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If we talk about a successful business, eCommerce sites always play an important role. Popularity of eCommerce sites is very clear as we are living in a digital era, where most of the task done via online with less human efforts. It has been sure that online stores are rapidly growing in the B2C area. At the same time, internet selling is also booming. Let’s discuss the issues, you will come across while developing an online store.

Lack of Interaction with Developers

Lack of interaction with developers is a big issue; hence, the complete website structure should be made under client and different business domains guidance. The experts should be capable of finalizing the development that can generate amazing layouts.

Development Uniqueness

As an experienced eCommerce developer, you need to make sure the uniqueness of eCommerce store and not being copied and purely different. Due to have same multiple products, the system generates multiple URL’s for the same products. You need to take care about the multiples URL during development.

Research & Analysis

Research and development is like a map that can help you to develop the best eCommerce site. eCommerce store developers spend less time on research. The issue is that they have limited time. But once you have done research properly, it will help to develop easily. For this, it is important to know all aspects before developing.

Changes in Requirements

You get part way via a new eCommerce Development site and realize the needs unnoticed some difficult feature you really need, or didn’t stipulate clearly sufficient something about the cause data. Now all work comes shrieking to a halt as the developer requires to renegotiate the agreement, add a change order.

Lack of Integration

Customer support system, dispatch system, order management system and order tracking system, etc. are applications that can streamline the knowledge of the customer across the purchasing journey. But if these systems are dissimilar it could ruin client experience.

Lack of Verification Procedures

Once a purchaser signs up in an eCommerce store, online shop is ignorant about the client except the data he/she entered. The integrity of the client is questionable. This intensifies when the client issues a Cash on delivery purchase because the trade is insecure whether the buyer is genuine or not.

Selecting the Right eCommerce Developers

All eCommerce Development Services are not formed equal. Currently, almost anyone can develop an online store and call themselves an eCommerce developers. But having the data to do it appropriately, on time, making search engines like your online store, and not estimate you more time and money advanced is a mishmash of art and science.

An experienced eCommerce Development Company will help you to develop hassle-free development services. You can go online and search an experienced firm as companies are listed over there and you can choose as per your business needs. An online business presence can help you to increase ROI.

Although there are a series of e-commerce platforms readily available today, choosing one among the lot requires utmost caution and is definitely an extremely challenging as well as time-consuming endeavor. Well, instead of feeling helpless and spending money on professional help, business owners must buy some time and go through the following write-up, where I have jotted down certain essential tips to make the said scenario much easy.

• Every modern-day entrepreneur wishes to get more traffic, conversions, and sales, all of which are possible through business expansion. It is necessary to opt for an e-commerce platform that has the potential to grow with an organization and successfully meet tests and trials that crop up in the way.

• When deciding upon a platform, make sure to take the budget into account. While some of the options have exceptional features, a few could be purchased at an excessively low-cost. Well, entrepreneurs need to conduct a comprehensive research and find out a perfect amalgamation of quality as well as affordability.

• One should always try choosing solutions, whose outlook could be altered by incorporating amazing designing components. This is because apart from being functional, a digital store must have an alluring appearance and only can then it reach out to a larger segment of the population.

• One of the most significant factors to keep in mind is user experience. E-commerce is an exceptionally competitive arena and business owners could only make success if they cater to the varying needs and expectations of modern-day customers, helping them to shop in a seamless way. Thus, look out for platforms that could engage consumers for prolonged periods and convince them to return.

• Selling products and services online is a tricky business and one can meet prosperity only through a few necessary tools. E-commerce platforms with a series of best features like backend management perspective, behavioral discounts, and suggested products are most surely increasing on demand.

• It does not matter if you are an expert or amateur, a solution must give the necessary help to one and all. Prior to deciding, do check if the platform has support options like live chat, online documentation, forums, etc.

• Now the last aspect that one must consider is safety quotient. The solution that business owners are opting for must provide utmost security especially in the form of keeping customer details encrypted. Checking out the credentials and registration by PCI or Payment Card Industry are major things to do.

Now that all my readers are aware of the essential tips, feel free to keep them in mind while choosing an e-commerce platform.

This startling figure comes from a recent review of the financial advice offered from the big four banks by the Australian Securities and Investment Commission (ASIC).

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Why the banks integrated financial advice model is flawed

It’s hard to believe the banks can keep a straight face and say they can abide by the duty for advisers to act absolutely in the best interests of a client.

Under the integrated financial advice model, there are layers of different fees including adviser fees, platform fees and investment management fees adding up to 2.5-3.5%

The typical breakdown of fees is usually as follows: an adviser charge of 0.8% to 1.1%, a platform fee of between 0.4% and 0.8%, and a managed fund fee of between 0.7% and 2.1%. These fees are not only opaque, but are sufficiently high to limit the ability of the client to quickly earn real rates of return.

Layers of fees placed into the business model used by the banks means there is not necessarily an incentive for the financial advice arm to make a profit, because the profits can be made in the upstream parts of the supply chain through the banks promoting their own products.

This business model, however, is flawed, and cannot survive in a world where people are demanding greater accountability for their investments, increased transparency in relation to fees and increased control over their investments.

It is noteworthy that the truly independent financial advisory firms in Australia that offer separately managed accounts have done everything in their power to avoid using managed funds and keep fee’s competitive.

The banks have refused to admit their integrated approach to advice is fatally flawed. When the Australian Financial Review approached the Financial Services Council (FSC), a peak body that represents the ‘for-profit’ wealth managers, for a defence if the layered fee arrangements, a spokesman said no generalisations could be made.

There are fundamental flaws in the advice model, and it will be interesting to see what the upcoming royal commission into banking will do to change some of the contentious issues surround integrated financial advice.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

Throughout, history, we have experienced, a variety of economic conditions, and circumstances, including, recession, inflation, and somewhere, in – between! For a few years, we experienced, very – low inflation, largely, caused by a variety of conditions, world – wide, and largely, disrupted – by, the ramifications, and impacts, created and caused, by this horrific pandemic! Currently, we seem to be experiencing, a serious amount of inflation, created, by many factors, including, but, not, limited – to: post – pandemic ramifications; Supply and Demand issues, caused, to a large – degree, by, supply – chain, issues; maintaining, unrealistically – low, prolonged period of near – record – low, interest rates, etc. With, that in mind, this article will attempt to, briefly, examine, consider, review, and discuss, 6 potential dangers, from prolonged periods of inflation, and why, it is important to know, and understand, options and alternatives, to attempt to choose, the best – path – forward!

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

Although, we hear, a lot of opinions, about, interest rates, and their trends, and impacts, very few people seem to understand, the significance, and importance/ relevance, of these rates, in several areas of our lives! After, many decades of involvement, in political campaigns, leadership, leadership training/ planning, real estate, financial sales and consulting, etc, I strongly believed, one benefits, by understanding, more about these, and how they affect, many things, in our lives! Whether, related to personal, organizational, and/ or, public finance/ spending, home ownership and related costs, credit – related issues, business matters, stock and bond pricing, etc, interest rates, truly, significantly, matter! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 of these areas, and how the cost – of – money, makes a significant difference.

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!