my
experience on e-commerce is not a good one. mostly regarding to online shopping
activities, most of time I preferred to use this online shopping to buy sports
items and jerseys, which is not available in domestic Sri Lankan market such as
the soccer jerseys of Chelsea football club, Byran Munich football club
jerseys, spring box (South Africa) national rugby team jerseys, mostly visited
website to buy those items are daraz.lk previous kaymu.lk but in there
interface those sporty item looks more colourful and attractive, but advertised
in there that these items are high quality ones and but offer no guarantee
after the sale. Two or three times I used to buy from them and prices was mostly
reasonable was offered option to pay
from credit card and also offered the delivery to the home with additional
charge.
but
there was not enough details available about the product and there was not any
after sales services, or guarantees about the product so the assessing their
marketing strategy there is not substantial effort to reduce perceived risk
level of the customers so the initially customer has to take high risk when
purchasing from them.
So,
I accepted risk and purchased from them. Since I live for away from Colombo.
regarding that their delivery efficiency was high but the packing was awful and
there was not only due care about the product. Product was not that mush colourful
and durable than they advertised in their site since there was no way to return
product once customer unsatisfied. That purchase was a loss from my prospective
and I had to bear that in two or three occasions.
As
an investor in Colombo stock exchange, I used to do my most of trading
activities via online trading flat form. My first CDS account with the TKS
securities put LTD and the early they had a system which was very attractive and
very mush user friendly one to do the transaction and was a most efficient
trading flat form to use because it has the all the technical tools to analyze
the trends on share trading especially.
-
It
was very much descriptive and all account details such as the current portfolio value, the cost
basis value, the cash amount on account, Total port folio balance, margin
balance on the account was on the interface and in one click you was able to
get the details summary of all the share and cost and their relative gain and
adjusted balance in one interface.
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Due to the cost cutting policies which TKS (Pvt.) Ltd. adapted
they introduce new trading flat form and the initial logging password to that
flat form was very lengthy one and it took little bit more time to log on to
system.
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Once log on to system the limited data was available on the
interface and he had to separately open few more drop boxes to get other
details unlike earlier interface. shifting among those drop boxes was tough and
some important details was not update especially margin balance. So we had to
take a phone call to investment adviser and he has to check with finance division
with the remain balance, so the online trading become a mess and I had to close
down the account and shifted to company which have maintain prevailing
interface.
Made.com
This
was United Kingdom furniture seller and put product and saving front and center
in clean in visually stunning interface.
What works?
-
The products are featured in visually over powering way. The item
was too big and it feels like you can though it. Compare to other. Furniture
seller products feel more alive and vibrant.
Really get a better sense for what you are buying.
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Product Specifics, including delivery information and dimension
are all presented in friendly and intuitive format.
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The clean checkout, including guest option, makes completing
transaction painless.
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Recommendation from made.com staff reinforce the appeal of the
product and help given on added opinion for shopperson the fence.
amazone.com
This
has the industry leading abandonment rate is said to be around 65%.
What works ?
-
Most get top billing, the
price, your savings, custom rating its availability and its price in multiple
formats give the shopper the most information right off bat.
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Free shipping tied with
purchase urgency creates a compelling reason to buy now. knowing that the book
will be at your door step by soon solves for the instant gratification problem
that pulgs on line shopping.
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The buy button are set to the right on a different colour
background than anything else on the page, also the biggest element on the
page.
Group on
Their
checkout is a study in simplicity, social proof and instant gratification.
What works ?
a
house discount and group on hummers home just how much you will save buying
now. Most of discount are 50% and creating compelling reason to buy.
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The clock is literately ticking on a every group on deal. The
limited time frame creates a buy it or lose it impulse that makes a buying it
now safer than waiting and possibly missing out.
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Social proof, It is their name, group on shows you how many people
are buying the deal, validating your buying stinct and giving you the
confidence that others think it is a deal too.
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The checkout page is simple, clean from, making it easy to get
through and complete transaction.
Threadless.com
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A clean visual search page make it easy to see designs and quickly
brows through hundred of shirts design the filters are intuitive (size, style,
price) make a narrowing down available choices.
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The Product pages are on education in less is more with big images
and easy sizing options and giant “add to court” but that dominates pose.
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Social proof in the form of facebook likes, Tweets, Google+ are
shown on item’s popularity, reinforcing your purchase decision.
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Lack of Personal Touch
Will miss the touch and relationship that develop with retail
store
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Inability to experience product before purchase
They are many product consumers want to touch, feel, hear and
taste, smell before they buy. E- commerce takes away the luxury of that.
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Need for an internet Access Device
E-commerce can only be transacted with help of an internet access
device such as computer or smart phone.
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Need for an internet connectively
Not just does one need an access device, one also needs internet
connectively to participate in e-commerce
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Credit card fraud
Consumers and business alike suffer from credit card fraud. Some
doomsayers go so far as predict that fraud will lead to the demise of online
business.
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Security issues
Consumers can run the risk of identify fraud and other hazards as
their personal details are captured by e-commerce business.
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Delay in receiving goods
If shopping is about instant gratification, then customers are
left employ handed for sometime after making a purchase in e-commerce
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Inability identify scams
Consumers are often taken in by fly-by-night e-commerce web site
that look good but are up to no good. Scam artists often accept order and then
disappear.
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Extra ordinary high reliance on website.
For a e-commerce business, its web site is everything even a few minute
of down time can lead to a substantial loss of money.
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Multiplicity of regulation and taxation
Regulators are still not clear about tax implication of e-commerce
transactions. This is especially true when seller and buyer are located in two
different countries. This can be lead to multiplicity of taxation as well as
higher expenses on accounting and compliance.
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Charge backs
Credit card issues are quite liberal in permitting charge backs
upon customer request. This put e-commerce business in a bad position if the
goods have already been delivered.
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Need for expanded Reserve logistic
In case at physical retail, customer are usually willing to travel
to the retail outlet to return or replace if required. But receiving goods back
is bigger night more on e-commerce business. This has led to the growth of the
reverse logistic functions.
No standing queues or being placed on hold forever.
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Easier to compare prices
There several shopping search engine and comparison shopping
website that help customers to locate the best price.
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No need for a physical store
Since there is no need for a physical store e-commerce bussiness
save on one of biggest cost overhead that retailers have to bear.
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Common availability of coupons and deals
Through there is nothing about e-commerce that makes intractably
oriented to discounts the way online business has led to lowered prices on
line. this is an advantage for the buyer.
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Lot of choices
Since there are no shelf size or store size limitations e-commerce
business are able to list any different items.
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Stores are open all the time
Eliminating the limitation of store timing is a bigger convenience
for customers.
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Ability to buy and sell to other consumers
Action sites and listing sites allow individual to buy and sell for
each other this operas whole new paradigm of e-commerce.
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Ability to have vendors bid for your business
Online business has opened new vistas for consumers. It is now
possible to list your requirement online and have supplier bid for your
business.
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Not about location
Conventional wisdom lay a log of emphasis the location of physical
store but e-commerce has liberated business from shackles of location.
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Ability to scale up rapidly
E-commerce business are able to scale up easier than any physical
retailers as they are not bond by physical limitations of self space. With the
choice of right third party logistic provider one can scale up one’s logistic
too.
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Unlimited self space
Being liberated from physical store also entails being liberated
from the limitation of self space. This allows e-commerce business to “stock”
wide range of products.
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Ease of communication
Since the e-commerce merchant captures contact information in the
form of e-mail sending out automated and customized e-mail is quite easy.
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Superior customization
Using cookies and other methods of monitoring a consumer’s behavior,
on e-commerce website can customize
may aspect of what customer sees.
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Efficient procument
Because entire supplicant can be linked with business to business
e-commerce system, procument became faster ,transparent ,cheaper.
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Superior inventory management
If e-commerce business can tune in to order processing system of
their suppliers, they can maintain lower inventors and still not face stock out
situations.
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Reduce employers cost
Since e-commerce process automated to large extend fewer employ
are required for lower end jobs. Human
resources can be used more effectively for high level functions.
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Ability to track logistics
Since effective logistics is the key to successful e-commerce
business, the ability to trigger
and monitor logistic
online is available
tool for the e-commerce business.
