The rapid growth in the electronic commerce over the Internet has fueled predictions and speculations about what makes a business-to-consumer (B2C) web site effective.
While you may need to make an initial investment of resources, this kind of electronic business (or “e-business”) can improve your efficiency in the long run by saving you time and streamlining the process. It can also open up new opportunities for collaboration and the exchange of data, all of which can ultimately contribute to an increase in revenue.
To facilitate the process even further, there are portals out there that contain information from many e-commerce sites in one place, saving people a lot of time and money .
In other words, a one stop hub for suppliers that is an online platform allowing businesses to advertise online and deal direct with buyers. And what if it would allow buyers to interact with sellers without being forced to purchase an item first? The client’s due diligence can be vetted through the response rate, pricing and even whether that business is the right for the consumer.
These changes in the industry structure alter the process of carrying out business in certain industries. By incorporating elements such as the ability to shop for electronics, cosmetics, and/or camping gear, online. The person could also deal directly with manufacturers, thus it would l be possible to analyze the data and make an educated decision, versus the arduous process .of going from one website to another. The portal would not be restricted to one type of product, or vendor, it would be have a plethora of consumer categories.
In essence, the portal would decipher from the clutter overload that is often overwhelming on the web and would streamline that paradox known as the ‘abundance of choice.’ The selection would still be wide but narrowed just enough to avoid this dilemma.
The Internet provides many new opportunities for businesses in terms of cost savings, wider markets with no geographical boundaries and a competitive advantage. Businesses may use the Internet as a marketing tool, an information channel or an e-commerce site.
The Internet has major influences on the industry structure in terms of increased competition, reduced barriers to entry and a shift of bargaining power towards consumers.
It can be concluded that when an online business can understand the perceptions of the customer, this can assist the businesses to get a higher percentage of satisfaction for their customer and simultaneously attract and maintain their loyal customers. In an online business, the creation of trust is a primary goal to achieve a greater engagement of e commerce and create a loyalty customer.
This is a win win for suppliers, consumers and vendors.