It is generally associated with buying or selling a product by using the Internet as the platform. Information and communications technology ICT is used in e-commerce marketing to create and add to relationships among organizations and between an individual and an organization. At present, about half of the world prefers purchasing items online at their convenience.
With all advancements that have taken place, you and I experience easy access to goods and services than ever before, this is of course thanks to the concept of e-commerce or electronic commerce.
E-commerce has brought people and the rest of the world together, creating a lot of competition. Customers today are able to enjoy a wider variety of goods and services at extremely competitive prices.
Today you see numerous online trading platforms, operating in different ways to fulfil customer needs and wants. So, with all advantages for customers you must be wondering how beneficial it is for an organisation to be a part of e-commerce. Here are few commonly known reasons: E-Commerce influences customers purchasing decisions — Today customers tend to go online to check reviews, prices and availability of the products to save time.
Having online purchases could drive in more business.
E-Commerce promotes customer convenience — Since customers today tend to simply make an easy online purchase while the products are home delivered. It is the lifestyle and technology that have caused such a change to customers purchasing behaviour.
And as a result will your business to earn more money, reputation and publicity. E-Commerce promotes a whole personalized experience — An e-commerce platform with a shopping cart, customers being able to track their orders, payments, delivery, product portfolio, reviews etc.
Simply attracting customers more easily than having a physical store located.The Importance of Electronic Commerce in Modern Business: /ch This article explains the overview of e-commerce and the importance of electronic commerce (e-commerce) in modern business.
E-Commerce influences customers purchasing decisions – Today customers tend to go online to check reviews, prices and availability of the products to save time. Having online purchases could drive in more business.
View Notes - Importance of E-Commerce in modern business from BUSINESS BUS at United States International University (USIU - Africa). Importance of E-Commerce in modern business .
Jun 30, · Thus, for the web developers, e-commerce website development has become a latest business trend.
This new concept has revolutionized the way of doing business on internet. By providing the superior quality ecommerce solutions, this business has emerged as the most innovative way of doing business. E-commerce is the use of internet and the social web to do business, when focus on digitally enabled commercial transactions between among of firm and individuals involving information systems under the control of the firm it takes the form of e-business.
The setting-up cost of an e-commerce business is extremely low compared to setting up a physical shop. Moreover, it is easier to get a license and permit for an e-commerce marketing site.
Billing customers and inventory management are usually automated.
This reduces labor costs. Therefore, e-commerce in modern business is much more efficient.