Scope and popularity of e-commerce
The scope of e-commerce is to transact online. Transaction through online can be either on products or services. Most of us are aware of buying products online through some sites like e-bay or amazon.com. Almost everything from gym equipment to laptops, from apparels to jewelries, are purchased online in this age of e-commerce. While these are products, people are also buying services online. Consultants to business lawyers are offering their services to their potential clients.
Customers are also eager to transact online, as it is much hassle-free. Moreover, there is enough freedom offered to them to go online, look for a product, and compare a few more of different models, along with their prices. The bonus is that the customer can also go to other online product review sites, and discussion forums. Once the customer likes a product after all research, he can order for it online. E-commerce has also made it easy to pay. These days a number of methods have evolved to pay your dealers – credit cards, debit cards, PayPal account, direct online money transfer and many more. Once the payment is made, the dealers dispatch the product, which reaches the doorstep of the customers within few days.
As business means keeping your customers happy and doing things the way they like, businessmen are choosing e-commerce to traditional business. In fact, companies which already exist in traditional forms are also going for the extra option of online business for the ease of the customers. To cite a good example here would be Wal-mart. Although they have huge stores, they have gone online with their business. So, even if the customers cannot make it to their store can still log on and order things that he needs.
Factors that encourage the businessmen are also that they do not have to set up a real store and spent a bulk of money in its maintenance. A real store also means employing a larger number of employers, the salary of which also needs to be borne by the entrepreneur. Instead of that an online business definitely gives the businessmen a chance to reach a higher profit acting as much cost as possible. And of course just like the customers, the businessmen also love the idea of getting their payments through online modes of payments which are fast, hassle-free, and reliable.
E-commerce, has made it possible for the customers to avoid standing in the queue as to make payments for their bills, or booked tickets of flights and also hotel reservations. They can now do that all with just a click of a mouse, saving both the time and money. E-commerce has also facilitated the customers to order a product sitting in one part of the globe, from another. Of course this idea has enchanted not only the customers but also the businessmen, who can now make their products or services available to their potential customers, who might be at any part of the world.
However, there are certain risks which are associated with e-commerce or online business. Although technology has taken us to a different sphere of life, we cannot deny the fact that it also has its limitations. And when we are taking the refuge to technology, we must face the fact that at times we will be, obstructed while doing our regular transactions online. In such a scenario, it should be of mutual process of understanding both from the sides of the businessmen and the customers – both. However, as we see that the benefits of e-commerce outdoes that of the risks, the reason as to why online business has gained so much of popularity is pretty self explanatory there.
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