E-commerce or electronic commerce refers to a modern-day business transactions and these transactions are happened via electronic means, such as the technologies of internet, computers, TV, telephones, etc. In fact, the internet has a large number of active users across the globe and this number is growing with rapid pace, and due to this the belief of a majority of the people is that e-commerce will soon be the key mode to successfully complete all business transactions. Indeed, e-commerce has really affected the businesses and purchasers at the same time. In this article, I am going to discuss key benefits of e-commerce.
The benefits of e-commerce can be broadly grouped into the following main categories:
- Benefits to Business Organizations or Retailers
- Benefits to End-Users or Consumers
- Benefits to Society as a whole
Benefits to Business Organizations
By using e-commerce, business organization, whether operating nationally or internationally, are fully capable of expanding their business market to not only national markets but also global markets and they do not need to make a substantial capital investment in the business. If an organization uses e-commerce for their business transactions, they can really easily locate more target audiences, best suppliers and appropriate business partners all over the world.
E-Commerce has the potential to assist a business organization to cut the cost of operations including process, distribution, and management of all paper-based information by digitalizing the information. It suggests that e-commerce plays a pivotal role in reducing paperwork.
E-commerce also helps in developing and improving the company’s brand image and reputation, and hence the company is provided more customers. It also assists a business organization to make customer’s experience outstanding by providing excellent customer services. It means that e-commerce has the potential to assist in simplifying all the business operations and processes while making them faster and efficient.
For business organizations, e-commerce helps in increasing the level of productivity. To make is possible, it greatly supports “pull” type supply management. In this form of supply management, business operations, and process begin when a customer requests something and it employs just-in-time manufacturing approach.
Benefits to Customers
Round the clock customer support service is one of the benefits of e-commerce to customers. The customer has the opportunity to do transactions for the product or service, or even inquiry about any them provided by an organization any time and from anywhere else. It means that company’s use e-commerce approach provide 24 hours of each seven days of a week service. Moreover, more options are provided to users by e-commerce application that makes the delivery process fast. E-commerce application also provides the user with options to easily compare and select the economical and far better option. Further, a customer can easily submit his/her review comments related to a product or service while seeing what other people are buying or seeing others’ review comments before buying any product or service. It means that e-commerce provides users with an option of virtual auctions.
Readily available information is one of the core benefits of e-commerce. A customer of an e-commerce company can see all the pertinent detailed information even within no time instead of waiting for days and even weeks sometimes.
It is also a reality that e-commerce has really increased the level of competition among the business organizations and consequently organizations provide customers with amazing discount offers.
Benefits to Society
There are many benefits of e-commerce to society as a whole. Customers do not need to physically go out for shopping and for this very reason you can see low traffic on roads. So, this approach also helps in reducing air pollution. E-commerce also assists to cut products’ cost and it means that less affluent people within our society can easily afford the products which are expensive in open markets.
Another benefit of e-commerce to the entire society is that it has greatly enabled access to products and services to rural parts of your country. It is also helpful to the government because the government can deliver public services very easily, such as education, medical, social services, etc., at very minimal cost and in a more improved way.
Jany Watson is a Project Manager in UK Based writing firm which provides Buy Essay Online to the students. Jany Watson completed her master in business administration and writing her experience from four years.