Business & Finance

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Previously people would have to buy products of their choice from the nearby local market. They were restricted to the items that would be available to the store and were bound to choose from among them. Now the times have changed and the world is now a global market. People can now buy their product of choice by importing it from a foreign country. This concept of global market has uplifted the standard of life, giving access to almost everything to everyone. E-commerce has made it even easier to buy products using online portals.

The fallacies of e-commerce

Though e-commerce has been a boon to the global market, it comes with certain drawbacks. The drawbacks are quite severe and are the determining factors for a customer before making a purchase. Some of the drawbacks are:

  1. Physical verification and sampling- This is one of the greatest disadvantages of e-commerce. Products available online cannot be physically examined by the customers. Even though manufacturers and the online retailers guarantee about the quality of the products, customers have a tendency of being reluctant to buying products without actually getting their hands on it. Showing of the image of a product is not sufficient enough for the customer's satisfaction.
  2. Payment methods- Most online retailers demand online prepaid methods of transactions for buying their products. This proves as an insecurity to the customers as they have to pay without receiving the product right away. They fear if they get a wrong product or no product at all, and lose their money. Some people do not have the facilities to make online transactions. Thankfully few retailers offer cash on delivery which not only bypasses the need of a prepaid online payment, but also provides relief to the customer as they can get their hands on the product before they pay.
  3. Delivery charges and duration- Some retailers ask for additional charges for delivery, especially when the amount of the product bought is less. In such cases, sometimes the delivery charges surpass the price of the product. Another issue with delivery is that sometimes it takes a long time before a product gets delivered. It is definitely not a good experience for the customers who have already paid for their products.

Ways to tackle the fallacies of e-commerce

a.Use of virtual reality- With the help of this technology the customers can virtually experience the feel of the product without actually having the product in hand. This gives the customer some experience reading how the product might look like and determine whether they should make the purchase or not.

b.Technologies such as 3D printing- This was an old discovery which developed with time. Using bio-degradable and eco-friendly raw materials, one can make a copy of the original item so that the customer can get a hands-on experience of the product.

c.Image rendering techniques- In this process, raw materials such as fabric can be used to produce an image of the of the future product which would allow the manufacturers to start making the product only after a confirmed order. This was there will be minimum loss, as well as customer satisfaction regarding quality of product.

Conclusion- E-commerce has proved to be been a boon to the global market. However, it fails to flourish due to the obstacles that are there regarding e-commerce. Use of modern technology and other offers can help uplift this which would benefit the manufacturer, seller and the consumer.