AN EMPIRICAL STUDY ON e-COMMERCE APPLICATIONS GROWTH OPPORTUNITIES AND BUSINESS PROSPECTS

e-Commerce applications is an issue that is gaining increasing importance with the advancing maturity of such systems. During the first two decades of e-Commerce, most business models were based on the assumption that e-Commerce was a substitute for brick-and mortar retail. Consumers are using online tools to compare pricing, research functionality, and secure discounts such as groupon, only to make the final purchase in-store. There is no question that e-Commerce is here to stay as an integral component to a successful retail sales strategy. However, we are in a highly transformative time as changing customer expectations, commerce capabilities and technology evolve rapidly. Tomorrow, we will see emerging customer experiences such as in-car navigation, home appliances and many other items connected to the web open up future commerce opportunities. Many e-commerce firms which found a footing in regional or domestic geographies are now strongly aware of intense competition in their maturing sectors and scrabble to develop their brand abroad in under exploited markets. E-commerce companies of all sizes analyze existing and future markets, and strategically anticipate how existing e-commerce solutions will grow with business ambitions so there is built-in functionality flexibility, and scalability. Mobile devices have become integrated in e-commerce and in consumers' shopping habits. Volumes in mobile commerce are still limited, but they will increase rapidly as the behaviour spreads to new customer segments. Shops can take advantage of these opportunities, but it takes a lot to build a successful mobile sales channel. As the e-Commerce marketplace continues to evolve, it is critical for merchants to make the right choices in technology and operational capabilities. This paper looks at the latest developments and key elements that are important to any e-Commerce solution, including payments, security and marketing.