So what exactly is e-commerce and what are the benefits?
E-commerce (electronic commerce) refers specifically to using the Internet to order and pay for products or services.
For sellers, eCommerce benefits can include:
- Competitive advantage over other businesses not operating online
- Access to new buyers and markets - new sales channel
- Improved customer relationships
- 24 hour operation - tap into your market on a larger scale
- Reduced operational costs
For buyers, eCommerce benefits can include:
- Lower transaction costs
- Time saving