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Class-5 Impacts of E-Business On Different Fields
Class-5 Impacts of E-Business On Different Fields
Meaning or Concept
2. Customer Data
• Online shopping benefits companies by enabling them to gather client information for further processing. Companies may sell
their goods more effectively using consumer purchasing patterns, statistics, and desires.
• By analysing e-commerce data to predict when demand for a product will be higher or lower, they may reduce the likelihood of
overstocking or understocking it.
3. Personalization
• The customer experience must also be monitored in online companies, which also allows a chance to customize offers,
newsletters, and other materials to appeal to various clients.
• A common e-commerce trend is the development of mobile applications for virtual and augmented reality for businesses to give
their customers an improved and more personalized service.
4. Business Growth
• With the help of technology, it is simpler to advance and carry out your company’s thoughts. Expenses are lower, and you can
highlight the goods you want to sell. Addressing the consumer is made feasible by changing the information.
• Marketing is readily accessible, as are many strategies for generating leads. A crucial aspect to keep in mind through this
procedure is openness.
5. Affordable Promotion
• E-commerce is available 24 hours a day. Customers may use e-commerce at any moment of the day to make any purchases and
acquire all the data they need.
• The openness enhances the ability to produce leads and revenue and strengthens the interaction between customers and
retailers.
Challenges of E-commerce on Business (1)
1. Cybersecurity & Data Security
• One of the main difficulties in eCommerce is privacy violations. Engaging with eCommerce involves a lot of facts
and figures, and a data-related technological problem might seriously harm the retailer activities and reputation.
• This can trigger a lot of fraud and put the company in danger. Organizations are required to save different
consumer data, such as the name, address, contact details, email address, and age of the customer.
• Significant expenditures are needed to protect the data from misuse. Thus, the e-commerce app must be capable
of keeping customer information confidential. Thus, impact of e-commerce on business is challenged by
cybersecurity and data security.
2. Changing Customer Trends and Market Conditions
• The business model that is evolving and transforming the most quickly is e-commerce. The impact of e-commerce
on business is well-illustrated with the changing customer trends and market conditions.
• Staying up is challenging, and failing to do so can be expensive. Numerous lists discussing the newest e-commerce
trends can be found online, which continually pressures firms.
3. Strategic Return & Refund Programs
• Currently, most online retailers provide free or highly affordable return and refund policies. But surprisingly, only
some companies with a free return and refund policy deliver hassle-free transactions.
• Create your policies with the smallest amount of work on the side of those who need to return items in mind.
Buyers may find tactics like offering shop credits for refunds and requesting they repack things and pay the return
shipping expenses overly demanding.
Challenges of E-commerce on Business (2)
4. Customer Satisfaction & Customer Loyalty
• These days, keeping clients is always tricky, especially for e-commerce companies. In addition, brand loyalty varies with the
state of the economy.
• Because of this, having a solid customer loyalty program is crucial, which point out the impact of ecommerce. Establishing these
strategies will make it easier for your clients to work with you again.
5. Mobile-Dependent Shoppers
• The use of smartphones has surpassed that of desktop computers. Therefore, your consumer must be able to utilize mobile
phones on e-commerce sites or apps to explore and make purchases.
• Your e-commerce app thus must be optimized for smartphones. Ensure that your mobile app developers know your need for
your application to be adaptable for every mobile platform if you have a personalized build.
• Customers only pay attention briefly, particularly if they’re on a tight schedule. This implies that your e-commerce site or app
must be incredibly effective at providing users with the details they want as soon as possible.
6. Accessibility/Connection Challenges
• Low bandwidth and unreliable connection are common challenges. However, the lack of sufficient and reliable electronic
payment services.
• Costly and limited internet connection is a widespread problem in our country. Consumer dissatisfaction due to inability to
delivering correct product on time.
E-Tourism: Concepts and Forms
2) ACCESSIBILITY:
It is important key factor for the development of tourism.
Attraction may be wherever but without accessibility can’t reach towards that
place.
It is the mode of transportation which helps the tourist to reach the destination.
Three type of transportation:
a) Surface: Transportation in land through roadways or railways. It is the cheapest
means of transportation.
b) Air Transportation: Transportation through airways to travel long distance. It has
helped a lot as people can travel long journey through high mountains.
c) Water Transportation: Transportation through water. It made important
contribution to travel in 19th century after the innovation of shipping technology.
COMPONENTS OF TOURISM (2)
3) ACCOMMODATION:
• It includes food & lodging facilities to the guest.
• It should be comfortable, and services & facilities should be provided.
• Two types of accommodation:
a) Serviced Accommodation: It refers to the services provided by the
hotel, lodges etc.
b) Supplementary Accommodation: It refers to the premises which offer
accommodation but not the services of hotel.
4) AMENITIES:
• Extra facilities & services required to the guest while traveling.
• Facilities complement to the attraction.
• It also provides facilities like providing visa, tickets etc.
• Two types of amenities:
a) Natural: Seashores, sea bath, fishing, rock climbing, trekking,
sightseeing, river, sunrise etc.
b) Man made: Dance, Music, Drama, Cinema, Swimming Pool, Fair &
Festivals, and Internet etc.
Market Segments in E-Tourism
1. Online Travel Agencies (OTAs): 2. Mobile Travel Applications: Mobile 3. Experience-Based Travel: The 4. Wellness and Health Tourism: The
OTAs ( Expedia, Booking.com, Airbnb) apps catering to various travel needs market for unique and experiential wellness tourism segment has
continue to dominate the online have seen substantial growth, travel offerings has expanded, with witnessed growth with the rise of
space, offering a variety of travel- providing on-the-go services for platforms like Airbnb Experiences, online platforms offering specialized
related services, including booking, itinerary management, offering tourists access to authentic retreats, spa experiences, fitness
accommodation bookings, flight navigation, language translation, and local experiences, guided tours, programs, and wellness targeting
reservations, car rentals, etc... review sharing. workshops, and cultural activities. health-conscious travellers.
5. Ecotourism and Sus. Travel: 6. Cultural and Heritage Tourism: 7. Adventure and Extreme Tourism: 8. Food and Culinary Tourism: Online
Increasing concern for the Platforms focusing on cultural tourism Specialized platforms catering to platforms focused on food tourism and
environment and sustainability has led offer access to heritage sites, adventure seekers offer activities such culinary experiences have gained
to a rise in ecotourism offerings and historical tours, and opportunities to as extreme sports, trekking, popularity, offering food tours, cooking
platforms promoting responsible explore art, traditions, and cultural mountaineering experiences for classes and wine and dining
travel, nature-based experiences... experiences. adventure enthusiasts. experiences.
2. Company career websites: Companies can host job postings and career information on their own websites, attracting
candidates directly and showcasing their employer brand.
3. Social media recruiting: Platforms like LinkedIn, Facebook, and Twitter are increasingly used for recruitment.
Companies can target specific demographics and skill sets and build relationships with potential candidates.
4. Applicant tracking systems (ATS): These software platforms help manage the recruitment process, from posting jobs
to tracking applications, scheduling interviews, and making hiring decisions.
5. Online assessments: Companies can use online tests and assessments to screen candidates for skills, knowledge,
and cultural fit. This can save time and resources by identifying promising candidates early in the process.
6. Video interviewing: Online video conferencing tools like Zoom and Skype are becoming popular for conducting
interviews. This can be a convenient and cost-effective way to connect with candidates from remote areas.
7. Recruitment marketing: This involves using marketing strategies to attract and engage potential candidates.
Companies can create employer branding campaigns, share employee stories, and participate in industry events.
Advantages of implementing e-recruitment
Specific search of jobs: Precise keyword filtering on job boards and company
Time saving: Automate tasks, streamline processes, and interview remotely for websites allows candidates to find highly relevant opportunities, ensuring a more
swift, efficient hiring. focused applicant pool.
Cost saving: Recruiters can leverage free platforms and let go of print ads to attract Large number of opportunities: Online platforms aggregate countless jobs, giving
suitable candidates. candidates access to a wider range of potential career paths beyond local limitations.
Better match of candidates: Recruiters can utilize keyword searches, skills Wider geographic search: E-recruitment removes geographical constraints, enabling
assessments, and targeted outreach to land ideal fits. companies to access talent across broader regions and attract diverse skill sets.
Advertising benefits: Hiring managers can enhance employer branding, showcase Quick responses: Automated communication tools and online interview scheduling
company culture, and attract passive talent through engaging online channels. platforms expedite the process, providing faster feedback and reducing wait times for
both candidates and companies.
Disadvantages of implementing e-recruitment
Increased Demand for Warehousing and Distribution Centers: On the flip side, the growth of e-commerce has
created a surge in demand for warehousing and distribution centers. As online retailers strive to meet consumer
expectations for quick and efficient delivery, the need for strategically located warehouses has skyrocketed.
Expansion of Last-Mile Delivery Networks: The rise of e-commerce has also fueled the expansion of last-mile
delivery networks. With the increased demand for fast and reliable deliveries, logistics companies and e-
commerce retailers are actively seeking space in urban areas closer to the end consumers.
Evolution of Retail Space Design: To adapt to the changing retail landscape, commercial real estate developers
and property owners have had to reimagine the design and functionality of retail spaces. Traditional retail spaces
are being transformed into mixed-use developments that incorporate a combination of retail, entertainment,
dining, and experiential components.
Repurposing of Retail Spaces: As the demand for traditional retail spaces declines, property owners are
exploring alternative uses for vacant or underutilized properties. Some retail spaces are being repurposed for
non-retail uses such as offices, coworking spaces, healthcare facilities, or entertainment venues. This adaptive
reuse of space helps revitalize struggling retail properties and brings new life to commercial real estate.
Impact on Investor Strategies: The impact of e-commerce on commercial real estate has also influenced investor
strategies. Investors are now focusing on acquiring and developing properties that support the e-commerce
ecosystem, such as warehouses, distribution centers, and logistics facilities.
Innovation and Technology Integration: The integration of technology and innovation has become crucial in
commercial real estate. Property owners are incorporating advanced technologies like automation, robotics, and
artificial intelligence to optimize warehouse operations, improve efficiency, and streamline the supply chain.
Challenges for Retailers and Landlords: While e-commerce offers numerous benefits, it also presents
challenges for retailers and landlords. Traditional retailers must adapt their business models to include an online
presence and omnichannel strategies to remain competitive.
How e-commerce impact on commercial real estate in inflation
1. Diversification of Revenue Streams: E-commerce provides an additional revenue stream for commercial real estate properties, especially those with a retail
component. By embracing e-commerce, property owners can tap into the growing online market and diversify their revenue sources beyond traditional brick-
and-mortar retail. This diversification helps mitigate the impact of rising costs and inflation on commercial properties.
2. Increased Demand for Industrial and Warehouse Spaces: E-commerce relies heavily on efficient logistics and distribution networks. As online retail
continues to expand, there is a growing demand for industrial and warehouse spaces to support the storage, packaging, and distribution of goods. This
increased demand for industrial real estate helps offset the effects of inflation and provides stability to the commercial real estate market.
3. Adaptation of Retail Spaces: Traditional retailers may face challenges in maintaining profitability due to rising costs. However, by adapting their business
models and incorporating e-commerce strategies, retailers can offset some of the effects of inflation. This adaptation includes integrating online sales with
physical stores, implementing omnichannel approaches, and optimizing retail spaces to cater to both in-store and online experiences.
4. Cost Efficiency and Operational Optimization: E-commerce allows retailers to streamline their operations and reduce costs. By leveraging online platforms,
retailers can reach a broader customer base without the need for extensive physical storefronts. This cost-efficient approach can help offset the impact of
inflation on operating expenses, such as rent, utilities, and labor costs, allowing commercial real estate tenants to manage their budgets more effectively.
5. Integration of Technology and Automation: The integration of technology extends to commercial real estate, where property owners and tenants can
leverage smart building systems, data analytics, and automation to optimize energy usage, improve space utilization, and enhance efficiency. By adopting these
technologies, commercial real estate stakeholders can mitigate the impact of inflation by reducing operational costs and improving performance.
6. Supply Chain Resilience: E-commerce often involves a distributed supply chain network to ensure timely deliveries. E-commerce enables businesses to
source products and materials from various suppliers, reducing reliance on specific regions or markets. This diversification of the supply chain helps mitigate
the risks associated with inflation and ensures the continuity of operations.
7. Flexibility and Adaptability: E-commerce provides commercial real estate with the flexibility to adapt to changing market dynamics and consumer
preferences. As the retail landscape evolves, properties can be repurposed to accommodate new uses or meet the evolving demands of e-commerce This
adaptability ensures that commercial real estate remains relevant and resilient in the face of inflationary pressures.
E-Books and Online Publishing
Fund Transfers
Another important feature of e-banking is that it enables
quick and secure fund transfers through NEFT, RTGS,
IMPS, or UPI modes.
Bill Payment
Online banking simplifies bill payments, allowing users
to settle utility bills, credit card payments, loan
repayments, online mobile recharges, etc.
24/7 Availability
With 24/7 accessibility, e-banking allows users to manage their
accounts and conduct transactions at their convenience from
anywhere.
Easy to Operate
User-friendly interfaces and available tutorials make e-banking
platforms easy to navigate, ensuring a seamless and straightforward
banking experience.
Convenience
E-banking eliminates the need for physical bank visits, offering users
the flexibility to perform transactions from anywhere and anytime, thus
saving time.
Activity Tracking
Users can track their account activities in real-time, gaining visibility
and control over their finances with features like transaction history
and account balance updates.
Significance of E-Banking
For Clients For Businesses For Banks
• Each company will have difficulties, while all enterprises require thorough
marketing plans, competent management, and a lot of effort. E-
commerce has a lot of potential benefits for your company. The impact of
e-commerce on business is quick and highly versatile. However, it also
poses some particular difficulties.
• You must put much effort into creating an excellent website and a robust
internet presence. In addition, you must be receptive to the requirements
of both your clientele and your company. Finally, you must be willing to
follow the newest and best advancements in digital advertising. This way
you can have a positive impact of e-commerce on business.
• Employment: The impact of the Internet on the job market and
employment is profound and multifaceted. While it has created new
opportunities and made the job search process more accessible, it has
also brought challenges such as job displacement and the need for
continuous skill development.