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Advantages of E-commerce

Here we understand about Advantages of E-commerce in detail as follows-

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Advantages of E-commerce
Use of E-Commerce helps both the vendor and the customer as follows-
Benefits to vendor:
  1. The cost spent on transactions is reduced drastically.
  2. Vendor is able to sell more products in one transaction.
  3. It is possible for the vendor to provide customers with price analysis of products.
  4. Facility of buying an item in just few seconds anywhere, anytime.
  5. Business can be expanded largely.
  6. Delivery of goods and payment of money can be finished easily and speedily.
  7. Exchange of money becomes faster and reliable due to electronic fund transfer.
Benefits to customer:
  1. Customer gets more options of vendors and products.
  2. As there are more options, comparison of prices easily done.
  3. Product is delivered to our doorstep.
Now, we discuss in detail as follows-
  • The speed of business transactions improves significantly, as delays for communications is avoided by proferming transactions online. Business organization can generate purchase order and send it to supplier online without any delay. Suppliers can receive and process the orders very fast as order moves electronically.
  • The business can be conducted cost - efficiently. The online marketing and selling of goods reduces the cost to perform the business as it reduces the cost of manual preparation and sending documents, telephonic or postal communication. The merchants get cost benefits by reducing their inventory as goods can be received from suppliers as per the orders. Reduced inventory helps in reducing cost of space and storage. The manufacturers get benefits of reduced cost by proper inventory control, production schedule, etc.
  • The online trading of the shares makes the system totally transparent as the prices for purchase and sell are visible to customer.
  • Online ticket booking saves the cost of travels as well as the time to stand in a queue.
  • Online filling of the forms also saves the time and cost as well as reduces the errors as the validity of information provided can be checked online while filling the form.
  • Providing information and services online means providing, recent and most updated information and faster services to the customers, which help in maintaining customer relation. As a result customer satisfaction improves significantly.
  • The contraints of physical boundaries for business is possible globally. Customer can choose to buy from any merchant no matter where merchant is physically located.
  • Online banking and billing services save the time for visiting the place, transactions are performed without human interference. The limitations of office hours for doing banking or paying for bills are not a problem as services are available 24 hours.
  • Customers get wider range for their purchase as they can view the catalogs online from many shoppers and make the comparision of price and features. Because of increased competition, customers get price benefits also.
  • Many traditional commerical activities were limited to only urban areas. The e-commerce provide equal opportunities for all kinds of business and services to reach rural area and thus benefits rural population.
Advantages of E-commerce
Benefits to vendor - The cost spent on transactions is reduced drastically
Vendor is able to sell more products in one transaction
Business can be expanded largely
Delivery of goods and payment of money can be finished easily and speedily
Exchange of money becomes faster and reliable due to electronic fund transfer
Benefits to customer - Customer gets more options of vendors and products
As there are more options
comparison of prices easily done
Product is delivered to our doorstep
Advantages of E-commerce.
Tech writer at NewsandStory