In simple terms e-commerce can be defined as a process of buying and selling produce electronically. This has been achieved by use of mobiles as well as the Internet. E commerce entails both selling of goods online and payment through electrical methods. The traditional trading stores are facing a great competition from the e-commerce venture. When a person considers the merits of E-commerce venture and ignore the demerits one will always settle for it. The ability to sell commodities in all parts of the world is the greatest advantage of the E-commerce business. One can only market his or her products in his or her area and the neighboring areas in the case of a physical store. With an E-commerce venture one has the advantage of marketing their goods globally and thus sales can be made anywhere anytime.
The another benefit of E-commerce ventures is that they do not close their sites. Due to time limitations in physical stores, they are forced to have a defined opening and closing time. This does not occur in E-commerce as one can market their product 24hours in a day. The another advantage of E-commerce is that one can minimize the operational cost. In E-commerce one does not have to incur costs such as rent for the premises and payment of employees. This becomes cheaper and easier to operate the business and one is able to attain higher profit margins. E commerce has automated inventory management.
This has helped to reduce the cost that would alternatively be used to operate manual inventories and managing the business. The another merit of E-commerce is having a laser targeted group. E Commerce has the benefit of getting clients to feedbacks as well as the commodities they want. This gives them the benefit of not stocking unnecessary commodities. A market dominance is established Due to the gap that existed before in that field of E-commerce. E Commerce also has the advantage of being independent of location. A laptop and the good Internet is all that is needed when one wants to locate E-commerce anywhere.
Before starting an e-commerce business one should consider various factors. One major factor is that E-commerce business should be kept simple. The seller should start with one product at a time , then asses on the marketability of each product before choosing what to settle for. Before starting an E-commerce venture one should also consider competition. E commerce is very competitive and this can lead to the collapse of infant ventures. One is advised to go for products that face less competition before being fully established in the market. E Commerce is also of great benefit to customers since it has helped to save on time as well as the cost that would have been incurred as one travels to the market physically.