E-Commerce: Immense Impact on Businesses Worldwide
The e-commerce front has almost transformed the way of doing business. The major element of e-commerce revolves around B2B and B2C concepts. While the former concerns the methodology of doing business with other business institutions, B2C involves the way of trading directly with end-users.
E-commerce has influenced business organizations in a profound manner in both beneficial as well as disadvantageous ways. The methodology has allowed enterprises to connect to a larger community of consumers and at a very low expense. Displaying products on a website is comparatively cheaper than setting up a physical store. Selling one’s own products on one’s own website also incurs less charges rather than selling them at a store.
On the contrary, it is becoming a challenge for bigger organizations to retain their customer base, as more customers are turning to products that are cheap but of higher quality. Large enterprises are somewhat outsmarted by the startups which are based on the e-commerce model. Small businesses are entering the industry, which was once dominated by the bigger companies. To retain their customers and stay relevant to the market, big companies are now adopting technological advancements. To make sure that they are always on the profitable side of business, large organizations are trying to hire technology savvy experts. In addition, they are on the verge of transforming their infrastructure radically and train their existing employees. Nevertheless, this change requires a considerable period of time from a practical viewpoint. Therefore, there is a huge gap between the need and availability of talents in the market.