Ecommerce and the Great Depression Lesson

The Great Depression is long past the memory of most individuals. So, for a brief history lesson this economic collapse happened in 1929 in the United States and took almost fifteen years to end.

In our recent economic climate there are many who wish to point out lessons learned from this event. Obvious lessons include the need to spend less than you receive in wages, save money whenever possible, use what you do have as long as possible and find ways to cut back.

The Great Depression is a historical monument to frugality. Many who lived through that era remained frugal throughout their lives. This is in stark contrast to the last few decades. We often want what we want when we want it and don’t mind using credit to get it.

I think one of the biggest lessons of this economic misstep is that we should not wait for someone to bail us out. We need to have a strong sense of self-reliance.

This is especially true of those involved in ecommerce. The growth of business online is staggering. It is something that is used by some as their sole means of income while others use it to supplement an income that may not quite cover all the expenses.

Face it; many people are looking for work. The Internet may actually provide the feeling of becoming a mom and pop establishment of the past in this modern age of fast page corporate lifestyles.

There are numerous couples who are turning to ecommerce and home-based business as a means of escaping the lack of job security in the general workplace. Many do this intentionally and others are introduced to the idea through necessity.

These individuals are not looking for a handout. They are striving to meet the needs of their customers, and their families. They are spending long hours in site maintenance, product fulfillment and marketing. What’s more they are loving every minute of it because for every hard hour worked they are finding great satisfaction in answering their own economic questions.

While others stand in long lines filling out applications that in some cases are being fought over by hundreds of other applicants these individuals are carving out their own way in an online environment. They are becoming their own boss and learning new skills that will allow them to care for their family over the long haul.

In the Great Depression men often had to travel great distances from their family in order to find work. The families they left behind were often evicted from their homes or worked especially hard to find their own way to raise money to keep a roof over their heads.

Those who figured out a way to pay their bills in these ‘worst of times’ were the ones who came out the other side with fewer scars and a greater attitude toward the days to come.

You, too, can get past the days we are currently in, but it will take hard work and it will mean relying on yourself more than you may have ever had to do before, but the good news is you can do it and an online environment is a cost effective way to build a business that will allow you to confront and conquer expenses.

eCommerce and Its Advantages

eCommerce is the purchase of goods and services online. Increasingly, people have been buying things online because of its speed and convenience. Nothing can beat Internet speed in the purchase of these goods over large distances, except perhaps bad weather. There are many other advantages of eCommerce both for the consumer and the online vendor.

Consumer Advantage

Online shopping saves time, money and the trouble of long lines. People never thought online shopping would thrive ever since CompuServe created the first Electronic Mall during the 1980’s. However, now it has almost become a way of life.

Buying online offers a greater selection. It gives you the power of choosing your most preferred goods in the comfort of your own home. It gives the consumer less hassle and less waste of resources. For instance, many people needed travel agents to tell them which airline offered the best flights for the most affordable prices. It’s like you had to pay double then, both for the ticket price and the travel agent. Nowadays though, with the airline’s websites, one can just browse through the best travel bargains and the click of a button does it all. There are also websites now that tell you the best bargains and help you compare rates from different airlines. Such are Travelocity and Expedia.

Another advantage of the Internet is for the consumer is that it is open all day everyday. No longer do consumers have to wait for stores to open, or hurry to catch a closing shop. One can shop for shoes anytime, even when they are at home or at work. Finally, the Internet offers a wide variety of selection that no supermall can offer. This is because it provides the consumers access to online shops from areas outside their own. This definitely provides diversity and variety of choices, again all in the comfort of your own home.

Vendor Advantages

The online businessmen too find a lot of advantages in eCommerce.

First, it saves them a lot of cost on hiring employees. What perhaps 50 salesmen can pitch, can be done by one well designed and informative website. It saves up on what was supposed to be the salary of the employees. Moreover, the Internet is not only the salesperson; it’s the delivery guy as well. With digital downloads, profit can be obtained automatically without deploying a middleman. The customer can directly purchase from the online vendor and payment transactions can just be arranged. This is rampant in music downloading sites like iTunes or online shops like Amazon.com or eBay. Profit will then double, or might even triple.

eCommerce also levels out the playing field for both big and small businesses. A small home-based company can reach as much a market as the global ones. Businesses don’t have to set up different branches in other places. A good website and good advertising technique will do it. If the vendor does his job right, that is, putting all the information needed in a compelling way, his online business will sure thrive.

What You Need To Know About Ecommerce And The Future

Buying and selling over the Internet is a large part of what makes up ecommerce trade, but it’s only part of the story. This business is actually made up of all “transactions” conducted electronically. This includes exchange of information, online banking, emails and, of course, buying and selling products and services. Since this form of communication has connected the world on a global scale, ecommerce and the future look very bring.

Just within the past few years, business over the Internet has grown at an amazing pace. Many businesses have gone 100% virtual today and it appears that this trend will continue to grow. Although some of this is due to the need for ever sophisticated software and hardware, many retailers are now jumping on the bandwagon as the lower costs of running a business offsets the startup costs and higher cost of postage.

Business-to-business and business-to-customer forms of transactions are also increasing, but it should be remember that it takes time to establish. For example, Amazon was transacting business for 10 years before they began to see a decent profit. For those unfamiliar with this type of business, ecommerce is the sales part of the transaction and includes data exchanges which allow financing and payment for goods and services.

Many transactions include such things as meta-services that allow other forms of commerce to be conducted electronically. Digital content for immediate use and the buying and selling of traditional products and services are also included. For those who order from home over the Internet, they are also part of the ecommerce world. They may be doing online banking in the evening, looking for the best buy on college textbooks, or supplementing their income by selling on eBay. They are the newest members of this world.

Of course, security has always been an issue that companies take seriously. However, there are ways for individuals to protect themselves. One is to ensure that a fully protected payment system is in place before entering credit card information. One of the most common ways is to ensure individual computers used for this purpose utilize a SSL (Secure Sockets Layer). When inputting information on websites, one will be prompted to enter an encryption code which ensures a private link.

Ecommerce and the future look bright as trends continue to expand the use of the Internet for various types of transactions. For those getting into the field they must realize that it often takes years to recoup start-up costs and see the type of profit visualized. For those utilizing the Internet for the purpose of transacting business, security should be at the forefront of everyone’s minds. This type of business offers many more options than land-based businesses do, but it is growing at such a pace that caution must be taken in order to protect those conducting business through this means.