*Answer:
3.2.1 E-commerce: E-commerce is known as Electronic Commerce
where products are bought and sold on online services or over the
internet. E-commerce is an elctronic industry where buyers/sellers
participate for selling/purchasing goods/services in excchange of
money which can be transfered through online services.
These days e-commerce is a boom in the market, people rather
wasting their time on stores/malls prefer to order products online.
The e-commerce industry is growing with a fast pace by offering
wide range of products in discounted prices and delivery of those
product to customers address. Customers can now order each and
every product by just one order sitting at their home.
Examples of e-commerce: Amazon, ebay, flipkart, OLX etc.
3.2.2 Benefits from e-commerce:
- Better customer service: E-commerce infers giving better and
speedier help to the customers. Amazing on the web organizations
makes the customers cheerful. they outfit customers with their own
special record where they can pick the organizations as indicated
by their choice which helps by saving time and money. It also
provide home delivery system to customers.
- Higher margins: E-commerce implies keeping up a higher edge in
the business. With comparable pricing the business of
e-commerce can make more profits.
- Economy- E-commerce business can be seen as an particularly
traditionalist style of cooperating where physical limit or manual
trade isn't required. It might be simply gotten done with the help
of electronic interface and unique inventive thing offered to the
customer with keeping up the reasonable spending plan of the thing
as indicated by the cultural need.
- Lower cost: Doing e-commerce is a clever systems, which
diminishes the vital issues and making an open entryway for the
free organization on a standard to battle with mammoths like
amazon, flipkart etc.
- Team work: In e-cmmerce, electronic mailing process is a
champion among the best and amazing point of reference where
everybody can team up among each other by sharing various
information and answer for the issues inside the working
environment. It similarly makes an ordinary stage where suppliers,
traders, partners, and customers get related to each other for
sharing insights, information and characteristics for the future
better result.
3.2.3 Case Study from Oman
Trends and problems of E-commerce in Sultanate of Oman
Introduction: E-commerce is simply known as through buying
furthermore, selling of thing and organizations for the
associations furthermore, by the customers over the internet.
Online arrangement is rapidly growing through which buyers are
abusing low value thing offered by the merchant or the maker in the
online mode. Today present e-commerce is the spine in GCC countries
and it has transformed into a bit of Gulf open action.Oman is
required to have fullscale bit of the general business of 12% over
the GCC countries. As demonstrated by Internet World Stats, there
were more than 3.3 million internet customers in Oman as of
December 201, which contained pretty much 70% of the people.
OMANI prospects in e-commerce:
Lets see how Oman customers see e-commerce
- Service for merchant: wholesalers may acknowledge the open
entryway of E-exchange which is prepared for developing the
framework with assumed producers and associating the business with
the internet. The web business lessens the cost of whole business
getting ready.
- Service for individuals:Customers can puchase with their
choice, requirement and need of product/service. They can benefit
different orgaizations like railroad booking, lodging booking, e
booking and so on which have gigantic open entryways for the
customers.
- Service for makers: By this the makers can give practical and
complete information about the product to the customers. They can
accomplish their product genuinely to the retailers and also to the
purchasers.
- Service for retailers: A retailer can save decevaibility by
interfacing their business with the online movement. They can
promote and advance their brands in through e-commerce.
3.2.4 Challenges/Risks
The E-commerce industry is facing different challegens in Oman
which can be discussed below:
- Issues of security: Fear of making online payments or
transactions revolves around the mind of Oman customers. 60% of
customers don't accpet web as a portion channel. They have security
issues with the portals and are not ready to install channels.
- Problem of cash on delivery: E-commerce businesses are offering
COD as one method Of payments for purchasers. Many customers denied
to make payment duirng the time of delivery of an item. COD was
focused to counter the online payment security issues of
customers.
- Customer acquistion forces: Effective online collabration
between business areas should be strong. Making customers come
online, install the applications and make payment online on
purchase has been emerged as an key issue.
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