Drawbacks of Online Market

We took at look at the advantages of using online market for activities of business and commerce including global sourcing and multinational purchasing. But it is not a bed of roses everywhere and there exist several drawbacks of online market as well in global sourcing, multinational purchasing and similar activities. In this article we will take a brief look at these drawbacks of the online market which could be detrimental to activities like global sourcing and multinational purchasing.

One of the biggest drawbacks on online market for selling goods or services, global sourcing or multinational purchasing is that there is a cold region of cyberspace separating both parties. The word cold wall here refers to the fact that it is opposite in nature to the warmth and charm which a traditional trade communication can carry because of personal touch which is absent in activities of sale/purchase, global sourcing or multinational purchasing carried out using online market. It again depends on the nature of the product or service to be delivered and the nature of the individuals concerned with the deal and there can be not hard and fast rule regarding the same. Some people might prefer anonymous dealings due to some reason and online market can be best for such purposes whether it is global sourcing, multinational marketing etc. of course provided that the dealings are within the legal framework of the concerned regions.

This leads us to the second disadvantages of using online market for activities like global sourcing, multinational purchasing involved transactions between two or more countries. This means that different rules and regulations might exist in these regions regarding sale/purchase, global sourcing, multinational purchasing and other forms of online market transactions. It is quite likely that some activity which is legal in one country might be prohibited or banned in another. Using online market for carrying out such a transaction which could be import/export, global sourcing, multinational purchasing and so forth, might result in breaking certain regulations of one or both of these regions. Of course the users may not break these rules deliberately; nevertheless the penalty would be the same even if the law is broken unknowingly. Therefore care should be taken whenever online market is used for carrying out business processes or activities including those such as global sourcing, multinational purchasing, import/export or other B2B related transactions. Only then can online market become a safe haven for transactions related to global sourcing and multinational purchasing for all the concerned parties.

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