The Seven Features of eCommerce
From early and humble beginnings where the amount traded was very modest and a company having a website was rare, now e-commerce sees billions traded annually and no large company of any commercial presence can afford to be without a website. Indeed, for many companies, their presence on the Internet is their window to the world and they are total e-commerce businesses.
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Ubiquity and Global Reach and Universal Standards
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There are seven basic features of e-commerce. The first three relate to the global nature of the e-commerce environment. Ubiquity means that the commercial transaction or activity is available at anytime from anywhere in the world. Global reach is the number of potential consumers a business can reach; this means high levels of global Internet connectivity. Universal standards means that e-commerce operates on standard platforms with agreed methods and systems.
Richness and Interactivity
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Richness and interactivity refer to the content available on the e-commerce platform and how it used by the consumer. Richness means the commercial activity and experience is conducted through a variety of messages and means, such as videos, text, pictures, sound, links, SMS and more. Interactivity is the relationship a consumer has with this richness -- similar to a face-to-face customer meeting in a traditional business.
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Information Density
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Information density relates to the technological capabilities of e-commerce, in that vast amounts of information can be stored and made accessible very cheaply and without the need for bulky storage. In e-commerce banking, a customer can have access to a vast array of personal records and the bank can store huge amounts of information as well.
Personalization
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e-commerce takes personalized selling and marketing to a new level because of the level of information-gathering and interaction and engagement a consumer has online. Products and messages can be personally targeted in a much more efficient way, saving a lot of wasted time and boosting the potential for sales.
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References
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