Blockchain eCommerce Platform Development Services
Tap into the decentralized ecosystem for your eCommerce business to optimize transactions, customer experience, communication, and operational efficiency.
Challenges in the Traditional eCommerce Industry
Traditional eCommerce business models have intermediaries who charge hefty fees in the selling process. For instance, the platforms integrate payment service providers for which sellers and buyers have to pay processing fees to complete transactions.
Security of consumer data is a key concern of every retailer. It builds trust and ensures that the user's personal information is safe and secure from any unauthorized access. eCommerce platforms lack suitable security measures that ultimately lead to potential data breaches.
Selling process of eCommerce is very complex as it involves a range of multi-faceted operations often dependent on each other. For instance, supply chain, inventory management, logistics, payments, etc. involve several intermediaries that make processes more complicated.
eCommerce companies are facing critical issues when it comes to substandard or fake products. Wrong selection of vendors and difficulty in implementation of regulations leads to higher product returns, customer dissatisfaction, and loss of very potential sales.
There’s a lack of trust and transparency in centralized payment systems. Moreover, there is no proper record of the provenance of goods, receipts, transactions, tax documents, freight invoices, trade documentation, proofs of delivery, etc. to track properly.
Traditional eCommerce processes often face out-of-stock situations. There are no products/goods on backorder which lead to poor supply chain management, customer dissatisfaction, and loss of sales. Additionally, lack of traceability affects inventory management.