IMPORTANCE OF E-COMMERCE IN THE MODERN BUSINESS WORLD

The business world is changing almost every day, the technological advancements and globalisation has caused extensive amounts of competition, bringing the ability of producing better products and services that cater more precise needs and wants of the customers than ever before.

With all advancements that have taken place, you and I experience easy access to goods and services than ever before, this is of course thanks to the concept of e-commerce or electronic commerce. E-commerce has brought people and the rest of the world together, creating a lot of competition. Customers today are able to enjoy a wider variety of goods and services at extremely competitive prices. Today you see numerous online trading platforms, operating in different ways to fulfil customer needs and wants.

So, with all advantages for customers you must be wondering how beneficial it is for an organisation to be a part of e-commerce. Here are few commonly known reasons:

• E-Commerce influences customers purchasing decisions – Today customers tend to go online to check reviews, prices and availability of the products to save time. Having online purchases could drive in more business.

• E-Commerce promotes customer convenience – Since customers today tend to simply make an easy online purchase while the products are home delivered. It is the lifestyle and technology that have caused such a change to customers purchasing behaviour. And as a result will your business to earn more money, reputation and publicity.

• E-Commerce promotes a whole personalized experience – An e-commerce platform with a shopping cart, customers being able to track their orders, payments, delivery, product portfolio, reviews etc. under one roof is such an added facility which you could find in majority of the e-commerce platforms available. Simply attracting customers more easily than having a physical store located.