Electronic Commerce, or eCommerce which literally means business trading through the internet is a system that allows online movements, buying, selling goods, services, and information. eCommerce sites enable businesses of all sizes to reach their target range of customers without being physically present.
Benefits of eCommerce Website in Business
1. Saves Time:
In the Commercial markets, time plays an important role to both the business and consumers. eCommerce steps in and replaced the traditional commerce method where a single transaction can cost both parties a lot of valuable time. For instance, a banking transaction can be completed through the internet within a few minutes compared to the traditional banking method which may take up to hours.
2. Saves Money:
eCommerce is much more cost effective compared to traditional commerce method. eCommerce saves the cost used for the middle persons to sell their products and diverts to another aspect of their business. One instance is the famous computer enterprise Dell, which practice such a method by running most of their business through internet without involving any third parties.
3. Connects People with Products:
eCommerce provides better connectivity for its potential customer as their respective website can be accessed virtually from anywhere through internet. Thus more potential customers can get in touch with the companies’ business and eliminate the limits of geographical location.
4. Provides Freedom Of Choice
E-Trade offers multiple options for the consumer because the Internet contain endless numbers of different topics and locations, services and users can access throughout the world.
5. Creates a wide range of Opportunities:
The appearance of eCommerce as a pioneer has opened up various windows of opportunities for a variety of other companies and investors. For example, due to the booming of eCommerce, more and more resources are being directed into electronic securities, internet facilities, business plans and new technologies.
6. Provides Comparison Shopping:
eCommerce facilitates comparison shopping. There are several shopping search engines and comparison shopping websites that allow customers to browse multiple eCommerce merchants and find the best prices.
7. Assures 24/7 service even to people:
The customer can do transactions for the product or inquire about any product/services provided by a company any time, any where from any location. eCommerce application provides user more options and quicker delivery of products.
8. Makes life Easier
eCommerce has enabled access to services and products to rural areas as well, which are otherwise not available to them. eCommerce helps government to deliver public services like health care, education, social services at reduced cost and in an improved way.
9. Increases Interaction with Customers:
An online presence provides business with the opportunity to increase communications with customers through interactive elements such as product review’s, email newsletters, customer feedback, discussion forums and blogs. This insightful information can then be used to improve customer relations and fed back into business planning.
10. Helps to keep up with other competitors:
In order to stay competitive and not get left behind-each company needs to keep an eye on what other companies are doing. And because the internet provides transparency, there is no quicker and easier way to keep on top of what competitors are doing than monitoring their websites.