In the modern times, where we have traveled so much ahead of the previous generation regarding technology and connectivity, our ways of business have also changed drastically. We all know about the optimization of production processes with better technology and cost-efficient techniques. But along with production, the commerce department of Business has also seen a huge evolution from simple man to man trading methods to complex trading methods like telemarketing and ultimately e-commerce as of now.
E-commerce is quite a well-known concept in our modern day society, especially with the digital revolution and the enhanced applications of the Internet. E-commerce in Layman’s terms is buying and selling over the Internet. It can be further categorized by who the buyers and sellers are, i.e., whether the seller is a business or customer, and whether a buyer is a business or a customer. Thus E-Commerce can be Business to Business (B2B), Customer to Customer (C2C), and Business to Customer (B2C) and in rare instances Customer Business (C2B). With the number of Internet users across the globe as high as “3.58 Billion” as of 2017, every business must make a concrete online presence without fail. As a result of such a big Internet user base worldwide, E-Commerce has nearly replaced the traditional Brick & Mortar shops.
Advantages of E-Commerce and a few examples of E-Commerce websites that have made it big in this Industry:
Getting your business popular on the Internet through E-Commerce can be a bit painstaking, but it has its large number of benefits listed as:
- First and Foremost significant advantage of E-Commerce is that it doesn’t require you to compulsorily have any Brick & Mortar structure to conduct your sales. Thereby, your problem of finding a place is solved, and the cost of building the shop is also saved. You might only be required to make a small investment in preparing a Godown like structure to securely store your products so that they can be dispatched as per the orders placed online.
- Another significant advantage is that you can provide a 24×7 round the clock access to your products online to your customers for purchase, unlike a traditional store where it has to be closed down at night. Thus, you can make a sale even at midnight without being awake.
Worried about your pending dues? Here’s a solution
Nowadays you don’t see a lot of people saving their income in any manner. Mainly because of the western lifestyle influence which stresses more on spending than saving, our mindset has completely been washed out, and we have forgotten our traditional teachings of saving. As a result, like the western countries, the majority of our population is also facing debt related issues. If you too are facing similar issues and the damage has been done already, you need not worry anymore.
Commerce is an inseparable part of any business as the marketing and sales of a product needs to be properly safeguarded and planned. However, in the current digital era, relying on manual sales and door to door marketing is not at all rational and neither will it help you remain in the competition. For that, you need to adapt to the Internet applications in the form of E-Commerce. E-Commerce has many benefits like cost-effectiveness, time-saving and 24×7 access. Some big E-Commerce brands are Amazon, Flipkart, Alibaba, etc.