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Future trends in electronic commerce - Essay Example

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At the beginning of the 21st century, Electronic Commerce becomes one of the main tools which help companies to reach global markets and attract global consumers. It is expected that the future of marketing and retailing will depend upon the Internet and E-commerce…
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Future trends in electronic commerce
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Download file to see previous pages The Internet revolution causes with the latest growth figure among the some 160 million users, while others, remind marketers that this constitutes only a tiny minority of a few per cents of the world population. Expanding from this point, impact will be sought in the evolution of the applications used. Thus a sector where the number of firms which use a combination of Internet, intranet, extranet and telework is 'important' will thus display a higher impact of the Internet (Wagner 2007). Moving further ahead, one will consider which functions or activities the Internet is used for and thus see a greater impact of the Internet when home, social and productive functions are carried out through the Internet (Regan, 2007).
In a year, there will be changes in the resources, behavior, organization, achievements and skills in different sectors. More and more companies will use e-commerce as the main tool of marketing communication and interaction. On the other hand, and more importantly, it appears that the use of e-commerce tools and techniques, or of information in general, is not likely to have any effect unless the appropriate combination of attributes and external factors exist. In a year, companies will use e-mobile service and mobile retailing more often. ...
The further back in this chain companies and customers can go, the earlier they will be able to have an impact on sales. "Catalogs and stores can greatly buoy the online company to weather the storms that are inherent in technology and technology-based marketing, as a simple change in the technology environment can decimate the business model of an online company based solely on online marketing" ("Why one web merchant", 2006).
In five years, there will be a great shift in customer service and information delivery systems. Critics state that "Online commerce market to grow to $300 billion over the next four years. But NOW is when consumers are forming their online shopping habits and developing buying loyalties" ("Understanding the Consumers", 2007). This is true of any new product or service, but, so far as the Internet is concerned, such fears are compounded because consumers will be purchasing goods via a system that they do not fully understand. In fact, consumers are already worried about the security aspects of the Internet. The first and most important lesson that has to be learnt when considering trading on the Internet is that sales that depend on geography will no longer work. Supermarkets, for example, with their departments that examine in great detail the demographics of an area before a new store site is developed, have no advantage in cyberspace. Any site can be accessed from anywhere in the world (Regan, 2007). Equally, any site can also be ignored from anywhere in the world. There is, however, an even bigger issue with marketing on the Internet. Not only is it difficult to select and purchase a prime site, in a good demographic area away from your competitors, that virtually guarantees you sales, but it is also increasingly difficult to ...Download file to see next pagesRead More
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