wsuwiki:Creating New Pages
From wsuwiki
Link title:The Other Side of Web 2.0'
Contents |
Overview
B2C e-Commerce refers to the “Business to Consumer” online market which is gaining ground on the rest of the retail market every year. In the wake of the 2000 NASDAQ and dot com failure, B2C e-commerce encountered rough times where analysts did not expect such marketing to be profitable in the future. However, from 2000 to 2005,online spending has increased from $38.8 billion to $172 million, and by 2010 Americans are estimated to spend around $329 billion, signs of a flourishing online business to consumer market. The addition of broadband connections has enabled more attractive, engaging websites which in turn entice online shoppers to want to spend their money at retail sites, something which was not possible with the previously slower dial-up connection. Dot coms such as Amazon and eBay had garnered national attention towards the end of the 90s and showed other non-online retail giants, such as Wal-Mart and Kmart, a model for successfully venturing into the online market (of course prior to the dot com crash in the Spring of 2000). By 2002, multi-channel businesses began to become more and more popular, integrating their physical in store inventories with their online websites as well, making one-dimensional companies become more and more obsolete and ineffective. The major challenges of B2C e-commerce include personalization, creating an easy to use site complete with some type of customer support, etc. It is important to know that e-commerce can be profitable, and its growing popularity, more so today than ever before, make it one of the premier ways to generate money and step into the retail market. E-commerce is basically becoming one of the fastest growing ways of entering a market as well as succeeding in one today. Each year, online sales increase from the previous and they will only continue to grow in size and inventory. Companies recognize this opportunity to become multi-channel businesses and as long as the internet continues to grow, online sales and businesses will continue to utilize this ever-expanding market to their advantages.
Examples
- eBay
- Amazon
- Netflix
- Gamefly
Benefits
- It's geographically limitless
- Increase inventory
- It's always available
- Build Customer Loyalty
- Reduction of Marketing and Advertising Costs
- Brings power to the Customer
References
ABC: An Introduction To E-Commerce... [1]
eBay [2]
Amazon [3]
Netflix [4]
Gamefly [5]