Luxury e-commerce advantages & disadvantages Essay

Luxury e-commerce advantages & disadvantages - Essay Example Though advancements like e-commerce or e-business has favored to an extent, but there are some drawbacks too, which often gets sidelined by the human setting of the present world. This study will give a critical view of how luxury e-commerce is important and what are the gaps that need to be covered in the modern business system (Okonkwo, 2007). Background As trends changed it brought changes in the human setting, like people got more to the use of e-commerce and e-business. On a similar node, luxury is part of the glimpse where e-commerce brought luxury brands on high human accessibility. There came up luxury e-portals like Net-a-Porter which facilitated buyers on luxury boutique and designer clothing. Net-a-Porter being UK’s top selling online forum stocked 3000 brands at one time of selling, which was all to favor the luxury patrons on the internet (Roberts, 2010). On the earliest luxury facilitated people where it became more than a necessity and something associated with the desires. Luxury was first sought as an idea of a peculiar, but later as fashion industry revolved and brands came up luxury became part of peoples’ lives (Danziger, 2005). The same perception revived on e-commerce where an estimated 95% buyers’ populace was only on the luxury. ... Today consumers not only trace luxury in goods or service, but they also expect luxury in the method of deliverance and service (electronic trade and provision). It was the year 1990 when Amazon gave origin to the concept electronic trade and distribution. Ebay was the second major contributor to e-commerce, a competitor of Amazon which evolved in the same year of e-business (Schneider, 2011). It was the start of electronic based distribution (1995) when AltaVista, Lycos and Yahoo! came more with the luxury brands on their distribution and selling (Schneider, 2011). Later on MSN and Hermes also promoted luxury on the online buying and selling, as they were on a great response from luxury excavators (Okonkwo, 2010). Apart from all the persistence of luxury on e-commerce and trade has also aware the modern business specialists (Schneider, 2011). They have understood that luxury is a core preference of the buyers, where e-commerce is the right forum to distribute it. This is how luxury is widespread to all parts of the business system, from buyers to sellers and from marketers to branders respectively (Danziger, 2005). Definition to E-Commerce and E-Business With the plethora of globalization and internationalization, small and large business firms have identified e-commerce as a forum to exchange (Saunter, 2012). The core activities of a business like supply, distribution, promotion and marketing of goods have become achievable on the e-commerce and e-business. E-commerce is a term that indicates electronic business commerce, where businesses are sold, expanded and developed on the basis of large consumer presence on the internet (Dave, 2008). E-commerce is a combination of two things,