The Benefits of Electronic Commerce in Today’s World - Essay Example

In other words, business transactions on the Web where all It takes Is a click of your mouse button and a flick of your fingers and you are on your way to being the proud owner of anything under the sun – is expected to boom beyond known limits in near future. Why are we seeing such an interest in online business transactions? The reason the several e-commerce benefits which is enjoyed by both customers and merchants at the same time, a real win-win situation. Here’s a summary of e-commerce benefits for you to view and consider.

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The market for a Web based business is not bound by any geographical constraints. This means lesser or NIL growth inhibitors due to various restrictions existing In different geographical regions. The transaction costs go down tremendously in a well set up site. The company saves on the costs of the people needed to Interact with the customers, demonstrate the wares time and again. And take orders. All this gets automated online. Better, more inviting, convenient and comprehensive presentation of goods is conducive to greater sales.

For instance, if you are at Amazon, you can take a look at what other people who ordered a book also purchased. Facilities such as being able to compare costs of several stores at the same time, keep a tab on your selections, the flexibility of being able to add, remove, and even come back later to carry on choosing instead of closing the deal In one online session itself are quite convenient to a customer. The Web business can be integrated into the regular business cycle and give customers more information than ever before.

For instance, customers at Dell can see exactly at what stage their order Is, at any given point of time. Improved customer interaction, at practically no cost, is a big asset to the company. Keeping clients happy has now become much more economical for the companies through their websites. By putting Information on frequently asked questions on their website, organizations are saving costs by reducing the number of customer service representatives. Eventually which means that, the benefits of saved connection, too? More convenient and easy business to business or “” e-commerce where companies buy from each other.

For instance, a garment wholesaler may sell to a chain of retail shops, or an automobile manufacturer may shop around for thousands of car parts from suppliers online. Small and large firms alike have the opportunity to set-up and conduct business on the internet. The barriers to entry to the e-commerce are minuscule. An inexpensive advertising medium for organizations, it allows organizations an opportunity for publicizing their products and services at minimal cost. Helps expand into new markets by virtue of its global reach.

Open your product ND services to a new customer base and to maintain a leading edge technology position and image in the market place and against your competitors. All these e-commerce benefits are being gradually recognized the world over. Most of the businesses, big or small, are now setting up bases on the internet to reap the benefits of this golden era of e-commerce.