7 Undeniable Risks you need to pay heed when Launching your eCommerce Business in 2018! (Infographics)
Launching your e-commerce business is no easy street. Especially with the exponentially increasing rate of cybersecurity issues. Cyber crimes are estimated to amount to a damage worth $6 trillion annually by 2021. Coupled with a number of other factors like system reliability concerns, privacy issues, customer disputes, fraudulent activities (such as credit card fraud), copyright violation, warehousing and logistics issues, starting your own e-commerce business seems to be an uphill and risky venture.
Are you planning to start your own eCommerce business? This infographic will help you get aware of the different eCommerce risks that you might have to face along the way.
E-commerce online security
Online security threats in any form can harm your e-commerce initiatives. These can be any of the following:
- Phishing attacks
E-commerce Intellectual Property
Violation of intellectual property or copyright issues might arise when your website images, logos, music, videos or even your products are replicated.
Customer disputes and chargebacks
Customer disputes may arise in any of the following forms:
- A customer not receiving his order
- Credit card charged twice
- Customer receiving product that does not match the online description
Refunds need to be done in certain extreme cases and you should be prepared for that.
Product warehousing and logistics
This may entail any or all of the following:
- Running out stock while orders are still being placed
- Delayed shipment
- Parcel delivered to the wrong recipient
Customer service issues
This may arise from a poor-functioning customer support system, which fails to address customer queries on time.
Not including proper sales tax or not paying proper import taxes may lead to taxation issues.
E-commerce website SEO and marketing
Your website traffic may sink overnight if Google or any other search engine abruptly changes its algorithm.
Paying close attention to the aforementioned risks and finding means to mitigate them may pave your path to success as an e-commerce marketer.
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