Benefits of E-commerce
Electronic Commerce or E-commerce is a term used for any type of transaction or business that involves the transfer of data across the internet. E-commerce covers a wide range of different types of Businesses. In other words, E-commerce is a process of buying or selling goods or services on the internet. E-commerce started in the year 1960 via an Electronic Data Interchange (EDI) on Value Added Networks (VANs). The rise of eBay & Amazon in the year 1990 revolutionized the E-commerce industry. People can now buy books, household items, toys, garments, grocery etc., online, from the comfort of their home.
There are rising numbers of Websites available online which are selling products & services directly to the consumers. There are also online stores which cater to Business to Business (B2B) sales. Accordingly, E-commerce can be subdivided into three categories: Business to Business (B2B) (e.g. Adobe, Cisco, Xerox etc.), Business to Consumer (B2C) (e.g. Amazon, Flipkart, Snapdeal etc.) and Consumer to Consumer (C2C) (e.g. OLX, eBay, Quikr etc.)
E-commerce has distinct advantages over it traditional counterpart. E-commerce is much faster, convenient, easy, wide range of choices, comparison with other websites for a similar product, quicker deliveries, easily returnable, free trial periods, grievances are handled with quick response, round the clock availability (24/7), business beyond boundaries, better customer services, cost effective, digital transactions, minimum inventory cost etc.