E-Commerce

Advantages of Electronic Commerce

1. Facilitates the globalization of business

-E–commerce facilitates the globalization of business by providing some economical access to distant markets and by supporting new opportunities for firms to increase economies by distributing their products internationally.

2. Provides increased purchasing opportunities for the buyer

-As e–commerce increases sales opportunities for the seller, it also increases purchasing opportunities for buyer.

3. Lowering staffing cost

- As in e – commerce, the selling & purchasing process is outline, the amount of interaction with staff is minimized.

4. Market based expansion

- An e–commerce is open to entirely new group of users, which include employees, customers, suppliers & business partners.

5. Increased profits

-With e–commerce, companies reach more & more customers where physical commerce cannot reached, thus increasing profits.

6. Increased customer service & loyality

- E–commerce enables a company to be open for business wherever a customer needs it.

7. Increase speed & accuracy

- E–commerce see the speed and accuracy with which business can exchange information, which reduces cost on both sides of transactions.  It is available 24 hours a day & 7 days a week.

8. Increased response times

- In e–commerce, the interaction with the system take place in real time & therefore allows customer or bidder to respond more quickly & thus reduces the time of discussion between them as in traditional commerce.