Capitalising On The E-commerce Opportunity

29/01/2010

By Craig Sullivan, VP International Products, NetSuite

Over the last decade, e-commerce has changed the face of the retail sector, helping companies to expand into new markets, engage more efficiently with customers, reduce costs and drive revenue growth. However, following a period of recession, many retailers can find themselves facing an uncertain future.

Under these conditions, e-commerce[/b will continue to be an integral retail sales channel. However, if managed correctly, [b]e-commerce can go much further and open up valuable new opportunities for growth. To succeed now, it is not just a question of selling online, but taking a strategic view...

...of your online presence to ensure it delivers the maximum possible value to your business. Thankfully, a new generation of e-commerce technologies, powered by web 2.0 techniques, is now heralding a new era for both businesses and consumers alike.

It is fair to say that the Internet offers businesses an unprecedented opportunity to increase revenue, expand customer reach, drive loyalty and improve margins. In 2009, online merchants generated £49.8 billion in sales in the UK alone, with an online sales increase of 21% over the same period the previous year.

Yet the e-commerce world is constantly maturing and improving, with flaws and shortcomings being addressed, giving way to today's second generation of software that meets the needs of even more businesses. These changes have resulted in the lowering of many barriers to entry, with the availability of on-demand models (hosted over the Internet) for e-commerce making participation easier and more cost-effective than ever before.

The key to making the most from your online presence is to have an understanding of potential risks, pitfalls and poor online practices, so that you can safeguard against them. Once these pitfalls are understood, your organisation will be in a stronger position to... continued on page two >

 

 

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