The Promise of E-Commerce

Mitra, S. (2010). The promise of e-commerce. Retrieved April 11, 2010 from: http://www.forbes.com/2010/04/08/retailing-entreprenuers-online-intelligent-technology-ecommerce.html?feed=rss_home

This article was written by Sramana Mitra, technology entrepreneur and strategy consultant in Silicon Valley, and discusses the opportunities that retailer have in the world of e-commerce. E-commerce is growing in leaps and bounds and the author states that online spending grew 18% in March this year compared to last March and has experienced double-digit growth for eight consecutive months; this growth rate has outpaced that of brick-and-mortar stores as well. Entrepreneurs today have to consider the e-commerce market rather than a traditional store or at least have e-commerce in addition to the brick-and-mortar store. However, the author states that to be found on the Internet, the company needs to get connected with the consumer through one or more of the following channels: eBay, search engines, or comparison shopping engines. The author quotes ChannelAdvisor CEO Scott Wingo, who claims that 80% of e-commerce begins through one of these channels. The Internet has changed and continues to change the way the world is doing business. It is important for managers of any type of business to understand that fact and to take proactive steps to utilize this tool to their company’s advantage. Otherwise, they will likely be left behind in no time.