Best Buy Link platform (BBLink) is a program ideal for e-commerce courses as well as technology applications. The electronic commerce is developing quite fast though it comes with challenges that quite several e-commerce sites portray. These are:
1) The conflict of fighting for price and shipping
Normally, online traders fight for prices. A lot of sellers outline the same items on their sites, however, the prices may differ. They are striving to improve their market share by trading the product. Competition for prices specifically hits small electronic-commerce traders, since medium-sized and large competitors can usually offer products at low prices. Considering free shipping, smaller companies will have no chance to compete with the more advanced ones. The established companies always have warehouses that enable them to order products from the nearest facility thus cutting the shipping cost. Additionally, the order reaches the customer in the shortest time possible.
2) Battling against manufacturers and retailers
Most online stores purchase products at wholesale prices from distributors or the manufacturer and later trading them online with retail. Sadly, because of e-commerce’s weak barrier to entry, retailers and product manufacturers begin selling straight to consumers. This may result in a situation whereby your manufacturer can also be a fierce competitor.
3) A challenge of data security
Security matters can cause serious problems. Fraudsters can use various means to get access to private data regarding your client’s contacts, card details and so on. Fully aware of the challenges facing and confronting the course of e-commerce in addition to the current technology devices, BBLink will build a platform.
The following are the 6 Best BBLink’s 6 models for the e-commerce platform.
This can be a website that trades its products to a common buyer who will, in turn, sell them to the last customer. For instance, a wholesaler orders a product from a company’s site and sells the product to the final consumer in his retail shop after receiving the consignment.
In this case, the website will sell its goods right to a consumer. A consumer can check the products displayed on the website and select their favorite product for purchase. Next, the website will notify the business entity via email prompting them to send the goods or products to the consumer.
This whereby a business model assists consumers to trade their products such as cars, residential property, etc., or let a room by advertising their notice on the website. The customer can pay for the service and in some cases for free. Another consumer may choose to purchase the product of the primary consumer by seeing the advertisement or post on the website.
Here, a customer approaches a website displaying various business entities for specific service, The consumer then places an estimation of the amount he/she is willing to spend for the specific service. A business entity that meets the consumer’s demands within the particular budget talks with the consumer and offers its services.
The Business-to-Government (B2G) form is a modification of the Business-to-business model. These kinds of websites are utilized by governments to exchange and trade information with different business systems. Such websites are approved by the government and offer a mechanism to businesses to give an application form to a government.
Governments utilize this type of websites to reach out to business organizations. The B2G websites support tenders, auctions and application submission functions.
Apart from the 6 business models outlined here, Best Buy Link platform (BBLink) also combines blockchain applications and a huge data summary developed into its platform.
The Blockchain in electronic commerce helps the system to:
a. Change Payment Mode
Cryptocurrency has got the required power and is being applied as an option to the conventional currency. As a matter of fact, in a society ruled by bitcoin as well as blockchain-based currencies, the transformation towards virtual money has become apparent. There are clear benefits of employing these currencies in e-commerce activities.
b. Improve supply chain management
The provenance tracing of the products is remarkably essential to assess the expiry dates of these products. The embedded sensors and RFID tags and let the businesses to administer provenance tracing when they are merged with the blockchain technology. You can track the product back to its source, and identify the dates in particular. Using the Blockchain technology, a business can simply monitor their inventory. Indeed, this technology makes it optional for business organizations to spend on other resources to run and observe the inventory. The technology enables you to see the flow of the products in the chain and further gives you an honest visualization of the processes.
c. Make electronic commerce operate more transparent
Blockchain will allow the consumers in the marketplace to notice and understand any changes that take place. Even for a slight modification made on the transaction, the concerned people would be aware of the same. Mistakes are fully managed in the blockchain-based marketplace such that it is little or no conflict between the members of a particular marketplace and everyone gets informed of everything that occurs here.
In any form, security is a major cause of attention for electronic commerce businesses. Generally, the blockchain-based e-commerce systems give security at entire levels including a wallet and data security. The business has data associated with the consumers, which comprise their phone number, address, and other confidential information. Blockchain-based businesses can make sure that there is comprehensive security.
Spawning trustworthy Reviews and Personal Offers
Blockchain aids in ascertaining the reviews and eliminating all the false reviews that can be a matter of attention for your business. These reviews are data kept in several blocks in the stated blockchain technology, and an individual block is distinguished and analyzed independently. Due to this, you can establish a digital map from the reviews. Here, you will not be able to delete the history or change it without allowing others to recognize it. With a lot of ease, Blockchain-based bonuses can be redeemed. You only need to discuss a requirement to make the process more comfortable for the customers. Arguably, the tracking of things like spend or other conditions is conducted simply using Blockchain.
Best Buy Link platform (BBLink) is fit for e-commerce changes and technology applications. A fashionable future and the optimal answer for prospective users.