“Do you know, if a man does not know to do online transactions on the internet, will be treated as a man of the stone age!” Yes. It is 100% true! Because that much of influence the internet has in every human’s life! The internet has improved the lifestyle of every people around the world.
E-Commerce which refers to every commercial transaction done online has a big role in every day to day activities of people. The advantages of E-Commerce are countless. The advantages of E-Commerce can be classified in the views of the business, consumers & society.
E-Commerce Advantages to Companies Business:
E-Commerce is more advantageous in every aspect of business such as business expansion, reducing the production cost as well as the store set up cost, better customer support, giving the global reach to the brand, low cost marketing& advertisements, minimizing the paper works, ensuring safe & fast shipping, easy finding of resources, and also avoiding of the human errors during the business transactions.
1. Business Expansion:
E-Commerce platform breaks the geographical boundaries and lets the business to have a wide range of potential customers globally. With the help of demographic data and other surveys, the business can target the right customers at the right time with the right products.
2. Low-cost marketing & Advertisement:
In E-Commerce, by promoting the brand in the social media and other web-related mediums, makes the marketing & advertisement cost very low.
3. Improves customer satisfaction & support:
With the E-Commerce platform, the 24×7 availability of online business, lets the customer buy products online – at any time, from anywhere, and with easy mode of payments. It, in turn, gives better customer satisfaction and lets the business to give wonderful customer support with quick responses to the inquiries of the customer 24 x7.
By automating the business, human errors are avoided. by making the personalized shopping experience to every customer, will also maintain good rapport with the customers and improves the customer retentions.
4. Faster measuring of Business scale:
E-Commerce provides the facility to calculate the volume of business and the revenue easily and quickly.
5. Ability to deal with big orders:
E-Commerce makes the business able to process a big volume of business.
E-Commerce Advantages to Consumers:
E-Commerce is more advantageous in all aspects of the consumer also. The ex – ordinary convenience in shopping, product Comparisions, best quality products & services at low prices, availability of convenient payment & shipping modes and easy import of global brand at his doorsteps and many can be achieved by the consumer of internet world by E-Commerce!
The E-Commerce, by its 24×7 availability, a consumer can buy product or services at his convenience.
The business websites exhibit all its product details with prices readily available online, the consumer does not need to visit the stores to compare the prices and find out the products with the desired quality and price.
3.Easy Access of best products:
E-Commerce websites provide the availability of products and services online. So, consumer need not wait to get the relevant details or information about the products. He can access all details within a second by one click.
For example, if a consumer wants to book a marriage hall, he does not need to roam around the city to find the hall with desired capacity, price, and date. He can simply go into the E-Commerce sites and find the marriage hall, compare the rents, check the availability, and book in advance by online payment.
4.Getting the best prices for quality products:
As E-Commerce breaks the geographical boundaries, the competition among the companies of global market increases and it makes the consumer get competitive and best prices for quality products! .
E-Commerce advantages in the aspects of social welfare:
Though E-Commerce meant for commercial activities done online, it indirectly and directly gives more advantages to social welfare also.
1.Reducing traffic & Pollutions:
As consumers prefer online shopping from his home or workplace, he avoids traveling to the shops. So that the road traffic and the pollutions –especially at weekends are highly reduced! The consumption of fuel is also reduced.
2.Opportunities for rural consumers:
E-Commerce provides many opportunities to consumers from rural & remote areas to get access to the products and services which are not available for them so far.
The quick reach of government schemes and benefits to the citizens:
The Government departments those too utilize the E-Commerce, to make the quick reach of their schemes and benefit plans to the entire country.
E-Commerce makes many employment opportunities too. An employer can post his requirements of resources online and the job seeker can post his resume online from any place around the world. They can achieve their desires.
2.Accelerate Economic growth:
In E-Commerce, as the business is done with global consumers, it will increase the revenue of the business as well as accelerate the economic development of the country. The government has also many chances to improve its tourism and get foreign investors for the developments of industries through E-Commerce.