E-commerce is a type of commercial transaction that is effected through the online platform. In electronic commerce, the internet is utilized as a forum to facilitate and expedite business essentials like marketing, shopping, exchange of information, Inquiries and even payment. Companies have taken advantage of e-commerce and thereby availed their goods and services on the internet so that they can fully capitalize on the opportunities therein. Contemporarily, most businesses have developed websites that are designed to illuminate the characteristics and features of the physical shop. Therefore, web developers and designers are key players in the advancements of the gains created prompted by e-commerce.
Types of e-commerce
With the help of online marketing tools bundle, online shopping has become a norm in the contemporary society. Of course, some of the gains in online shopping are attributed to advancements in the banking sector, but essentially the internet is the basis of such development. Buyers and sellers are now able to transact without any physical touch or presence. Buyers can review products on different sites and thereafter make inquiries before making the ultimate purchase.
As mentioned earlier, the banking sector plays a significant role in the facilitation of e-commerce. In this regard, there are payment gateways that ensure that there is effective payment for the goods and services render online. PayPal is an example of a payment system that is traditionally synonymous with doing online business and payments. This type of e-commerce negates the need for unwanted paperwork and mailing of checks.
The transport sector is a huge beneficiary of e-commerce. Air tickets, train tickets, and bus tickets can be acquired online from the convenience of your home. Also, you can secure event tickets like sports and concerts. E-commerce has thereby increased efficiency in event planning and organization by creating a forum through which the persons interested can promptly acquire tickets.
Advantages of e-commerce
The benefits enjoyed through the development of e-commerce are plentiful and they include;
Increased brand awareness
Business owners can adequately broadcast his products and services to the entire universe. Websites, email marketing, and social media are some of the contemporary avenues that illuminate your business beyond borders. Also, e-commerce has adequately leveled competition between, and firms are now able to compete based on quality and not the size of the company.
Reduction of costs
Travel costs, marketing and advertisement costs are examples of expenses that are negated since the development of e-commerce. Operation of business through the internet is cheaper and convenient for both transacting parties.