E-Commerce: A Quick Introduction
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. These computers usually link up to form a business network. In other words, e-commerce is the buying and selling of products or service by the use of internet. There are many online businesses that have been established nowadays since the internet provides a wide market for their goods. 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. Using a single click on the mouse, one can sell multiple items and you can access any clients or customers from a different geographical position.
Selling goods online usually incurs fewer costs as compared to those businesses that have set up their own retail outlets and stores. There are a lot of documents that are to be drafted manually when you have a physical shop such as receipts and many more documents that make the work tiresome. In e-commerce, these costs are eliminated as the process takes place virtually without any human interaction. The purchases are made effectively and deliveries as well. This creates convenience for both the buyer as well as the seller as the process is made much faster and easier as well. E-commerce transactions are usually very accurate as there minimal errors incurred in the process.
E-commerce is a very cheap way of doing your business as compared to having a physical store. Rent and other costs such as electricity and maintenance cost are avoided once you open up an online shop. On the other hand, since business is done online, one is not required to have a store which eliminates extra costs that would otherwise have been incurred. E-commerce helps by generating a lot of sales for those people who supply niche products since you have access to a wider market and customers.
When a buyer wants to buy a product or request for a certain service, they are able to visit the business’ website where they can gain access to various images and information regarding 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.