E-commerce or electronic commerce refers to modern-day business transactions, and these transactions happen via electronic means, such as the technologies of the internet, computers, TV, telephones, etc. The internet has a large number of active users across the globe, and this number is growing at a rapid pace, and due to this, a majority of people believe that e-commerce will soon be the key mode to complete all business transactions. Indeed, e-commerce has affected businesses and purchasers at the same time. In this article, I will discuss the 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 eCommerce, business organizations, whether operating nationally or internationally, are fully capable of expanding their business market to national markets and global markets. 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 easily locate more target audiences, best suppliers, and appropriate business partners worldwide.
E-Commerce has the potential to assist a business organization in cutting the cost of operations, including process, distribution, and management of all paper-based information by digitalizing the info. It suggests that e-commerce plays a pivotal role in reducing paperwork.
E-commerce also helps develop and improve the company’s brand image and reputation, and hence the company is provided more customers. It also assists a business organization in making the customer’s experience outstanding by delivering excellent customer service. Finally, it means that e-commerce can help 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. It dramatically supports “pull” type supply management to make it possible. In this form of supply management, business operations and processes begin when a customer requests something, and it employs a 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 can do transactions for the product or service or even inquire about any them provided by an organization any time and from anywhere else. It means that the company’s e-commerce approach offers 24 hours of each seven days of week service. Moreover, more options to users by e-commerce applications make 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 quickly submit their review comments related to a product or service while seeing what other people are buying or others’ review comments before purchasing any product or service. Finally, 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 increased competition among 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 go out shopping physically, 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 in cutting products’ costs, and it means that less affluent people within our society can easily afford the expensive products in open markets.
Another benefit of e-commerce to society is that it has dramatically enabled access to products and services to rural parts of your country. It is also helpful to the government because it can deliver public services very easily, such as education, medical, social services, etc., at a 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 students. Jany Watson completed her master’s in business administration and wrote her four-year experience.