The benefits associated with e-commerce (week 5)

E-Commerce is one of the most important facets of the Internet to have emerged in the recent years. Electronic commerce involves carrying out business over the Internet with the assistance of computers, which are linked to each other forming a network. In other words, it refers to the buying and selling of goods and services and transfer of funds through digital communications.

It is a well known fact that there are a great deal of benefits associated with E-commerce.

Here is a list of just a few of the benefits that are associated with e-commerce:

1) Factors such as time and distance are no longer a huge worry

2) The direct cost for sale of items are lower than the way traditional sales are made

3) It is the cheapest means for doing business. (You don't have to worry about the cost of rental space and electricity bills or hiring staff to attend to the store.)

Here is an example of a company that benefited greatly from E-commerce:







The video basically shows how dustbag.co.uk benefited from e-commerce. They were able to close down their retail store and move their business online. Aside from cutting costs and seeing and increase in sales, they are doing so well that they plan to expand their business outside of UK into Europe.

Businesses obviously benefit from e-commerce, but they aren't the only ones benefiting. Consumers benefit from it too.

- Buyers enjoy a reduction in their shorting out time. The internet makes it easy for them to locate EXACTLY what they are looking for in the shortest period of time

- It also makes it easier for them to make better buying decisions, because it is easy for them to compare and contrast the prices and availability of the required item from different sources and sellers.

- It also makes it easier for them to customise the products they buy to suit their tastes and preferences.