LearnX Community Gathering (Session 01-23)

Digital Cafe@Harbourfront
Discussion: Fundamentals of Ecommerce
Date: 12th Aug 2023 (Saturday)
Time: 2PM to 4.30PM
Venue: library@harbourfront (Vivo City)
Facilitator: Hewlee Ho
Registration starts around 3 weeks before event date via https://go.gov.sg/toyl
Admission: Free (NLB membership required)

What is e-commerce?
E-commerce is one of the groups of FinTech. It is a Tech Startup model communicating almost all business decisions through the Internet.

The customer is aware of your products or services through the Internet (marketing).

Once a sale is confirmed, i.e. payment made online, you activate your delivery department to deliver the product/service on agreed date/time.

Types of Business
– Product and/or Service
– Main Distributor
– Self-import
– Through online platform
– Retail, home service, and/or online

Decide what you want to do
1) Product only
2) Service only
3) Product & Service

Products only
– How many players already in the market?
– Target group(s) that may buy your products
– Can you do better than the existing players and still make a comfortable profit?
– What make you think you are better than the existing players?

Example of a business model
– Selling new bicycles and bicycle parts.
– Servicing all popular brands of bicycles
– Mix & Match bicycle parts (customised)
– Have a web site for marketing and networking
– Have an Internet Interest Group on cycling (be the Team Leader) ~ networking

Customer’s Experience Dinning in a Restaurant
1. Scan QR code (Menu)
2. Order food items
3. Present table number to cashier (for payment)
4. Amount confirmed, use smartphone to scan QR code for payment
5. Payment received, receipt printed.

Customer’s Experience buying a product online
1. Decide on an online platform for the product
2. Go to a showroom to view product (if possible)
3. Accept offer and pay online (trusting seller)
4. Specify date/time of delivery
5. Product delivered within specified date/time.

Tech Startup (online business)
1) Register with ACRA
2) Open business bank account
3) Product or Service or both
4) Sourcing including funding
5) Pricing, Profit, Payment Methods
6) Development of website (marketing)
7) Human Resources
8) Delivery & Storage
9) Logistics

Discussion Topics:

1) As an online Customer, what are your expectations on an online web company?

2) To safeguard being scammed in online transactions, how do you assess any online web company?