The term E commerce came into existence in later 1960's with
the emerge of Electronic Commerce that enables selling and buying of goods
through a network especially through internet. eCommerce deals with the concept
of doing business online. The turn up of eCommerce shows how Information technology
has transformed the business process.
E commerce can be split up into many divisions such as B2B,
B2C, C2C, C2B, the examples for these business platforms are Bizbilla, Amazon, OLX,
and Fiverr respectively.
E commerce a boon:
In today’s situation every organization whether it is small
or big it has to use some form or the other of eCommerce. Since it has lots of
advantages eCommerce stands at the top today. There are lots of advantages to
talk about.
1) One such advantage is lower transaction costs.
2) E commerce facilitates the globalization of business by
providing economical access to the business all over the world.
3) Personalized service is very important for the raise of a
business organization and eCommerce provides it in lots.
4) It brings lots of clients and helps to increase higher
revenue and bigger profit margin
5) A big advantage is that eCommerce store provides service
regardless of time. In other words it may be said as the store that is open all
the day 24/7
E commerce a bane:
Like all the other things in the world eCommerce too have some
disadvantage. It may be considered as its challenges. Some of the challenges
faced by eCommerce are as follows.
1) However eCommerce assists to have personal relationship
with customers it too have some disadvantages withe same, that the seller and
buyer could not meet in direct.
2) E commerce lags security. People take more time to believe
a product or service that it is not fake. And most of the customers fear to
provide their personal information.
3) It is impossible to predict the environmental situations in
order to deliver a product to a customer
Even there are some disadvantages, E commerce does its best
to the business environment hence it can be considered as a boon.
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