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Nowadays, we are living in a different age, the age of new economy which is based on the information technology. As I learned from this course, this new technique could be very profitable to many industries for different reasons. Electronic trading definitely will help traders to save time and effort. Businessmen ought not to waste time because time is money, and this idea works perfectly with the online trading rather than the traditional trading. Also, traders can be provided with a variety of choices in a certain market. Indeed, taking Business-to-Business (Wholesale Online Trading) into account is very important, as I find it very profitable for buyers and sellers respectively. As I mentioned before, we are living in a different era, an era that requires new and different methods to implement the ultimate success and profit. In fact, traders could always save money by creating more online competitions between suppliers and finding better prices and higher qualities. I can’t say that online trading is way difficult to be adapted in many markets; on the contrary, I see many industries already adapt this method of trading such as the US market of propane (the study case in this article). In general, different markets have different ways of trading to achieve their goals which is basically meeting with their ultimate profit. But, it is not only different markets that could impact the trading way, but also different locations on the map.
Since wholesale online trading could be universal too, I think generalizing this concept to all markets all over the world is not fair. Traders in the Middle East (where I came from) still rely on the traditional methods in their transactions. The traditional ways of trading in the Middle East are basically based on emotional issues such as trust among traders and considering their reputations in the market. They don’t trust the anonymous way of trading, which is the online trading without knowing who you are dealing with, for fraud possibilities. Businessmen in the Middle East (not all) are not ready to adopt this kind of trading; they need more awareness of the profit that they can make. First, traders have to trust online trading and believe that it is a %100 safe. Second, they have to work on reducing or eliminating many insignificant factors such as emotional involvement in the business world. Even though, I believe one day B2B online trading will be widely spread, and, it might be the only trading method in many markets all over the world.