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This has to be the most-frequently asked question I receive from newbie clients. They know people are buying online and they know they have to accept credit cards if they want to stand a chance in all the net-based competition, but beyond that realization, most are clueless as to how it all works.
I can`t blame them, really. It`s a confusing online world out there and a lot of people who are trying to tell them how it works are really just trying to sell them their own solution. It`s kinda hard to trust the validity of what they say when profit is a huge motivating force behind their persuasive suggestions.
And to be sure, there is profit in this Ecommerce game! Money is to be made at many steps along the Ecommerce path. With that in mind, let`s take a walk along the path to Ecommerce, and take a look at the signs--or components--that are necessary to take part in the Ecommerce excitement and potential profits.
1. The Merchant Account:
This really is your first step towards Ecommerce, unless you have chosen to go through a payment facility and are willing to give up a rather large portion of your sales in fees. The up-front costs of a merchant account can be hefty for a small business, but the long-term savings can be substantial.
This is especially true if you are selling big ticket items. For instance, on the sale of a $300 product/service through a payment facility you could pay between $20-$45 dollars or more in fees. With your own merchant account it will probably cost you about $9. With the typical fees and equipment for a merchant account startup costing about $1,500, you can recoup that cost rather quickly.
A merchant account comes with a merchant identification number. That is about all it gets you. In order to process transactions you need either a terminal (the little box that you swipe your credit card through at retail outlets) or software that runs on your PC and will dial up the merchant via your modem, and then process the transaction and deposit the money into your bank account.
2. The Shopping Cart:
If you are selling just one or two items on your site you won`t have much need for a shopping cart. A site with a variety of products should use the shopping cart system because it`s the easiest way for your customers to shop. The easier it is to shop, the more they will spend, which is exactly the psychology supermarkets use, and exactly how shoppers are similar whether in a supermarket or scanning through your website. And the nice thing about electronic shopping carts is that the wheels never go ....[MORE]
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Accountancy Forum. Author. Topic. Ashfaque Shaikh. Well, ecommerce is here to stay. Companies are increasingly focusing their attention to it. ... Technology. Futureofecommerce. New Topic Reply to Topic ... What do you think is the futureofecommerce? ...
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... The FutureofEcommerce is Knowing All About You ... We have one scanner per couple, and we'll have the future wife run upstairs to women's clothing, and [the groom] wants ...
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FutureofEcommerce. 2003-10-27. The attempt to paint a clear picture of the future is always fertile. ... has not solved the problem of slow development ofecommerce standards. The development and acceptance of standards will ...
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[see more on eCommerceFile type:PDF - Download PDF ReadereCommerce. Prepared by. _ _2. GroupName. March 9, 2000. Group Members. Good Student1. Good Student 2. Good Student 3. Good Student 4. Good Student 5. Table of Contentsmccoy.lib.siu.edu/rcdlmd/kharting/108download/eCommerce.PDF More pages from mccoy.lib.siu.edu Future of Ecommerce]
Date/Time: Thu, November 2, 2000 at 6:59 PM GMT. Browser: Microsoft Internet Explorer V5.0 using Windows 98. Score: 5. Subject: MALL extension has big future for ecommerce. Message:
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The FutureofEcommerce is Knowing All About You - Usability. The Cre8asite Forum covers expert advice on search engine optimization, usability, web design, quality assurance testing and more by leaders in these fields.
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A company claims Etsy infringed on five of its patents and is asking for profits, triple damages and a permanent injunction; Facebook's initial IPO trading was chaotic on Friday, leading to disappointed traders; this and more from around the web in today's ecommerce news roundup!
(Reuters) - Phone directories company Yell Group acknowledged the depth of its financial distress on Tuesday as it struggles with a dying core business and over 2 billion pounds worth of debt, much of which it must repay in two years time. The company, which publishes paper phone books around the world, said it would try to address its troubles with a corporate restructuring, and increased focus ...
http://uk.news.yahoo.com/yell-takes-big-charge-plans-capital-structure-065622938--finance. html