E-Commerce Technologies, Features, Advantage and Disadvantage

E-commerce is a commercial transaction which happens over the Internet and E-commerce technology has given a different shape to the typical type of business. In this article, we’re going to discuss about E-Commerce Technologies, Features, Advantage and Disadvantage. 

E-Commerce Technologies

This twenty-first century is the golden age or revolutionary time for the e-commerce industry. Digital payment systems, fast internet services, internet marketing, online transaction processing, electronic data interchange, automated data management system, supply chain management, product tracking system, digital delivery system, customer-friendly commerce services, etc., are the main greatest elements of digital e-commerce technology. E-commerce technology has evolved from a specific area-based trade to global trade. It involves time, labor, consumer choice, and financial development.   

Payment Technology: Money has a definite and long economic evolution – commodity currency, metal currency, credit currency, e-money, cryptocurrency, etc. In the E-Commerce industry, digital payment or electronic payment systems take a new revolutionary shape. Especially in China, digital payments (Alipay and Wepay) are used on all types of e-commerce platforms such as Alibaba, Taobao, TMall, Pinduoduo, Jingdong, and so on.

Paper money is becoming extinct due to electronic payment systems. So many different types of e-commerce payments are used nowadays such as Credit Card, Debit Card, Smart Card, E-Money, E-Wallet, Mobile payments, Electronic Fund Transfer (EFT), etc. Consumers can purchase their desired products online using the electronic payment system. Some great benefits like an increase in business sales, expanding business worldwide, improving business services, improving customer relationships, makes the electronic payment system the backbone of the e-commerce industry nowadays.

10 Most Influential E-Commerce Platforms in the World

Logistics Technology: Logistics technology is a specific system or process that determines exactly how customers will receive their products from the retailer and the purpose of logistics is to plan, manage, organize, and control them scientifically. Logistics activities include transportation, storage, loading and unloading, packaging, circulation, distributing, processing, and some related information activities. Regional Logistics, Domestic Logistics, International Logistics are the classification of Logistics Technology.

Security Technology: E-commerce security technology is the most crucial part of the e-commerce industry. E-commerce security is the protection of e-commerce assets from unauthorized access, use, alteration, manipulation, or destruction. E-commerce industries have to adhere to certain e-commerce security guidelines to provide maximum security to consumers.

E-Commerce Features

E-Commerce Advantage 

• Faster buying/selling procedure
• Large global market
• Cost reduction
• Customer-friendly product listing
• 24/7 potential income
• Convenient and cheap
• Wide product variety
• Saves travel time and cost
• Gain unlimited customer 
• Affordable advertising and marketing
• Product and price comparison
• Several payment methods
• Customer tracking and analytics
• Consumer trends and market demand
• Easily retarget consumers
• Reduces the paperwork
• Various virtual auctions
• Guarantee of product quality

E-Commerce Disadvantage

• Higher cost of creating site
• Huge technical cost
• 24/7 website availability
• Website crash and down
• Personalized Messaging
• Concerns about data privacy
• Late delivery
• Cannot try before buying
• Creating consumer reliability 
• Tax issues
• IT security issues
• Internet required 
• Credit card fraud
• Consumers confusion  
• Online fraud 
• Regular site changing
• Product suitability
• Consumer can’t test product
• Shipping problems
• Lack of security

Download full paper “E-commerce & Alibaba’s Business Strategy”