This report for West London Watches should be aware of the legislation that is required to setup and commerce and could use Amazon as an example and how to base their site and drawbacks of introducing E-Commerce and advantages to West London Watches and the implication to your business and how you prevent it from happening
Benefits
Global Marketplace
The Pros of introducing E-Commerce is the commercial goods will be available for consumers international. This will rise in the number of customers and as well revenue will be increased. This means West London Watches could expand if a large number buy their watches.
As the business grows and expand, it will have more competition from other businesses. For example, a business such as West London Watches it could be leading company in one country but it will be
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Setting up a physical store involves buying or renting a place or location, purchasing stock, hiring staff and paying for utility costs this can add up and be expensive for West London Watches
Pricing Opportunities Differences
Generally, there is a price between the traditional stores and online stores. Such as online discounts and prices will encourage shoppers to buy watches from your site. If West London Watches go online it is cheaper than a physical store no need to pay for renting, and utility bills and employing staff. Online stores save money from these aspects of the organisation and passing the discounted prices for the customer and are likely to buy inexpensive watches and saving money from other Watch sellers.
Fluid Pricing
Online stores have an advantage of fluid pricing. This means increasing or decreasing prices depending on the circumstances. It is more difficult to increase or decrease prices in physical stores. For example, when specific item is sold rapidly and few are available. Drawbacks
Buyer