E-commerce Basics
This refers to the buying and selling of goods and services over the internet.
What is e-commerce?
This benefit allows businesses to operate and make sales 24 hours a day.
What is 24/7 availability?
What is access to data analytics (or customer data tracking)?
What is cybercrime (or cybersecurity risk)?
This platform is commonly used by small Caribbean businesses to sell products through direct messaging and posts.
What is Instagram (or WhatsApp Business)?
This type of e-commerce occurs when a business sells products directly to individual customers online
What is B2C (Business to Consumer)?
This advantage allows a small business in Trinidad to sell products to customers in the USA or UK.
What is global market reach?
This challenge occurs when customers experience late deliveries due to shipping problems.
What are logistics or delivery delays?
If a company increases online advertising to boost website traffic and sales, it is using this strategy.
What is digital marketing?
This is the secure system that allows customers to pay online using credit cards or digital wallets.
What is an online payment system (or payment gateway)?
This benefit allows businesses to track customer behavior and use data to improve marketing strategies
What is access to data analytics (or customer data tracking)?
This disadvantage makes it difficult for customers to inspect products physically before purchase.
What is lack of physical inspection (or inability to see/touch goods)?
If a local fashion brand expands from physical stores to online sales to increase revenue, it is practicing this growth strategy.
What is market development (or diversification into e-commerce)?