Are you excited to start making some money online and start living in your beach house for the rest of you life? It sounds simple enough right, you have a commerce business make it happen with steady income and you retire at the age of 25, but wait just one second it’s just not as simple as that. Before I get into the what E-Commerce one has to understand what the heck commerce is in the first place here is the quick break down of what commerce really means.
“is the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural, and technological systems that are in operation in any country. Thus, commerce is a system or an environment that affects the business prospects of an economy or a nation-state. We can also define it as a second component of business which includes all activities, functions and institutions involved in transferring goods from producers to consumer.” (Wiki)
OK having a clearer definition of what commerce is, I can fully explain to you how you wont be retiring at the age of 25, many people have the belief that once you have your business up and running providing goods and services to customers that your job is done and the system will take care of its self and start generating you some revenue right? Well that’s what most people think. But I am about to disprove this is like saying once you have a baby that baby will take care of it’s self once it becomes a kid? While logically it does make perfect sense that this could work and in some cases it does, it’s the complete opposite that kid or baby has needs that needs to be met, because they are constantly changing and having new issues every day. This can also be said about your business also how do you expect it to grow up on its own? YOU DON’T! plain and simple if you want to expand and grow guess what you going to have to grow and expand your self as well whether if it’s by taking training or hiring people with expertise in certain subjects. Let’s say some how you manage to pull your self together and create a successful business and you are ready to build a new shiny new E- Commerce store that will offer you all sorts of new opportunity.
Getting eager to start that E- Commerce business and start to make some residue income. Well wait just one second you understand Commerce but not E- Commerce, is their a difference any way? Well glad you asked there is a major difference here is the definition of E-Commerce.
“Electronic commerce, commonly known as e-commerce, is the buying and selling of product or service over electronic systems such as the Internet and other computer networks. Electronic commerce draws on such technologies as electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction’s life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices and telephones as well.” (Wiki)
Ok, understand what E-Commerce is, you must be scratching your head thinking what the heck is the world wide web, well web just means that it allows you to sell your products and services via online. meaning you no longer need to have a store or meet with people in person all your transactions can be done and handled over the internet. So in short you business is about to enter a completely new type of market, something that is completely new and you need to know who are the major players, in order to understand how successful your business gets done in this new platform.
So who the heck are this big players in E-Commerce? Glad you asked having this information will be invaluable for your new upcoming E-Commerce business well here are some the big players.
- Groupon
- Netflix
- Youku.com
- Mercadolibre Inc.
If you have used the web before some of this names may sound familiar and they have every right to do so because as I was mentioning this are are the big players in E-commerce and they are not going to be going away anytime soon. Let’s put this giants to a test of our definition and see if they hold up to the true meaning of E-Commerce. Lets start with Groupon is a provider of discount deals from local retailers, that’s not a product is it? Good questions they are providing a service to there costumers which is to give them coupons with discounts to local retailers so they do meet that requirement and they are a giant in that type of work they do. Moving on to Netflix is a provider of subscription based Internet services for watching online movies and TV shows in the U.S. and internationally via Netflix.com, and for subscribers in the U.S. it also has a service to deliver DVDs and Blu-ray discs to their homes. Well this is one simple enough they meet both commerce and E-commerce sides of business. The next one is YOKU, China’s largest video-streaming company, is more popularly known as the YouTube of China. But in reality, it is more a combination of Netflix and YouTube; Netflix, because it offers mostly professionally-generated content licensed from movie studios and TV companies, and YouTube due to its reliance on advertising as a main source of revenue making it the service they offer to their viewers, although they might not be getting charged they are still offering a service and having viewers means costumers which the turns into money and finally wrapping it up it’s with Mercadolibre, this is one is one you might not of heard of but here is a quick review of who they are a marketplace services provider in Latin America which included but not limited to Amazon.com Inc, Priceline.com, Express Scripts Inc, Expedia Inc, Liberty Interactive Corp, E-commerce China Dangdang and many more. (seekingalpha)
All of the examples that I provided are perfect to talk about when you are in the mood for talking about profitable examples of E-Commerce that are making lots of money in the bank and if some how you manage to climb the ranks and be considered a big player then maybe you can have a 3 day weekend but not quite retire at the age of 25. knowing the good examples you must be feeling worm and fuzzy in the insides with hopes and dreams for your brand new E-Commerce business well lets just simply but the whole thing together with talking about E-Commerce that are losing money every second that they are online. Finding actual data that business that are loosing money, is quite a task because honestly no one wants to admit that they are falling so that data gets hidden from mostly any one that goes out there search for it. So instead I am going to be telling you about the things that you don’t want to be doing on your site here is a quick list of things to avoid.( slideshare)
- Illegible text
- To much graphics
- Bad design
- Bad navigation
- Flashy graphics
- unfinished pages
- Bad information
- Confusing to place order
Back to your E-Commerce website now that you hold the power of the big players and know what not to do, you must be having the question of what E-commerce means to you right now and in the feature. Well the future of E-commerce is a mobile one “a recent study from Internet Retailer projects a doubling of mobile commerce sales in 2013”(forbes)
This is great new for you because now you not only have to cover a great retail site on the web but also one that allows your customers to start shopping on there mobile devices like phones, and tablets. Now that you know what the feature hold go out there and build your self a successful E-Commerce site and start making some money, because remember the web is a untamed type of new form for selling your new services and goods so the skies the limit, which could be the whole reason why you never retire at the age of 25 because like most of us you want to see your kids grow in meaning your business.
Source
http://en.wikipedia.org/wiki/Commerce (Wiki)
http://en.wikipedia.org/wiki/E_commerce (Wiki)
http://seekingalpha.com/article/474261-top-e-commerce-picks-of-the-world-s-largest-money-managers (seekingalpha)
http://www.slideshare.net/dear123000/good-bad-e-commerce-websites-2969089#btnNext (slideshare)
I always had a passion for the field of STEM (Science, Technology, Engineering, and Math) and I knew I wanted to do something to make a difference in the world. I just didn’t know where to start. I was an immigrant in a new country, grew up in a tough environment, and wasn’t sure how… Read More
