E-commerce and its factors
E-commerce and its factors
E-commerce is a process of selling and buying of products on internet or other online services. The term commerce used for the encrypted payments and when it’s online, it is known as e- commerce. E-commerce is getting popular day by day; customers are getting advantage of discounted price offered by online wholesalers in retail.
Now e-commerce market has become virtual main street market of the world. It connects the sellers and consumers all over the world. Due to invention of e-commerce the products and services which were out of reach for many people previously are now being used by them.
E-commerce has made the shopping process less tiring and easy. The wide varieties of online shopping stores provide wide variety and options to the consumers. People sitting miles away from each other can interact and exchange their money and products by the utilization of e-commerce.
Internet today is considered to be the biggest invention, which has several utilities and capabilities and e-commerce is a function provided to the world by the same great invention internet. E-commerce has multiple numbers of benefits which includes:
- Low cost- because the market is presented by wholesalers, they are able to sell it at lower price value and the products are being sold as retailers the customers are able to use it.
- Time saving- sitting in front of your system and browsing through online shopping sites and ordering the product you want requires lesser time than going out to the market and searching shops one by one.
- Variety- the options and variety provided by these online shopping websites is much wider than your street market.
- Shortening the distances- you must have heard that, at times people have to travel distances to get something specific, unavailable in their own city or country. But now due to e-commerce, it is simpler and easier for them, as they can get what they want, sitting on their couches.
- New Markets- e-commerce provides new market to the consumers.
There are many more benefits due to e-commerce. The utility of this service is increasing day by day, in many countries people still prefer buying products off line but the changes and impact of e-commerce is strong enough to have an influence them.
The new generation forms a huge part of e-commerce customers, as for old generation the concept is new and thus it seems to be comparatively complicated for buying simpler and easily available products online. At times, the shipping duration is longer than the time required to go and b the product in person. So for easily available, simpler products and services people don’t use ecommerce, which restricts e-commerce within certain boundaries.