E-commerce challenges affecting individuals, business and countries differ to a great extent depending on knowledge levels, access to capital, support infrastructure and local geographical challenges. The complexity of online business warrants an individual approach. A company with an existing online business is likely to face a separate set off e-commerce challenges than that of an individual looking to start a venture or a company in Russia who is limited by market dynamics.
For a company or individual looking to get involved in e-commerce the internet challenge associated with establishing an online presence is scoped and bounded by design, infrastructure and technical know how. Cost considerations arise as a natural consequence of building a tailored approach. Companies that do not have specialized in-house personal need to hire or procure the necessary advice. An individual with skills and experience will be able to assess the business requirements and guide the company towards a relevant solution. Without the technical ‘know how’, or awareness of technical and business requirements, a company can end up with a solution misfit. The benefits of procuring suitably qualified advice can assist in overcoming the initial e-commerce starting challenges.
In less developed countries such as Russia, the internet challenges facing companies and individuals extend beyond educational awareness. With a high percentage of consumers operating without credit cards, this dampens the enthusiasm for e-commerce and limits the available market. Poor telecommunications and postal infrastructure create a separate set of logistical challenges. Whenever security and trusts issues present, it erodes consumer confidence. Thus the e-commerce challenges facing Russia can be slightly different to those faced by established operators or businesses in well developed countries.
Security is one of the biggest e-commerce challenges faced by businesses on a global scale. With the proliferation of internet fraud reported by the media, identity theft and the compromise of banking and online transaction systems, consumers can be reluctant to embrace new transaction technology. It is therefore a continual challenge for authorities and businesses to raise security levels to influence consumer confidence level. The security protocols adopted by corporations are improving but it requires a consistent and dedicated approach to win broad consumer appeal. BNPL
Established companies are always looking for new ways to attract customers online. Online promotion is an e-commerce challenge. Working out which channels, both online and offline, which marketing mix or strategy to use is the focus of a new breed of online entrepreneurs who are wired to the cognitive purchasing behavior of consumers.
The e-commerce challenges faced by business and individuals are wide and varied and do change in response to market, landscape and educational awareness levels.