What is eCommerce?

What is eCommerce?

What is eCommerce?
Online commerce is the process of selling and buying goods and services through internet. It is likely to have certain advantages to both consumers and markets.

For customers, shopping may become an easy job. Since, they do not have to battle traffic, find parking space and walk through different stores to find and examine products. They can easily compare brands, check out prices and other merchandise 24 hours a day from any location. So, all these consequences would be eliminated by the usage of internet. The commercial on-line services give abundance of comparative information, about companies’ and competitors’ products. In addition to this, on-line buying is interactive and immediate. Consumers can often interact with the sellers’ site to find exact information, products or services they desire, then order them on the spot. There are also benefits for marketers. Firms can build good customer relationships by communicating with them in their site. So, this brings companies and their customers closer to each other. Company will also get to know the needs and wants of customers so the firm need not spend a lot of money on market research to find out this particular information. They can increase customer value and satisfaction through product and service refinements. The costs may reduce and efficiency may be improved by eliminating the costs of maintaining a store and accompanying rent, insurance etc. Since, customers deal directly with sellers (channel 1 is implemented over here).

Finally, internet is a truly global medium that allows buyers and sellers to click from one country to another in seconds. So, the market for the firms is large therefore they may segment them differently and find gaps and exploit them through the use of internet.