What is e-Commerce?
Today, globalization has almost eliminated the concept of a physical market and has made everything online. You can purchase and sell anything online, no matter where you are. This is called Online Business, which is possible through commercial websites also known as e-commerce websites.
- E-commerce is the sale of products and services over the internet, and is the fastest growing segment of our economy. It allows even the smallest business to reach the global audience with its product or message at a minimal cost.
- E-commerce is the purchasing, selling & exchanging of goods and services over the computer network or internet where in transactions or terms of sale are performed electronically.
- It will expand the organization’s market to national and even international markets with minimum capital investment.
- The brand image of the Business can be improved worldwide with the use of e-commerce.
- It helps to automate the business processes and make them faster and efficient.
Why e-commerce over Traditional shop?
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Items
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e-Commerce
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Traditional Commerce
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Sales Channel
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- Enterprise → Internet → Consumer
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- Manufacturer → Wholesaler → Retailer → Consumer
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Sales Hour /Region
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- Restricted area
- Restricted sales hour
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Sales place/method
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- Market space (Network)
- Sale based on information
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- Market space (store)
- Sale based on display
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Customer information acquisition
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- Any time acquisition through internet
- Digital Data without no re-entry
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- Market survey and salesman
- Require information re-entry
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Marketing activity
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- 1:1 Marketing via bi-directional communication
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- One way marketing to consumer
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Customer support
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- Real time support for customer Dissatisfaction
- Real time acquisition of customer needs
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- Delayed support for customer Dissatisfaction
- Time different for catching customer needs
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Capital
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E-commerce is way more advantageous than the traditional market. With the advent of technology, you can buy and sell goods online with just one click. If you have a smartphone phone, all you need is a suitable application. The rate at which people are shifting to e-commerce is increasing exponentially and if it continues at this pace, in no time every little shop will go online.
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