As we all know, commercial activities are very fundamental in every economy, they contribute a large share to the economic growth and development which in turn helps boost the economy. Commerce on its own which involves the distribution and exchange of goods and services, has, over time provided much more than just buying and selling but has also fostered a good relationship between buyers and sellers.
Knowing the significance of commercial activities in every economy, one can clearly see that these activities must be sustained and controlled over time. From its inception until now, it has always been key in every economy.
Changes in time and technological advancements have taken commerce to a whole new level. And today we have such we call E-commerce, which has taken over various societies, making commercial activities thrive with ease and in a more conducive environment.
E-commerce basically has to do with the distribution and exchange of goods and services over computer networks, such as the internet. It also creates room through which transactions or terms of sale are performed by an electronic means. It makes commercial activities a whole lot easier, faster and better.
There are a wide range of benefits that E-Commerce offers, and some would be considered here
With e-commerce, customers experience more ease and convenience in making purchases, seeing how they can make their orders for various products online and have it delivered right at their residents without having to step out or visit the shopping stores to get what they need. With the presence of online payment options, they can as well make payments with the use of cards, without having actual cash on them.
IT OFFERS WIDER RECOGNITION
It gives a business a platform to gain wider recognition from customers, not just locally but internationally. With the internet, a business can gain a wider reach, be seen and discovered by more customers. Without the presence of digital platforms, it may be difficult and take more time to gain such recognition.
ELIMINATES USE OF CASH
The majority of online platforms create room for payments to be made online without physical cash exchanging hands from customers to producer or seller. Online payment options provide more ease and safety for transactions to be made.
One benefit e-commerce offers small businesses is the opportunity to compete with larger firms in providing products and services. E-commerce gives equal opportunity to both small, medium and large companies to promote their businesses and compete in the global market without restrictions. Except a company decides to stay small and refuse to scale up, e-commerce, when maximized, can keep small firms in good standing positions.
E-commerce helps to save more cost than the traditional style of operating business, these lower costs can be experienced in areas of staffing, as an online system can be entirely automated. Businesses don’t also need to consider setting up a new store to carry out commercial activities, websites can instead be created with much less.
Also, there are other strategies of E.Commerce such as Email Shopping, Drop-shipping and Display Advertising that could create additional convenience to customers and also eliminate the necessity to have a business location and to go paperless(Such Options are excellent for stay-at-home mothers).
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