Success Factors in E-Commerce

Such factors include:

Sufficient work will be done in market research and analysis. E-commerce is not exempted from good business planning and the fundamental laws of supply and demand. Business failure is as much as a reality in e-commerce as in any other form of business.

Good management teams are armed with sound information technology strategy. A company's IT strategies should be a part of the business re-design process.

Providing an easy and secured way to customers to effect transactions. Credit cards are the most popular means of sending payments on the Internet, by accounting for 90% of online purchases. In the past age, card numbers were transferred securely between the customer and merchant through independent payment gateways.

Providing reliability and security.

Providing a 360-degree view of the customer relationship.

Engineering of an electronic in which one focuses on a "limited" number of core competencies -- the opposite of a one-stop shop.

Operating on the cutting edge of technology and staying there as technology changes.

Setting up an organization for sufficient alertness and agility to respond quickly to any changes in the economic, social, and physical environment.

Providing an attractive website.

Providing complete understanding of the products or services offered in website.

Generally, the e-commerce merchant must also perform such mundane tasks as being truthful about its product and its availability, shipping reliably, and handling complaints promptly and effectively. A unique property of the Internet environment is that individual customers have to access to far more information about the seller when they would find in a brick-and-mortar situation.