E-Commerce — Barrels of Money or Pin Money

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Ever since world has seen this overnight shift in global market, business men are seen scratching their heads in confusion. Perhaps things such as should I go for E-commerce, should I stick to traditional conventions of the business, does e-commerce have enough potential to provide me with handsome amount of money and etc, might be baffling you too for long. But E-commerce development need some pre-requisites to be known first.

First and foremost, you must differentiate between E-business and E-commerce. E-business means to conduct all business operations including production, marketing, selling, account, finance and HRM etc through information technology. On the other hand, e-commerce mainly throttles to the process of conducting financial transactions online.

Having said, one big reason and perhaps the only big reason for joining E-commerce is connecting, persuading, delivering and knowing customers. There is no any other platform in the world that offers such astoundingly large number of potential customers at the same place and all the year round. And each day this number of customers is increasing exponentially.

Following figures which are last updated by the end of 2011 hit the point home. There are 2.1 billion internet users worldwide. Among those users, 75% users have power to purchase any product. Depending on your price, promotion and position of your service or product, you can target them and liquefy your prospects.

Number of mobile subscribers in the world is 6 billion. 85% of the handsets shipped worldwide included web browser. Almost 80% of the users used their mobile devices for activities related to shopping. And 75% customers have made a purchase based on the information that they received on the internet.

There are 2.6 billion worldwide social networking accounts. Facebook has more than 800 million accounts where as number of active users on Tweet is 100 million. European e-commerce is already growing in waves as it was projected in 2007 that with an annual 25% growth rate, market reached $ 407 billion in last year.

Though there are thousands of other substantial directives that make assure the sparkling future in e-commerce.  So, responding to the call of modern globalized market is in your best interest and you can have better chances to do your business. Barrels of money. Yes, I mean it!

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