What is Electronic Commerce?

Electronic Commerce is the trading of goods or services via electronic data transfer without any usage of paper. To be more precise E-commerce is “To sell goods or services online”.

Today the online market is immense and internet based sales is simultaneously growing drastically. The buying public is attracted to internet sales because of the ease of placing orders and receiving the goods or services. Though the technology may change time to time but the market will remain.

Though some people are still afraid of doing transactions online but as the complexity associated with online credit card payments has been reduced considerably more and more people are feeling comfortable while doing a purchase online. The whole process of transactions is molded into a single low-cost and easy to use process by few online merchant account companies.

If someone owns a retail store but not having an E-commerce website; there would certainly a loss of sales. People are using the Internet to locate and price products that will eventually be bought locally. Having your products online will also assist you to promote your business locally.

Reasons for creating an Ecommerce website

Electronic Commerce is the trading of goods or services via electronic data transfer without any usage of paper. To be more precise E-commerce is “To sell goods or services online”.

Today the online market is immense and internet based sales is simultaneously growing drastically. The buying public is attracted to internet sales because of the ease of placing orders and receiving the goods or services. Though the technology may change time to time but the market will remain.

Though some people are still afraid of doing transactions online but as the complexity associated with online credit card payments has been reduced considerably more and more people are feeling comfortable while doing a purchase online. The whole process of transactions is molded into a single low-cost and easy to use process by few online merchant account companies.

If someone owns a retail store but not having an E-commerce website; there would certainly a loss of sales. People are using the Internet to locate and price products that will eventually be bought locally. Having your products online will also assist you to promote your business locally. Some of them are as follows:

• Building up the brands
• Launching new products or services
• Selling products and services
• Developing a better understanding of the customer’s requirements
• Existing marketing programs enhancement
• Improving after sales support

Usability of such websites

Some of the benefits of using E-commerce websites have given below:

• Customers World Wide:With an E-commerce store one can sell the products or services worldwide. Customers from any part of the world can easily access the website. Thus, E-commerce is allowing people to do businesses without any hurdles of time and distance. E-commerce websites are ideal for niche products as customers seeking for such products are usually few. Even niche products can produce sufficient volumes in the huge market place i.e. the Internet.
• 24×7 Availability:One can access Internet at any point of time. Whether it’s a day or night purchasing and selling can be made by a single click of the mouse. The customers can shop 24 hours from the E-commerce websites, which is not practically possible when having a physical store. That means the E-commerce store is open to the customers even when seller sleep.
• Selling More Products:Through an E-commerce website more number of products can be offered to the customers, which can’t be done with the physical store. In a physical store you can keep the goods as per the space in your store.
• Various Payment Methods:Through ecommerce added number of payment methods is available. With an E-commerce store, payments can be accepted from the customers through different types. Various options like Credit Cards, PayPal, Amazon Checkout, Google Checkout, money orders etc are available these days.
• Reduced Cost-of-Sale:as there is no human interaction during the whole online e-purchase order process, the direct cost-of-sale is much lower than the traditional means i.e. retail, paper based etc. further, electronic selling and purchasing are faster and more convenient for the visitors.
• Cheapest means of doing Business:E-commerce is the cheapest means of doing business. It also reduces the day-to-day pressures of the marketplace and strengthens the competitive position in the market. E-commerce provides the solution for lowering the costs.

In brief, benefits of such websites covers lowering premises and staffing costs, and opening up new markets such as those in other areas and those with mobility disabilities.