Impact of E commerce on Business, government, customer, citizens and society
Answers
Explanation:
benefits and drawbacks well before they start wracking up sales figures.
01 E-Commerce Advantages
Female small business owner packaging merchandise at laptop in workshop
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The internet might be the single most important facet of modern society. It plays a primary role in everything from political discourse and higher education to the way we conduct ourselves and our businesses. It's no wonder, then, that switching to an e-commerce model comes with significant advantages.
E-commerce eliminates the need for physical stores and allows businesses to expand their customer base. On top of eliminating the possibility of long lines, e-commerce sites offer a huge advantage to both shoppers and stores that aren't located in major urban areas. Even if you are located in a big city, e-commerce opens up new markets, allowing you to develop a new business model geared toward your expanding consumer base. Many businesses have found particular success in developing good e-commerce Search Engine Optimization, which drives more traffic to the site.
Your business can also save money on rent, utilities, maintenance, and other costs associated with physical stores. Your e-commerce store can essentially remain open 24/7 without hiring employees to watch over the store and protect items. Since you aren't confined to a set amount of shelf space, there is no limit to the number of items that can be sold online, and your store's stock can expand exponentially. Physical products will still have to be stored somewhere, but storage spaces are often cheaper than retail spaces, and you won't have to worry about factors like foot traffic and parking spaces.
Digital products can be sold online with little-to-no overhead cost. Thanks to e-commerce, consumers can purchase music, videos, or books instantaneously. Stores can now sell unlimited copies of these digital items, without having to worry about where they'll store the inventory.
E-commerce also allows your business to scale up easier than physical retailers. When a brick-and-mortar store grows, it needs to consider how it will serve more customers in the same small space. More employees are needed to expedite check-outs, more of the floor gets dedicated to forming lines, shoppers feel more crowded as customer base and inventory grows. Of course, logistics always get tougher as a business grows, no matter how the business operates. With the right choice of a third-party logistics provider, however, e-commerce companies can manage this growth without worrying about the physical store aspects.
Keeping in contact with customers is often easier for e-commerce businesses. Since the e-commerce merchant captures contact information in the form of email, sending out both automated and customized emails is simple. Let customers know about a sale, promote a new product, or just check in with customers for a personal touch—all with minimal effort. Additionally, web tools like cookies allow for superior store customization and consumer behavior analysis.
The benefits consumers enjoy are shared by e-commerce companies when it comes to the supply chain. Consumers like online shopping because they don't have to deal with cash, worry about schedules, or wait in long lines. Those benefits also apply to entire supply chains interlinked with business-to-business e-commerce systems. Procurement becomes faster, transparent, and there's no need to handle currency notes or cash. The result is cheaper, easier transactions with fewer opportunities for accounting errors.
E commerce has a profound impact on on Business, government, customer, citizens and society
Explanation:
There are various Benefits that e commerce have on business , governments , customers ,citizens and society:
- E-commerce enables businesses to get an access over million customers , according to the location and product categories.
- E-commerce offers the various trading ways and earn huge profit from the.
- Online presence of business makes it easy to access products and services by customers , audience, citizens , and society.
- E-commerce enables to reduce the transaction costs. and enhances customer empowerment
- Offers of various Job Opportunities for the people.
- Better and accessible education facility.
- Expand the source of business around.
- Better prices, offers , easy access of services and less transportation cost
- Less Cold storage expenses.