E-Trade(Commerce)
By: Basel Risha
E-Trade
• Electronic Trade is exchange of business information using electronic data interchange (EDI), e-mail, electronic billboards, fax, and electronic money transfers.
• Internet shopping, online stock and bond, the downloading and selling of “soft goods” (software, documents, graphics, music, etc.), and business-to-business transactions.
• e-commerce is all about using the Internet to do business better and faster.
Consum
ers Business
es
E-Trade
Pros For Consumers• Price
• Quick and easy
• In depth product overviews
• *Consumer reviews (Less biased opinions)
• Find products online that you can't find at a local, real world store
• Doors are always open to customers, 24 hours a day, 7 days a week
• (store employees)
Cons For Consumer• Unable to test products personally
• New way for cyber-criminals to steal personal, financial info, and even your identity
• Product Overload
• *Don’t always know what your getting
• Shipping delay (purchases and returns)
• Slower product verification and problem resolution
• Loss of emotional fulfillment
Pros For Businesses• Increased market share (Global)
• Provide for niche markets
• Operation costs
• Increased productivity
• Survey of customers
• Less likely to make returns
Cons For Businesses
• Elimination of face to face interaction
• Competition (prices down=profit margin down)
• 24/7 (updating, responding, etc.)
E-Shopping Tips
• Personal recommendations- Friends or Co-workers who have online shopping experiences to share
• Use consumer reviews and internet to get informed
• Bizrate.com, amazon.com, etc.
Question
• Total e-commerce sales for 2007 were estimated at $136.4 billion, an increase of 19.0 percent (±2.8%) from 2006.
• While, Total retail sales in 2007 increased only 4.0 percent (±0.3%) from 2006.
- What do you feel is causing consumers to turn to the Internet?
Question
- Have you ever contacted an online customer service representative regarding a product you have purchased? How come? If so, how did you and what was your experience like?
Question
• How do you determine where you purchase an item from online?
- (best price, security, recommendations, site design, brand, etc. ?)