The E-Commerce Opportunity Essay - 633 Words

The E-Commerce Opportunity A secure e-commerce Web site can provide businesses with powerful competitive advantages, including increased online retail sales as well as streamlined application processes for products such as insurance, mortgages, or credit cards. E-commerce credit card sales can be especially lucrative: according to independent analysts, cash transactions on the Internet will reach $9 billion in 2000, and $30 billion in 2005. By offering products and services on the Web, businesses can gain unique benefits:  · New customers: Anyone with an Internet connection is a potential customer: millions around the world are already using the Internet for business transactions. Web storefronts are open 24 hours a day, and†¦show more content†¦The Web facilitates one-to-one marketing by enabling businesses to capture information about demographics, personal buying habits, and preferences. By analyzing this information, enterprises can target merchandise and promotions for maximum impact, tailor Web pages to specific consumers, and conduct effective, tightly focused marketing campaigns. No business can afford to ignore this opportunity. But businesses also can’t ignore the potential pitfalls. Before entering the fiercely competitive e-commerce arena, businesses must carefully assess and address the accompanying risks. A. The Risks and Challenges of E-Commerce Trust To succeed in the fiercely competitive e-commerce marketplace, businesses must become fully aware of Internet security threats, take advantage of the technology that overcomes them, and win customers’ trust. Eighty-five percent of Web users surveyed reported that a lack of security made them uncomfortable sending credit card numbers over the Internet. The merchants who can win the confidence of these customers will gain their loyalty—and an enormous opportunity for expanding market share. In person-to-person transactions, security is based on physical cues. Consumers accept the risks of using credit cards in places likeShow MoreRelatedE Commerce : An Opportunity For Fashion Retailers795 Words   |  4 PagesBRAND BUILDING Talking Commerce and Growth with Katie Rose of The Bridge Co. FUTURE COMMERCE Commercialising Fashion in the Digital Age E-COMMERCE / RETAIL Mobile Commerce: What Fashion Retailers Need to Know FUTURE COMMERCE Sustainability: A Dirty Word for a Clean Cause FUTURE COMMERCE On Production, Provenance and Supply Chain Ethics FUTURE COMMERCE Future Luxury: Recalibrating Luxury for the Digital Economy E-COMMERCE / RETAIL In-Store Mobile Technology: An Opportunity for Fashion Retailers AheadRead MoreMarket Opportunities in E-Commerce, South Africa11786 Words   |  48 Pagesdisadvantages of online retailing as opposed to traditional retailing. 1.3 Literature study This study is encompassed around the E-commerce sector in the business field. 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