Advantages of E-commerce

Electronic commerce abbreviated E-commerce “is the buying and selling of goods, services and information on the Internet, especially the World Wide Web. Sometimes used interchangeably with e-business". In simple words-commerce conducted on Internet.

Advantages of E-commerce

E-commerce can drive productivity and be a source of innovation within organizations. It offers following advantages to business:

Improved customer service: With the most basic use of e-mail a business has a fast and reliable way to communicate with suppliers or to receive and respond to customer requirements.

Better business hours: Operating 24 hours and seven days is possible without the traditional overheads.

Reduced inventories:With shorter, faster supply chains, physical warehousing of inventory can be reduced or even in some cases removed.

An easier and cheaper way of doing business: Orders can be accepted, confirmed, processed, and increasingly, paid for in an online environment and can provide real cost reductions over telephone, fax or paper-based transactions.

A new way of doing business: E-commerce creates new opportunities for innovation and value creation in all sectors of the economy.

Access to worldwide markets:E-commerce is open to anyone. So business gets access to worldwide markets.

Can track purchases and use data to recommend other items to the customer:Previous purchase orders can be tracked and seller can recommend new items which are coming in market to those customers and that is without much cost.