The unification of the 12 Euro zone countries under one monetary currency, the Euro, has revolutionized business dealings in these countries. This step in monetary aggregation has also further escalated eCommerce in Europe.
The surprising growth of e-commerce within the Euro zone countries has brought about a lot of drastic changes in terms of business transactions and dealings. Both business to customer (B2C) and business to business (B2B) marketing and sales efforts have been readily done through the internet with ease and efficiency. In order for European companies to go along with the competition, more and more companies seek the services of reliable web hosting companies throughout Europe.
What has currency unification got to do with this?
The unification of the European nations under one monetary currency has removed the threat of currency fluctuations so investors can feel more assured of stable currencies and exchange rates in the region. Under the Euro, all 12 Euro zone countries have considerable advantage when it comes to transactions within the European border. Investors and companies need not worry about the losses caused by abrupt monetary fluctuations which are seldom predicted. Thus, the effort and the manpower that have been allotted in managing this currency risk could now be diverted to tasks that may bring in more revenues for the company.
Aside from this, financial transparency is a natural consequence of the Euro unification scheme and this is very desirable from the point of view of businessmen and investors. Plus, companies could also save a valuable amount of capital allotted for currency exchange fees that are commonly done when doing international transactions with countries of different currencies.
Why the Demand in eCommerce?
E-Commerce provides the fastest, most convenient and cheapest mode of international transaction. It therefore comes as no surprise that the unification of most European countries under the same currency has increased both the effectiveness and convenience of e-commerce. Consumers in the European Union no longer have to worry about differing currencies and exchange rate fees when processing transactions over the Internet. The price of a merchandise that they see advertised is what they get, so they’re no longer be hesitant in engaging in e-commerce transactions.
Web Host for e-commerce businesses
With the increased e-commerce activity that the currency unification has induced, businesses now have more incentive to engage in e-commerce. However, they must carefully consider what web hosting company they’ll be using.
European web hosting companies in Europe are typically not adequately equipped to cope with the more rigorous demands of e-commerce transactions. Most of them offer only the most basic services, and e-commerce websites definitely need more than just bandwidth and space. They require excellent support, tailored applications, stringent security, and great efficiency from the web hosting companies.