Copyright © 2018 Innovative Business Concepts. The idea of providing people with the platform of buying things at the single mouse click must have been akin to a fantasy back in the year 1994 when Jeff Bezos founded Amazon, a website that was originally meant to sell books. However, the company has grown into a behemoth, valued at $247.6 billion, and now retails almost anything you can think of and is a leader in the ever growing industry. As far as the novelty of the idea was concerned, it was smart, bold, and way ahead of its time. The number of online retailers increased at a breakneck pace following the success of Amazon, and an eMarketer report in 2014 pegged the total online retail sales at an astonishing $1.3 trillion (yes, Trillion with a capital ‘T’).
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If you have dreams of owning your own business then don’t let the idea that other businesses exist keep you from doing it. New concepts are always going to be welcome, tried out, and evaluated. But the great thing about the blend strategy is that you are not having to come up with something new, you are just taking two ideas that already exist and mixing them together to create something new.
E-commerce makes mass customization” possible. E-commerce applications in this area include easy-to-use ordering systems that allow customers to choose and order products according to their personal and unique specifications. For instance, a car manufacturing company with an e-commerce strategy allowing for online orders can have new cars built within a few days (instead of the several weeks it currently takes to build a new vehicle) based on customer’s specifications. This can work more effectively if a company’s manufacturing process is advanced and integrated into the ordering system.
There are a couple of disadvantages to these type of sites as well.Doing transaction on these type of websites requires co-operation between the buyer and has been noted many times that these two do not co-operate with each other after a transaction has been do not share the transaction information which may be via credit or debit card or internet can result in online fraud since the buyer and seller are not very well versed with each can lead to lawsuit being imposed on either ends or also on the site if it has not mentioned the disclaimer in its terms and may also hamper the c2c website’s reputation.Companies which handle consumer to consumer ecommerce websites seem to have becoming very cautious to prevent online scams.