E-commerce is basically the act of selling or buying goods over the Internet or on online commercial services. The concept of e-commerce emerged from the traditional brick and mortar retail business. This system involves the movement of customer information from a seller to a buyer in an electronic format. E-commerce websites deal with the movement of the physical goods as well as the facilitation of trade between buyers and sellers. These websites are popularly known as web stores.
The advent of E-commerce has resulted in the flourishing of countless small enterprises that previously used to conduct their business only through the traditional means. There are numerous advantages associated with e-commerce that makes it superior to the traditional method of business. Convenience is one such advantage that comes with e-commerce, which makes it the preferable option over the brick and mortar stores. Most of the E-commerce websites enables you to browse and buy goods online from any part of the world.
Another advantage of E-commerce is that it involves a minimal level of service charge as compared to the cost involved in the traditional manner of conducting business. E-commerce is basically made up of electronic data interchange wherein goods are transacted between the buyers and sellers across the Internet and the Mobile devices. Almost all types of E-commerce can be conducted at zero cost. This implies that any E-commerce transaction can be made without incurring any expenditure whatsoever.
E-commerce facilitates easy accessibility of goods and services to the consumers. This can be attributed to the fact that E-commerce websites are integrated with the Internet and Mobile connections. Through this process, customers can access any type of goods they want. This has made E-commerce quite popular among the buyers. E-commerce also helps in saving a great deal of time for the consumers as the transactions can be completed as per their convenience.
With the help of Electronic data interchange, consumers can easily inspect the various types of goods available in the market. With this feature, buyers can carry out proper research regarding the various goods offered by the company concerned. This has made the e-commerce quite popular among the consumers.
The E-commerce sector has seen a rise in the past few years due to a number of factors. One of the main factors that led to the development of the e-commerce sector was the growth of the internet across the world. With the development of the internet, it became quite easier for the consumers to conduct a study regarding the different products available in the market and place an order through the online mode of commerce.
Further, the use of electronic commerce has helped businesses in reducing costs involved in the business transactions. In E-commerce, the costs associated with the marketing of the goods would be eliminated. In electronic commerce, the goods are purchased from one site and later the goods could be delivered to the buyer at the doorstep. Moreover, the goods could also be returned if the buyer is not satisfied with the product. Hence, e-commerce provides a hassle-free system to the consumer and further makes the business transactions quite simple and convenient.
The other reason for the development of e-commerce was the rise in the level of satisfaction of consumers with respect to the services provided by the company. They do not have to wait time in order to receive their orders. Furthermore, when the goods are ordered online, the customers are able to access the site any time they want and can pay for the goods through credit cards. Thus, the customer service provided by companies using e-commerce ensures complete satisfaction levels by eliminating the factors like waiting time and also eliminates the factor of poor quality of the goods.