E-commerce is the fastest growing segment of business today. The Internet has opened the portal wide for all entrepreneurs, from small, single operators operating a Web site enterprise, to larger small business owners employing several hundred people to conduct business over the Internet.
E-commerce combines many of the basic components of traditional retail sales with the high tech abilities of Internet trading. Where a customer at the local mall might walk around a store and pick out numerous items to purchase, then carry them to the cash register, on a retail Web site, a customer browses through the Web site and clicks on buttons to add products to a virtual shopping cart. Once he has finished shopping, he can visit the shopping cart, make a final decision as to whether to purchase the items chosen, then electronically provide shipping and payment information.
While this process may sound simple, it takes a skilled individual to set up a shopping cart and to provide the customer with a secure means of processing credit card information. Not only must the technology be secure, easy to use, and reliable, it must properly interface with a merchant account, and each merchant account is likely to have different technical specifications.
Another consideration is finding unique and low-priced items to sell online. Because the Internet allows easy comparison-shopping, customers demand low prices online. Merchants always seek inexpensive wholesale goods to maximize profits, but with the fierce competition found online, price becomes an important selling point.
Let LoveToKnow Business Play a Part
Let LoveToKnow Business provide you with the information you need to make an educated decision about whether e-commerce is right for you. LoveToKnow Business can also point you in the right direction toward finding the resources you need to set up a successful online retail operation.