The confinement boosted electronic commerce or eCommerce around the world and it is expected to continue growing; however, in countries like ours there are cultural and technological barriers that must be overcome.
Ecuador, as well as many countries, have evolved in terms of digitization. Many companies and professionals have adopted teleworking to develop their work and commercial activities, many others are in a slow process of evolution.
According to the Chamber of Electronic Commerce, in the midst of the pandemic, transactions increased by more than 200%, which by the end of 2020 would cause a turnover of more than $ 2 billion.
Despite this positive outlook, some experts argue that there are currently eCommerce barriers in Ecuador that must be faced to improve the competitiveness of small and medium-sized companies. Here we detail them below:
1. Inner mindset
The resistance that some companies have to migrate to digital, even in times like today where the health emergency established social distancing. Among the reasons they point out that entrepreneurs in our country like to maintain absolute control of their data, be autonomous and not have to rely on third party support.
2. Low bankarization
Another aspect is the low possibilities of online shopping that people have when they have to pay with credit cards or bank transfers, in most cases.
While there are offline payment solutions when the product is delivered.
3. Logistics
Due to the high demand for home deliveries, a problem in logistics is evident; Therefore, companies seek solutions such as omnichannel that offer new ways of serving customers and migrate to micro-deliveries with delivery men; which in some cases increased costs and delivery times.
4. Legislation
Regarding regulations, efforts have been made to control this market in Ecuador, but new rules are needed for eCommerce that are friendly to the consumer and the merchant.
5. Cybersecurity
Data theft, scams and other security risks are the biggest fears for comparators and sellers.
In our country, only 3% of companies have tools that mitigate cyber risks of cloud storage, according to a report by the consulting firm Deloitte. For this reason, when entering eCommerce it is recommended to do it with large platforms and service companies that protect your business.
There seem to be many barriers to overcome for electronic commerce to continue to advance steadily in the country; but they are necessary in the new normal in which post-pandemic society lives.
Source: América Retail