eCommerce Shopping Sites

Today’s world is the world of internet, from gathering some information to buying any product everything can be done by internet. eCommerce is one of the most important facets of the Internet to have emerged in the recent times. eCommerce, which is short for electronic commerce, is the process used to distribute, buy, sell or market goods and services, and the transfer of funds online, through electronic communications or networks. Electronic commerce is commonly referred to as online commerce, Web commerce, eBusiness, eRetail, eTailing, e-tailing, or EC. eCommerce or electronic commerce has opened up new vistas of doing business anytime, anywhere.

At any given time, there are approximately 8 million consumers worldwide that actively shop and buy through Web based stores or retailers (nearly one tenth of our world population). Online studies have claimed that online retail revenues will surpass the quarter-trillion-dollar mark by 2011.

How It Works

The three main components of eCommerce are the Merchant Account, the Gateway, and the merchant’s Shopping Cart.

– Customer logs on to Internet to shop and connects to Merchant’s site.

– Customer elects to purchase a service or goods from merchant site.

– Merchants site connects to their Transaction Server (Gateway) through the Internet.

– Transaction Server connects to the Processing Network (ACH) to determine if Customers funds are available.

– Processing Network approves or disapproves transaction.

– If approved, Processing Network tells Transaction Server to proceed with sale.

1. Processing Network authorizes transfer of funds from Customer Bank to Merchant Bank.

2. Transaction Server confirms sale to Merchant’s site

3. Merchants site confirms sale to Customer

4. Depending on setup, Merchant delivers service or goods to Customer.

– If disapproved, Processing Network tells Transaction Server to decline sale.

1. Transaction Server relays decline notice to Merchant’s site.

2. Merchant’s site declines sale to customer.

There are multiple layers of security for both the merchant and customer, both at the site level and in the transaction server/processing network, as well as at the banks. All sensitive information, especially the credit card number, is encrypted before transmission.

It is imperative that an eCommerce website offers absolute security for the transactions that are carried out using credit cards. For the success of any eCommerce website it is necessary that a proper choice of payment gateway is made. A payment gateway is a separate service and acts as an intermediary between the website’s shopping cart and all the financial networks involved with the transaction, including the customers’ credit card issuer and the eCommerce website. If the eCommerce website has already purchased a shopping cart software, it needs to ensure that the payment gateway service is compatible with that shopping cart.

The benefits of eCommerce:

– Purchases can be made 24 hours a day, 7 days a week.

– Ease of purchasing goods.

– Your marketplace is larger and can increase your sales potential.

– Payment for your goods or services can be make immediately.

– Lower Startup Costs Increase Efficiency and Profitability.

– More convenient for customers.

– Reduces your overheads.

– The direct cost-of-sale for an order taken from a website is lower than through traditional means (retail, paper-based), as there is no human interaction during the online electronic purchase order process.

– Transactions can be processed quicker.

– Selling Online allows merchants to target and reach audiences, even on a limited budget. This creates the potential for anyone to sell anything Online.

– You can quickly update prices.

– Easier to Maintain Over Time. If an eCommerce design is done correctly from the very beginning, it will make the task of design maintenance much easier over time.

Magento Web Development – Benefits to Ecommerce

Magento web development is now the most popular and the most favourite option for many web development and ecommerce companies. This is an open source ecommerce platform and with the help of open source software’s, it is now easy to build easy and secure online businesses. Magento web site development, the new ecommerce platform offers high level flexibility to the users and is also very easy to be operated.

With the help of Magento development, the ecommerce merchants are provided with flexible stores over different components to their ecommerce website. Moreover, Magento shopping carts are the initial choice of the ecommerce merchants over the nation. Magento carts has powerful backend control panel with flawless functionality. Magento web site development helps in to manage product browsing, payments, manage your catalog, shipping, order management and other SEO marketing facilities.

Many companies now a day are professional with Magento. You must only contact the professional Magento developers only if you want a fully secured and working Magento website. Magento web development is the best online store solution for the ecommerce merchants and is available to you at very cheap prices. Magento websites can also be customized to a large extent. A part of modifying Magento is its extensions. There are basically three types of extensions namely interfaces, modules and themes. The ecommerce merchants can choose from thousands of extensions available online for enhanced functionality of the ecommerce website without compromising the standards.

To stand different from thousands of rest of the Magento website users, you just need to modify your themes and claim a unique back ground experience for your website users. This can be done in order to retain more and more prospective customers who visit your website and become the final consumer. Also the SEO functionality on the web helps you in increasing your page rank of website which ensures a heavy traffic.

Magento website development is the backbone of many ecommerce ventures operating on internet today. If you are interested in going for the best Magento web development, then contact the numerous available websites providing the Magento web development services for various ecommerce companies.

10 Benefits of eCommerce Website in Business

Electronic Commerce, or eCommerce which literally means business trading through the internet is a system that allows online movements, buying, selling goods, services, and information. eCommerce sites enable businesses of all sizes to reach their target range of customers without being physically present.

Benefits of eCommerce Website in Business

1. Saves Time:

In the Commercial markets, time plays an important role to both the business and consumers. eCommerce steps in and replaced the traditional commerce method where a single transaction can cost both parties a lot of valuable time. For instance, a banking transaction can be completed through the internet within a few minutes compared to the traditional banking method which may take up to hours.

2. Saves Money:

eCommerce is much more cost effective compared to traditional commerce method. eCommerce saves the cost used for the middle persons to sell their products and diverts to another aspect of their business. One instance is the famous computer enterprise Dell, which practice such a method by running most of their business through internet without involving any third parties.

3. Connects People with Products:

eCommerce provides better connectivity for its potential customer as their respective website can be accessed virtually from anywhere through internet. Thus more potential customers can get in touch with the companies’ business and eliminate the limits of geographical location.

4. Provides Freedom Of Choice

E-Trade offers multiple options for the consumer because the Internet contain endless numbers of different topics and locations, services and users can access throughout the world.

5. Creates a wide range of Opportunities:

The appearance of eCommerce as a pioneer has opened up various windows of opportunities for a variety of other companies and investors. For example, due to the booming of eCommerce, more and more resources are being directed into electronic securities, internet facilities, business plans and new technologies.

6. Provides Comparison Shopping:

eCommerce facilitates comparison shopping. There are several shopping search engines and comparison shopping websites that allow customers to browse multiple eCommerce merchants and find the best prices.

7. Assures 24/7 service even to people:

The customer can do transactions for the product or inquire about any product/services provided by a company any time, any where from any location. eCommerce application provides user more options and quicker delivery of products.

8. Makes life Easier

eCommerce has enabled access to services and products to rural areas as well, which are otherwise not available to them. eCommerce helps government to deliver public services like health care, education, social services at reduced cost and in an improved way.

9. Increases Interaction with Customers:

An online presence provides business with the opportunity to increase communications with customers through interactive elements such as product review’s, email newsletters, customer feedback, discussion forums and blogs. This insightful information can then be used to improve customer relations and fed back into business planning.

10. Helps to keep up with other competitors:

In order to stay competitive and not get left behind-each company needs to keep an eye on what other companies are doing. And because the internet provides transparency, there is no quicker and easier way to keep on top of what competitors are doing than monitoring their websites.