E-commerce: Ways to Improve Profitability
E-commerce presents immense opportunities for everyone to carry out activities related to domestic trade, international trade, import/export and global sourcing and everyone can try to benefit from the universal platform that this technology has given to mankind as a whole. Of course one might feel lost in the jumble of latest technologies and the foray of terms associated with them. So here are a few simple tips for a layman on the process of using this technology for carrying out either simple domestic exchange of goods or more grand activities related to international trade, global sourcing or import/export.
The first and foremost opportunity to improve profits comes from the fact that costs can be reduced considerably using e-commerce for any sort of business be it international trade, import/export or global sourcing. This reduction of cost can result from various factors such as the reduction resulting from use of lesser staff, non-requirement for having huge offices and buildings and so forth.
Another opportunity is that of improved customer satisfaction due to easier and efficient methods available for payment, direct communication using emails and so forth. For example if a customer wants to import/export or carry out global sourcing of a product or service, they can pay via the e-commerce website using secure payment technologies which keep their personal information safe as well as save time and money for them.
There are several other such opportunities but the key factor behind all of them can be summed up in a single word namely innovation. Innovation is the life-blood of any e-commerce activity be it international trade, import/export or global sourcing and only a individual or company willing to innovate will be able to survive and sustain in the long run in the cyber space.
This innovation is necessary because the same factors which are advantageous for e-commerce, international trade, import/export and global sourcing are also present for other people and competitors as well. Since e-commerce lowers barriers of international trade, anyone can carry out import/export or global sourcing with the right skills and this gives rise to more competition, therefore the need to be innovative literally around the clock. There are several examples of organisations which have been immensely successful in the arena of e-commerce, international trade, import/export and global sourcing by just being innovative. Some examples are that of Amazon, Guru, Elance and E-bay which are huge online marketplaces and are used by millions around the world for purposes which include international trade, import/export and global sourcing activities.
Related Tags: e-commerce, international trade, global sourcing, importexport
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