The E-Commerce Industry
Present and the History
The E-commerce Industry today constitutes for trillion dollars of market today. There have been multiple industries that were able to influence the growth in the latter part. Like human adaption to the environment and surroundings, EC had grown from a similar ideology or framework.
In early 2009, US markets had mainly B2B transactions , which included buying & selling from and between manufacturers & merchant wholesalers. Retailers had very little part to play in the growth of the industry. it was not considered as a necessary accessory to the growth. Which effectively resulted in minimum scalability and adaptability to the market needs. Manufacturers and wholesalers were not able to go deep in the market and satisfy the needs of the majority. Retailers play an important part in the scalability of commerce. Retailers were present and knew the detailed requirements and might have had the capacity to fulfill the needs. This was later understood by the companies.
When, retailers have to be included in order to scale and capture, finding the right person and other technical and transaction issues had to be considered. Trust was hanging on a thin thread for basic connectivity and eventually trade. But soon, internet came to the aid. With the help of the internet, connectivity, transactions, communication, adaptability, trade now seemed like a good risk. The risk and commencement of this business module gave birth to the E-commerce sector.
The e-commerce sector showed growth in transactions by 46% in 2010. with the success of this module, the shipments sector also saw a rise in transactions and were making a good amount of about $ 1,211 billion. At the start of e-commerce in China & India, it showed growth of about 7.7% ($ 2.70 billion to $ 2.96 billion). India started to understand the importance and scalability in late 2011. Within a year, India & China started to contribute to the sector and the global transaction of e-commerce went from $3.4 trillion to $ 12.4 trillion as compared to 2005 & 2012.
There were multiple industries which helped to influence this growth. Few of the industries, such as multimedia, entertainment, fashion, were able to contribute and make e-commerce a new business module.
E- commerce as a platform
E-commerce as a platform comes with its own issues. The modules or the platforms that we see and experience today have gone through many disagreements and adaptations and understanding over the years.
- Pressure from trading companies
- Pressure from Competitors
- Top Management
- Network Reliability
- Data Security