There is a very high overhead cost in offline businesses. The retailers cannot afford to sell the products at a low cost because all recurring expenses are very high. Most of the things in Ecommerce are automatic. Costs incurred in everything from inventory, customer details, payment details to product selection and management of customers’ interests are lower than traditional commerce expenses. The main reason for the growth of internet users and social media is E-commerce.
From a merchant perspective if he needs to expand the business to reach more people in the offline method he has to do more physical effort which increases the cost. Whereas with an eCommerce business, a single investment in one website or mobile application can cater to multiple markets.
All advertisements like solid prints, news and televisions are expensive and don’t give the vendor clear performance. Online Ads proved to be effective and cost less than traditional Ads. Its easier to monitor as a detailed optimization.
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Technology is evolving so fast that, what was there a year ago almost seems outdated in couple of years.
5G is soon going to get rolled out across major cities and countries across globe. The amount of speed and volume of data which can be transferred through the network is going to increase drastically. As much as it speeds up existing networks and websites access it will open up doors for another set of devices and communication protocols which is enabled by the new spectrum of data transfer.
Connected Homes and Internet of Things does demand a higher bandwidth and speed in-terms of network performance, the opportunities and the Pitfalls at the same time are not few. When any technology takes its shapes business can achieve value in multiple segments of approach
1 – Improving existing capabilities and services in terms of speed, quality, accuracy etc
2 – Providing facilities and services which were not doable before but do able with the use of new technologies
3 – Protecting or providing services against the Pitfalls of the technology in various methods.
Any approach thus to pursue needs a reasonably clear understanding of the technology as well as predicted market demands. Those who are already in business might be able to find those segments of opportunity more easily than those who are looking for an entry.
Since, high data and performance are going to be the norm, our handheld mobile phones and applications will benefit from the higher capabilities it could achieve. Many surveys and predictions says that Mobile Phones will be able to do over 80% of the tasks what we are doing using a PC and other.
Connected homes enables interconnection and operability of various devices, services and apps, ranging from communications and entertainment to healthcare, security and home automation. This is one segment where we can expect a lot of devices to be introduced.
Similarly, is the wide opening in IOT sector – Internet of things is that system of interrelated computing equipment, mechanical and digital object, objects, humans, or animals are provided with unique id and having the ability to do data transfers without direct human interaction.
Mobile will play a critical role in how humans are going to interact with the rest of machines and devices. Since everyone is going to have at least one with them where ever he or she is, it will get used to most or almost all of the machine interactions humans are doing. Being precautions optimistic in estimating and servicing the market requirements can provide huge or niche business opportunities across the globe. Not to mention the opportunities on global and regional scales.
Emstell is a technology consulting company specializing in Mobile centric applications and services delivery enabling in Middle East, UK and North America. Contact us to discuss on any suitable projects or consultations you are looking for.