Electronic commerce or E-commerce means business trading through the Internet. We have acknowledged that E commerce is being paid supplementary consideration from capitalist and consumers, both local and international.
E-commerce proved its significance on the basis of the fact-where time is essence. In the profit-making markets, time plays an imperative role to both the commerce and consumers. From the business standpoint, with less time spent during each deal, more deal can be achieved on the same day. As for the customer, they will save up more time during their contract.E-commerce steps in and replaced the conventional business method where a sole deal can cost equally parties a lot of precious time. With just a few clicks in transcript, a deal or a categorize can be placed and completed via the internet with ease. For occurrence, a bank deal can be concluded through the Internet within a few minutes compared to the time-honored banking method which may take up to hours. This detail perceptibly proves that Ecommerce is favorable to both business and consumer wise as compensation and documentations can be accomplished with superior competence.
From the business point of view, E-commerce is much more cost successful compared to conventional business method. This is due to the fact where from end to end E-commerce, the cost for the intermediary to sell their products can be saved and abstracted to an additional feature of their commerce.Out-of-the-way from that, advertising for E-commerce can attain a better client to cost ratio as putting an announcement on the internet is fairly much cheaper than putting up a wayside hanging or filming a small screen marketable. For E-commerce, the total expenses desired to run the business is drastically much less compared to the conventional trade method. The reason due to that is where most of the cost can be condensed in E-commerce. For example, in administrating an E-commerce business, only a head office is looked-for rather than a head office with a few twigs to run the business.In adding together to that, most of the cost for workforce, preservation, connections and office leasing can be proxy by a lone cost, web hosting for the E-commerce business.