 Disadvantages of E-commerce - Trust of customer o It’s very difficult to gain customer’s trust in e-commerce Because, customer can not see or touch product directly So they are often afraid of product’s quality and - - price Technologies o If you are not technology savvy, you may encounter some of the problems : When you want to adjust the banner or online store interface but you don’t know the graphic or website design Your website is attacked by viruses, hacker….is unavoidable Competitor o Because the cost, which to start an e-commerce is so small, this market begins to become saturated It’s so many companies, join in the e-commerce market o Therefor, you need have your own strategy and solutions Other wise it will not be - possible to create a breakthrough to attract customers on your side Payment o Online business in our country is payment on delivery or COD, meaning that customer can suddenly change their mind is the last minute Problems have you had buying on the internet 2.1 Product Quality This is the most common problem faced by customers who shop online regularly The quality of the product is often not up to the mark with what is presented in the pictures Reviews are not always reliable and all the research can't assure you of a product's quality; fraudulent sellers who intentionally mislead customers to increase sales are the prime reason for faulty/sub-par products being sold online With the volume of goods e-commerce companies handle these days, it can be quite difficult for them to conduct quality checks on each and every one of the products they're selling Additionally, the issue of getting the correct size remains a serious drawback for buying clothing and footwear online Sizes vary from brand to brand, and since you can't try out the products before buying them 2.2 Delivery Wrong delivery or missing goods the buyer has ordered Delivery is damaged but not recovered Delivery is slower than expected Shipper are not friendly 2.3 Delivery Time The delivery time is not clearly stated in the order process Consumers not know when the product will be delivered Consumers buy a product and the E-Commerce businesses not even state the time of delivery Many a times, these orders take more time than expected to be delivered It’s important for buyers to have realistic expectations and know when they can expect their orders It is important for people to know when their product is arriving so that they can plan their day accordingly Customers often complain that the delivery boys not even call them before arriving to deliver the product 2.4 Payment This is another common problem A lot of times, consumers not know how to make the payment if the debit cards they use are not available as an option More so, customers are often stuck with the payment options when Cash On Delivery is not available They not have many payment methods that they can trust 2.5 A problem of data security Security issues can lead to nightmare scenarios Fraudsters post spam and attack the web host server, infecting the websites with viruses They can potentially gain access to confidential data about your customer’s phone numbers, card details, etc 2.6 Solution Look carefully at the feedback of people who buy at that shop Selecting reputable shopping websites of consumers Select the payment method after looking carefully Talk to seller the day when you can pick up the goods so that the can notify the deliverer Online shopping has become popular and become the hoppy many people Besides the advantages it brings, there are many issues to consider so become a smart buyer How to be successful in E-commerce? Don’t rush the launch One of the biggest mistakes unsuccessful ecommerce entrepreneurs make is forcing or rushing the launch of a website You only get one shot at launching your website and you can’t mess this up While it’s okay to purchase your domain name and throw up some sort of “Coming Soon” page, you should avoid the big reveal until you’ve laid some substantial ground work (SEO, content marketing, social media, paid advertising, etc.) Find the right software for your business For many ecommerce business owners, software is foundational to the entire operation Your ecommerce software should be scalable secure, user-friendly and have a solid set of conversion and marketing tools The right tool depends largely on what needs you have Make sure to identify your challenges and your research to find the tool that matches your requirements Optimize all Product Listings As for the site itself, optimization should be a priority at all levels When it comes to individual product listings, focus on creating unique and keyword-rich descriptions, optimizing product images, and using unique, descriptive sales copy Put the focus on the user It’s no secret that the biggest shortcoming of ecommerce businesses is let their customers touch, feel, smell, and see firsthand products before making a decision While there’s currently no solution for solving this problem, you can compensate for this deficiency in other areas of the business Some of the best tips include offering appropriate pricing, giving free shipping and making the checkout process easy with simplified shopping carts Work closely with social Social media is the heartbeat of your business, as it gives you an uninterrupted glance into the lives of your customers According to Shopify, E-Commerce orders spawned social networking sites increased by an incredible 202 percent A large part of this is the fact that people value the opinions of their peers and are automatically more interested in something if a friend references or shares a link In order to use this to your advantage, try to invest heavily in social media, both by incorporating elements into product listings and setting up a heavy social media presence on such sites as Facebook, Twitter or Instagram,… Incorporate social elements It’s a great idea to include social elements on your ecommerce sites, things like product reviews and testimonials By collecting and sharing testimonials and reviews on a regular basis, you can encourage more sales from your website visitors In addition to integrating multiple login methods from multiple social networking accounts will also help customers feel more convenient and comfortable in reviewing and purchasing 7 Stay on top of SEO As the ecommerce economy experiences rapid growth, more and more businesses will be entering this increasingly crowded space That means it will be more important than ever to stay on top of SEO in order to stand out from the competition Connecting with a skilled SEO will help you stay competitive in the long run *SEO (Search engine optimization) is the process of growing the quality and quantity of website traffic by increasing the visibility of a website or a web page to users of a web search engine Build Strategic Partnerships It’s rare that an E-Commerce website becomes successful on its own No matter what your experience or skill level may be, you can probably benefit from forming strategic partnerships and aligning your new brand with firms that have already established sturdy brand equity and influence Collect information and Continue developing It is important that you collect customer information and build a database to support the launch of new features in the future to diversify your e-commerce Finally, never stop developing Technology, trends and customer tastes will change, and so must you if you want to succeed in such a variable market ... advertising, etc.) Find the right software for your business For many ecommerce business owners, software is foundational to the entire operation Your ecommerce software should be scalable secure,... biggest shortcoming of ecommerce businesses is let their customers touch, feel, smell, and see firsthand products before making a decision While there’s currently no solution for solving this problem,... than expected to be delivered It’s important for buyers to have realistic expectations and know when they can expect their orders It is important for people to know when their product is arriving