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Electronic commerce (written as e-commerce) is the term given to the commercial transactions conducted electronically on the internet. It is the process of buying or selling of goods and services over an electronic network mainly internet. The transactions occur in the four major market segments: business to business, business to consumer, consumer to consumer, and consumer to business. This business model of transacting over internet is a step ahead of mail order purchases in many ways. If you are curious to know what makes e-commerce talk of the time, contact e-commerce assignment help. The experts at e-commerce assignment help are not just qualified but have formed their ideas from their extensive work in the field. They will help you gain a practical insight into e-commerce. These insights are not available in books. Reflect these ideas in your assignment and it will sure receive your professor’s appreciation.
Rise of e-commerce
E-commerce can be traced back to 1960’s. It marked the beginning of e-commerce when businesses started sharing documents with other firms electronically. The number of people sharing information grew with internet and led to the rise of ecommerce. Increased penetration of internet and visionaries such as Alibaba, Amazon, eBay, PayPal etc revolutionized the industry and ensured that more and more people traded goods and services online. Now, e-commerce rides on the back of consumer driven transactions. Many startups are centered on e-commerce to attract consumers. Traditional retailers realize that e commerce is needed to save their business and are setting up commerce websites. Lack of online taxation is among other factors that contributed to the rise of e-commerce. There is no dearth of online retailers. This makes it convenient for people to order a wide range of products from the comfort of their homes and have products or services delivered to them. The boom in e-commerce has also benefitted businesses that revolve around e-commerce such as online travels, financial transaction services, logistic services, e-commerce software vendors etc. The benefits to these sectors in turn helped e-commerce grow. Those who were set to lose from this boom such as traditional retailers have also jumped in the boat with e-commerce and set themselves on the path to gain. Learn more about the growth story of e-commerce from e-commerce assignment help and improve your scores.
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Pros and Cons
E commerce has allowed firms to establish or expand their customer base and improve their market presence. This improves a product’s visibility and reaches out to a wider audience. A consumer can place an order at any time of the day, seven days a week. Next is the choice it offers. With retailers dying to jump on board with e-commerce, now the customer has more products to choose from. This empowers customers and attracts them towards e-commerce. But there are some cons too. Images don’t always tell the whole story but consumers now need to trust in what the brands advertise. They cannot touch and see a product. And they need to wait for the product to be delivered to your address. But despite these disadvantages, customers associate ecommerce positively as companies are able to cultivate trust in customers via many strategies. The professionals that we have at ecommerce assignment help will quell your doubts and help you understand ecommerce in detail.
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