8 unique features of e commerce. What Are The Eight Unique Features Of ECommerce Technology? 2022-12-19
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E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the internet. In recent years, e-commerce has become an increasingly popular and convenient way for individuals and businesses to conduct transactions. There are several unique features that make e-commerce stand out as a form of commerce.
Convenience: One of the biggest advantages of e-commerce is its convenience. With e-commerce, consumers can shop from the comfort of their own homes or from anywhere with an internet connection. This eliminates the need to physically visit a store and spend time traveling and searching for products. E-commerce also allows consumers to shop at any time of day or night, as online stores are typically open 24/7.
Wide selection of products: E-commerce websites often offer a wide selection of products from various brands and retailers. This means that consumers have access to a much larger selection of products than they would in a physical store. They can easily compare prices and features of different products, and often find better deals online.
Personalization: E-commerce websites often use cookies and other tracking technologies to gather data about a consumer's preferences and browsing history. This allows them to personalize the shopping experience by displaying relevant products and offers. This can make the shopping experience more enjoyable and efficient for the consumer.
Easy price comparisons: E-commerce websites often display prices from multiple retailers, allowing consumers to easily compare prices and find the best deal. Consumers can also use price comparison websites to quickly find the best prices for a particular product.
Secure payment options: E-commerce websites often offer secure payment options such as credit card payments, PayPal, and other online payment systems. These options provide a level of security and convenience for consumers, as they do not need to physically hand over their credit card or cash.
Fast delivery: Many e-commerce websites offer fast delivery options such as same-day or next-day delivery. This allows consumers to receive their products quickly and can be especially useful for last-minute gift purchases or when a consumer needs a product quickly.
Mobile accessibility: Many e-commerce websites are mobile-friendly, allowing consumers to shop on their smartphones or tablets. This makes it easy for consumers to shop while on the go and allows them to easily compare prices and make purchases from anywhere.
Global reach: E-commerce allows businesses to sell their products and services to a global audience. This can be especially beneficial for small businesses that may not have the resources to physically sell their products in other countries.
In conclusion, e-commerce offers a number of unique features that make it an attractive and convenient way to buy and sell goods and services. Its convenience, wide selection of products, personalization, easy price comparisons, secure payment options, fast delivery, mobile accessibility, and global reach make it an appealing option for both consumers and businesses.
What Are The Eight Unique Features Of ECommerce Technology?
These messages can also be customized in various form text, photos videos, music and used to create new and strengthen existing networks. Merchants are also able to understand more about consumer patterns and needs thus enabling market segmentation depending consumer capability to acquire specific services. These services provided online over the internet network. Also, they can design their own product, change colors, styles or anything they want and buy it. It helps save time, reduce operating costs and increase diversity in the market.
What Are Some of the Unique Features of eCommerce Technology?
E-commerce is the worlds reduce cognitive energy required to complete the task. Thus, the technologies we use in eCommerce are also universal and standard for all online businesses. Convenient Payment Options One of key factors that determine the success of eCommerce is payment platform. Statistics show that 60 percent of humans are now online in the world. For example, while shopping online, a person has to be able to view items from different angles, easily dump items into the cart, and submit orders with the assurance that there are people on the other end of the transaction. Ubiquity: E-commerce is ubiquitous meaning that it is available just about everywhere, at all times.
E-commerce technologies have facilitated users to have a choice of what they need to consume Laudon and Laudon, 2016. A Broad Customer Reach One of the unique features of eCommerce technology that we need to know is the global reach. Often, people will purchase from a site that is attractive or provides them with a better experience. With e-commerce technologies reducing collection, processing, storage, and communication costs the currency, timeliness and accuracy of the information are increased. Branding, advertising and marketing play important roles in eCommerce. These standards also enable consumers to be availed suitable products with ease Laudon and Laudon, 2016.
Universal Standards- E-commerce technologies are an unusual feature, is the technical standard of the Internet, so to carry out the technical standard of e-commerce is shared by all countries around the world standard. That way, eCommerce technologies can adapt to each individual's experience. At the same time, one business can sell different products or deliver information to numerous customers. Afterwards, the technology will analyze and advertise to specific customers. Prepare a short memo to the president of the company you have chosen detailing your findings and any suggestions for improvement you may have. The one feature of eCommerce businesses which sets it apart from the physical businesses is its ability to provide personalized services to each customer.
You can think of these as little gifts. Because eCommerce is so widespread, the market can expand beyond its traditional geographic boundaries and operating hours. The television or newspaper outlets, for example, are confined within the local or national borders, with the limited global audience Laudon and Laudon, 2016. In conclusion, knowing the unique features of eCommerce technology is essential to build a successful business. These business transactions occur either as business-to-business B2B , business-to-consumer B2C , consumer-to-consumer or consumer-to-business. And this could potentially be a rich source of customers for online businesses. Businesses must constantly come up with ways to stand out and stay relevant in order to keep up with the fast-paced world of eCommerce.
For example, clothes and shoes are usually directed to encourage customers to go somewhere to buy. These business transactions can be done in four ways: Business to Business B2B , Business to Customer B2C , Customer to Customer C2C , Customer to Business C2B. With the help of the technology and browsing and past purchases history of a customer, businesses can recommend personalized products and offer to an individual. An online store is beneficial because it has no limits in space, and can target customers worldwide. Video is better for customers to understand about products and helps businesses increase sales efficiently. When customers post about a specific brand's product on social media, they broadcast a message about the brand and the product to a large network, causing a domino effect.
8 UNIQUE FEATURES OF E COMMERCE E Commerce has eight unique features that give
What do you provide that differs from your competitors and appeals to your target market? Good shopping experience creates repeat customers. At the same time, accuracy and timeliness of the information technology increase greatly, information is more useful, more important than ever. These standards are shared by all computers linked to the internet despite the level of technology used. Instead of opening a traditional brick and mortar store, many people start a business as an online store because of its undenied advantages. .
A Great Wealth of Information One of eight unique features of eCommerce technology is that it provides a large amount of information. Moreover, consumers can search for products and buy anything from anybody online. Unique features of e-commerce technology include ubiquity, global reach, universal technology standards, richness, interactivity, information density, capabilities for personalization and customization, and social technology. This is a novel solution that makes content authentic, trustworthy, and easily transmittable. E-commerce has created a market place with significant advantages through eight unique features afforded to e-commerce transactions. But here you need to copy the link to publish it on a social media site. Consumers can easily access an eCommerce business via the Internet.
They monitor your activities while you are logged into your account, and then tailor the ads you see on the right side of your screen to more accurately reflect your interests. In eCommerce, some technologies permit you to market a product, like email marketing, SEO and Google Ads. Information Density The total amount of quality information that can be accessed by all participants in e-commerce is vast compared to the data available from traditional markets. Global reach allows previously unheard of retailers to sell to the other side of the world, while it also connects the bigger sellers with new opportunities as well. A study revealed that most consumers prefer video content to text. This simply refers to the fact that there are now video ads, audio messages, and even interactive text options, on many retail sites.
Also, you may find it difficult to maximize shelf space in your store due to lots of goods that need displaying. Because of the ubiquity, there are no boundaries in time and geography when it comes to eCommerce. They help convey information and messages to the audiences. Interactivity E-commerce is more interactive compared to other traditional technologies except telephone as buyers and sellers can freely interact and communicate. It can be found in forms of sounds, videos, or images on websites. No Boundaries in Time and Space A traditional store can be limited by display space and geographical area. Merchants can change the product or service based on user preferences or previous behavior.
