With the rapid development of e-commerce in recent years, online shopping has become one of the most popular Internet applications, especially Chinese netizen. According to Ministry of Commerce of China, transaction value of China e-commerce in 2010 reached 4.5 trillion Yuan, with a 22% growth rate year-on-year. And it is predicted that the transaction value will keep an average annual growth rate over 20%, and reach 12 trillion Yuan in 2015. Another report released by CNNIC shows that Internet users in China have hit 457 million at the end of 2010, and online shopping users hit 161 million.
However, the complaint on online shopping has been increasing due to online fraud or bad credit running, which has caused consumers’ legal interest violated and properties lost. The Internet users’ experience of Internet application has been seriously impacted. On the other hand, we are pleased to find that there are many e-business companies attach great importance to building trust environment for e-commerce, and even some of them make great efforts to cultivate a credit model on their own initiatives. Their creative efforts have played an active role to promote a trust environment development of Internet. The challenges and innovations are paralleling, the question is how we react and what we can do.
This workshop aims to introduce the best practice of e-commerce operating, and share the experiences and lessons learned in the construction of a trust environment. Experts both from global and China Internet community will share their views and best practice from different perspectives. We hope this workshop could be helpful to the stakeholders who are interested in related fields.
With the rapid development of e-commerce in recent years, online shopping has become one of the most popular Internet applications. The trust is the basic factor for doing business, e-business even requires more from it. How to build trust is the main topic.
This workshop discussed the best practice of e-commerce operating, and shared the experiences and lessons learned in the construction of a trust environment. Experts both from global Internet community shared their views and best practice from different perspectives on the panel.
Ms. Jing Pan introduced the status of rapid development of e-commerce applications in China and also pointed out that the industry would need to build up an independent and open credit ratings system.
Mr. Jovan Kurbalija stressed that reputation is essential for any activity including economic activity. Trust requires time to be nurtured and needs to develop it over time over consistency and particularly practice, which is important especially for companies who are acting on the global scale. When referring how to build trust, he said long term education and training were very critical.
Mr. Robert Pepper mentioned that the power of the brand is the growth of the business that many success e‑Commerce companies was because of the building of the brand, as they had built trust through personal experience. Companies should have a huge incentive to build trust and build their own systems for building that trust. Meanwhile, consumer protection agencies in virtually local or bi‑lateral agreements across countries are help to the trust building. Another point is to develop and perfect authentication system, especially to build up the standards and approaches through global standard processes and cooperation.
Mr. Andrew Cushman’s focus is on the threats that exist today and the threats that exist tomorrow that threaten the evolution and the adoption of online or e‑Commerce. Microsoft has a program called collective defense that identifies and it is bringing the public health model to the Internet, which requires international and international and local collaboration to identify and governance.
Mr. Chen Yu gave an overview on the e-payment marketing in China, addressing we have to build trust at different levels with the technology level, the business level and the policy level. Meanwhile, he indicated the social media plays role of a credit reporting tool during the e‑Commerce activity. He also explained the different cost of trust building between the Asian and the West world due to the culture difference.
Finally, Mr. Peter A. Bruck mainly talked about mobile commerce in the relationship to trust and e Commerce in a relationship to trust, by illustrated many winner cases of the World Summit Award.
To better build up trust in e-commerce as well in the whole Internet activities requires multi-participation and joint efforts on different levels such as the technology level, the business level and the policy level. Education, training and industrial self-regulation are the necessary supplement. Mutual understanding and cooperation will be added up this efforts.