E-commerce merchants are manufacturers and Service providers that hosted world-wide web site to promote their business beyond their business boundaries. Small, medium and large-scale entrepreneurs may decide to extend their products or services outside their business territory. The financial benefits of reaching out to consumers over the internet for patronage of goods and services is worthy of the effort.
Hosting business on websites gives merchants an edge over their counterparts that solely relied on the Brick and Mortar shops in the locality. Business hosted on the internet is an automated process that is available to customers any day, anytime and anywhere. Consumers connects their PC, laptop or WAP enable hand-held devices to the internet to reach e-commerce merchants web sites.
Unlike in local stores, where patronage is limited to consumers within the locality, online merchants enjoy global consumers patronage. Another advantage to the credit of e-commerce merchants, is customers convenience to purchases online from the comfort of their home, office or while on the move.
E-commerce merchandising have continue to grows, in spite of the threat pose by internet fraud activities. Over the years, e-commerce merchant and online consumers shares burden safe and secure transactions online. However, e-commerce payment process procedure and CPI DSS rules adequately put in place, secured payment and guaranteed security of consumers card data. The payment process is capable of identifying genuine customers from impersonators, online or off-line and give credibility to online transactions.
Being a successful online merchant depend on the managerial ability and security consciousness. Products and service quality also count in e-commerce business. The boom in online trading by business entrepreneurs in USA, Europe, and Asia in countries, were the result of strict compliance with regulatory rules and standard practice. Exportation of goods and services is one of the yard stick of Gross Domestic Products (GDP) index of any country.
This emphasize the significant of e-commerce merchandising. Governments of the developed and emerging economy countries, provides incentives and adequate support to encourage entrepreneurs, engaged in export driven businesses. In e-commerce business, products and service quality is paramount. Consumers will not settle for anything less than quality standard. Where there is compromise in quality expectation, consumers have the right to return and press for refund of their money.
Every country have quality standard specification for imported products. Merchants are therefore expected to offer products and services that meet standard specification set by quality control body of their country.
Pricing also count in e-commerce business. It’s one aspect brings out the best of market competitiveness in e-commerce merchandising. Online consumers are mindful of the costs of their purchases. They compare prices of goods or services online by browsing different web stores for same product or service, before deciding which merchant web store’s to patronize.
One of online merchants strategies in the price war, is to attract customers with incentives like, discount, coupon and seasons or periodic gifts. E-commerce Solutions offer more insight to exploitable strategy that merchants explore to remain on top of their online businesses.