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The Future Of E-Commerce, Developments And Advancements
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Published: February 13, 2007
There is little doubt that the future of business, large and small, is in the digital realm. But what is the future of e-commerce? Since the dot com crash in the late ‘90s, businesses have been struggling with ensuring the future of e-commerce. For many companies, their every prospect depends on the future development of e-commerce.
The primary concern for most businesses looking into the future of e-commerce is building a customer base. The primary means of purchase for most consumers now is still brick and mortar stores. Yet as more people receive access to the Internet and faster connections, shoppers are turning more and more to online shopping.
Security is the biggest factor in making transactions easier and more comfortable for customers heading into the future of e-commerce. While by and large commercial transfer of funds is considered secure today, the fact is that consumers don't feel entirely comfortable sharing personal information, like credit card numbers, over the Internet. Making sure that their customers feel safe and secure about their money should be paramount for any business looking into the future of e-commerce.
Although many products and practices are on the market today for secure electronic transactions, none of them are without their holes or faults. While there probably isn't a system in the world that will ever change this, the future of e-commerce will involve businesses being more proactive, making sure that their security systems are up-to-date and evolving with changes to the electronic landscape. Security is important to ensure success for the future of e-commerce.
Advertising is another major factor business must look into if they wish to be part of the future development of e-commerce. Nielson Net Rating estimates say that as of December 2006, 480 million people world wide use the Internet in some capacity, a number which is growing exponentially every year. That's a lot of eyes on the Web, but without some kind of hook, none of them might ever notice that a business is there.
In the early days of the Internet, businesses mostly subsided on plain banner ads with a daring few utilizing annoying pop-ups. As technology has progressed, companies began incorporating more features, like sound and video, to draw attention to their advertising. But the truth is, the average user only spends around 45 seconds browsing a page, and most certainly aren't going to stop for advertising. Advertising will very likely take a simpler approach in the future of e-commerce.
Text ads, which allow businesses to provide a short, direct explanation of a product to their consumer and Adwords, which allow the consumer to click on a word of text and link immediately to sites that provide more information or services related to that word, are the big new advertising trend for the future of e-commerce. This streamlined, simple approach to attracting consumer eyes quickly and effectively without interrupting their surfing time are going to be a key part of building consumer bases, at least for the near future of e-commerce.
Internet business is a strange and ever evolving creature. What was the cutting edge of the digital frontier just a few years ago is now ancient history. The fact remains, however, that Internet business is the future of trade, and the future of e-commerce depends on businesses' ability to adapt to the ever changing environment. If the products are good, the customer feels secure, and businesses are able to figure out how to draw in customers, the future of e-commerce is bright. If not, history has shown that the dot com bubble can burst once again.
Sources:
E-Commerce. Wikipedia. 7 Feb. 2007. 8 Feb. 2007 <http://en.wikipedia.org/wiki/Electronic_commer ce>.
E-Commerce Security Issues. E-Commerce Digest. 2002-2007. 8 Feb. 2007 <http://www.ecommerce-digest.com/ecommerce-secu rity-issues.html>.
E-Commerce & The Internet. U.S. Federal Trade Commission. 30 Jan. 2007. 8 Feb. 2007. <http://www.ftc.gov/bcp/menu-internet.htm>.< br />Data and Rankings. Nielson Media Research. 2007. NetRatings, Inc. 8 Feb. 2007 <http://www.nielsen-netratings.com/resources.js p?section=pr_netv&nav=1>.
The primary concern for most businesses looking into the future of e-commerce is building a customer base. The primary means of purchase for most consumers now is still brick and mortar stores. Yet as more people receive access to the Internet and faster connections, shoppers are turning more and more to online shopping.
Security is the biggest factor in making transactions easier and more comfortable for customers heading into the future of e-commerce. While by and large commercial transfer of funds is considered secure today, the fact is that consumers don't feel entirely comfortable sharing personal information, like credit card numbers, over the Internet. Making sure that their customers feel safe and secure about their money should be paramount for any business looking into the future of e-commerce.
Although many products and practices are on the market today for secure electronic transactions, none of them are without their holes or faults. While there probably isn't a system in the world that will ever change this, the future of e-commerce will involve businesses being more proactive, making sure that their security systems are up-to-date and evolving with changes to the electronic landscape. Security is important to ensure success for the future of e-commerce.
Advertising is another major factor business must look into if they wish to be part of the future development of e-commerce. Nielson Net Rating estimates say that as of December 2006, 480 million people world wide use the Internet in some capacity, a number which is growing exponentially every year. That's a lot of eyes on the Web, but without some kind of hook, none of them might ever notice that a business is there.
In the early days of the Internet, businesses mostly subsided on plain banner ads with a daring few utilizing annoying pop-ups. As technology has progressed, companies began incorporating more features, like sound and video, to draw attention to their advertising. But the truth is, the average user only spends around 45 seconds browsing a page, and most certainly aren't going to stop for advertising. Advertising will very likely take a simpler approach in the future of e-commerce.
Text ads, which allow businesses to provide a short, direct explanation of a product to their consumer and Adwords, which allow the consumer to click on a word of text and link immediately to sites that provide more information or services related to that word, are the big new advertising trend for the future of e-commerce. This streamlined, simple approach to attracting consumer eyes quickly and effectively without interrupting their surfing time are going to be a key part of building consumer bases, at least for the near future of e-commerce.
Internet business is a strange and ever evolving creature. What was the cutting edge of the digital frontier just a few years ago is now ancient history. The fact remains, however, that Internet business is the future of trade, and the future of e-commerce depends on businesses' ability to adapt to the ever changing environment. If the products are good, the customer feels secure, and businesses are able to figure out how to draw in customers, the future of e-commerce is bright. If not, history has shown that the dot com bubble can burst once again.
Sources:
E-Commerce. Wikipedia. 7 Feb. 2007. 8 Feb. 2007 <http://en.wikipedia.org/wiki/Electronic_commer ce>.
E-Commerce Security Issues. E-Commerce Digest. 2002-2007. 8 Feb. 2007 <http://www.ecommerce-digest.com/ecommerce-secu rity-issues.html>.
E-Commerce & The Internet. U.S. Federal Trade Commission. 30 Jan. 2007. 8 Feb. 2007. <http://www.ftc.gov/bcp/menu-internet.htm>.< br />Data and Rankings. Nielson Media Research. 2007. NetRatings, Inc. 8 Feb. 2007 <http://www.nielsen-netratings.com/resources.js p?section=pr_netv&nav=1>.
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