E commerce is “electronic commerce”. It is anything that involves doing business electronically.
E commerce obviously includes commerce conducted over the internet, but it can include other forms of electronic commerce such as telephone banking, using a fax, or generating and managing accounting systems on a computer (without use of the internet).
E commerce also offers distinct advantages for both the buyer and the seller:
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The seller has lower costs
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The seller can change electronic details easier than details printed on paper (eg. if the cost of a service needs to be changed; you can do it easily and immediately on a web site: but cannot on a printed brochure)
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The seller can reach the whole world as a market, through the internet
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Immediate payment can be achieved at a distance electronically (with credit card or direct bank transfer, etc)
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The buyer has greater bargaining power to purchase at a better price.
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It becomes viable for smaller businesses to enter the market place; and that can result in some services or products becoming available, which might not normally be available through, for example, a traditional shop front.
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The buyer can access a greater variety of suppliers easier
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The buyer has the convenience of shopping from home 24/7
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The buyer can shop around to get the best bargain in a fraction of the time than in the traditional way of shopping.
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There is less stress involved in shopping online because there is no traffic to beat, no parking problems.
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Online shopping offers a whole new world of shopping for people with disabilities, elderly and people with less mobility.
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Establishing an ecommerce business requires a fraction of investment in comparison to a traditional brick and mortar business therefore enables many more individuals to establish their own business.
Want to learn more?
Consider our E Commerce Course (click here)
