The Significance of E-Commerce
Electric Commerce, better known as e-commerce involves carrying out of business activities online through the internet by the use of mobile phones, computers and other digital gadgets. When the computers link up, they form a business network over which the transactions can be carried out. In other words, e-commerce is the buying and selling of products or service by the use of internet. Since the internet provides a wider market for their goods and services, most businesses are going online. As compared to setting up of physical stores, time and distance does not pose any issue. One is able to conduct their business normally at any point of the day as internet is always available. Since location is irrelevant, a customer from any part of the world can order any goods or services simply by the mere click of the mouse.
Selling goods online usually incurs fewer costs as compared to those businesses that have set up their own retail outlets and stores. This is because traditionally, one has to draft a lot of documents to make the orders and deliver them such as receipts and many more. However in e-commerce, these costs are usually done away with as everyone is done online, from ordering to the processing of orders without any human interaction. In e-commerce, there is an effective making of orders for goods or services as well as delivery. Since the transactions conducted over the internet are fast and reliable, both the buyers as well as sellers find it convenient. The rates of accuracy during e-commerce are heightened as minimal errors are made in the process.
It is cheaper for one to have their business online as compared to opening a physical store. Rent and other costs such as electricity and maintenance cost are avoided once you open up an online shop. Extra costs that are incurred by store owners are eliminated when one takes their store online. Those people who have online businesses that deal with niche products have a lot of sales since they have a wide customer base due to the many clients they have access to.
When a buyer is in need of a certain product, they simply visit the seller’s website where there are images of the products they deal with as well as information on the products. There are plenty of products that are made available on the internet from which buyers can choose. A seller is able to access a wider market as many people nowadays are using social media from all parts of the world.
An online business does not use a lot of time when it comes to delivery. As compared to physical stores, those individuals who have online stores do not incur labor costs as they do not need any manpower.