With the economy going through hard times, e-commerce is still going strong. E-commerce has already changed the timing, process, and technology of business-to-business and business to consumer market. As you are reading this now, it is still undergoing many changes that strongly influence the economy. An example of the change e-commerce is providing is how business provides the products and services to the customer. The common way for a consumer to get a hold of a company’s product or service is to visit them in their brick and mortar establishment. With e-commerce, the consumer will just need to visit their website and transact with it. In addition, almost everyone can make an e-commerce website since there are many cheap webhosting providers that exist on the internet.
In business to business, e-commerce has provided great convenience for the transacting companies. Sales via e-commerce have vastly inflated since 2003. The percentage it contributes to the wholesale sales in the United States is growing bigger every year with percentage with double digits. Because of these developments, many companies are greatly profiting with this method. Transaction costs were significantly reduced. E-commerce has also improved how businesses manage their supply chain. In addition, it immensely reduced the costs for local and global sourcing. E-commerce is surely having its way on reducing inflation, increasing productivity, and increasing profits.
Retailing using e-commerce is one of the fastest growing trade sectors. In around 1999, it has significantly proven that it has the capability to outpace every other manufacturing and trade sector. At the time, retail sales in e-commerce represented less than 1 percent of the total in the United States. E-commerce retail sales grew for about 1 to 2 percent every 2 to 4 years. From a recent data of e-commerce in 2010, it is now holding 4.4 percent of the total retail sales in the United States. Even with the recent Great Recession back in 2007, e-commerce was slightly unaffected. It continued growing despite the economic downfall.
If you are planning a business and want to try out how effective e-commerce is, you can try to create a website of your own first. In case that you do not know what to do, there are many tutorials swarming all over the internet for you to read and learn. In addition, you could look for a cheap webhosting provider first to set up your future e-commerce website. Many providers today offer customers or future e-commerce entrepreneur some readymade templates that can help them on creating their e-commerce websites.
E-commerce is definitely one of the ideals when it comes to business. The benefits and the rising popularity of this method of business will surely make any new entrepreneur consider making one. In addition, the risk is very low in this kind of business. Comparing it with a brick and mortar establishment, e-commerce websites are easier and cheaper to build. Moreover, it does not take many months of building. You can even hire a third party web developer to build your e-commerce website. However, if you want to do it yourself, make sure that you get the cheapest domain registration available.
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