E-commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet.
It also pertains to “any form of business transaction in which the parties interact electronically rather than by physical exchanges or direct physical contact
E-commerce is usually associated with buying and selling over the Internet, or conducting any transaction involving the transfer of ownership or rights to use goods or services through a computer-mediated network.
CHALLENGES OF E-COMMERCE
Lack of Verification Measures
Once a customer signs up in an e-commerce portal, the portal is unaware about the customer except the ...view middle of the document...
E-commerce industry is an industry where the cost of switching is pretty insignificant. A lot of players have lost customers because their rivals have a better quality of customer service, or better discounts. Knowing that 86% of clients stop doing business with a company because of poor customer service, you need to ensure customer service is always a priority for your online business and part of your retention strategy. Customers demand consistent and seamless experience across all channels, and players that refuses to deliver fail to retain customers.
WAYS OF MANAGING THE CHALLENGES
validate customers identity
This challenge can be brought under control by sending out a textual or/and email message to the customer to validate his/her identity. And when a COD purchase is issued, an automated call or Interactive Voice Response (IVR) can be dialled out to the customer and ask him/her to validate the delivery address. This would not send out the wrong message to the customers that they are being doubted, and it would fulfil...