Collaboration of faster internet and by the use of powerful internet tools has resulted in a new arena in the world of commerce called to as E-commerce. Over the recent years e-commerce has changed the phase of economic development on a large scale and it has become the major player and the game changer to the world economy .All industry seem to benefit in a way or two from e-commerce ,right from IT industry to shipping industry. Moreover e commerce seems to have increased the business collaboration and interchange of data among same industry. Overall E commerce tends to have an impact on the whole working world directly or indirectly. The main reason for e-commerce to be a great success in a short period of time is because of its availability across various platforms. Right from laptop to mobile. As it made available on different platforms, that gives the customers the freedom of using it where ever they want and whenever they want.
Marketing e commerce business has also a big hand in making this commerce arena a success E-commerce strategies involves marketing across social media, which by the way reaches the target audience faster than comparatively.
Supply Chain and E commerce
Knowingly or unknowingly e-commerce has brought in the balance among the value chain and seems to be the back bone among certain Industry ,E- commerce supports right from electronic buying to exchange of data among business partners. Most part of e-commerce includes inter and intra company functions such as finance, selling and negotiations, which by the way is a healthy prospect for business industry. E- Commerce helps the stream flowing in right way to generate more opportunities. The mere impact on e commerce can already be seen among the company boundaries, waiting for a major breakdown to happen involving boundaries. This is a wanted change that is waiting to happen because e commerce not only involves inter company functions, it happens with intra companies as well mainly connecting and communication among industries will help the overall supply chain ,which primarily increase the value chain and Economy to a whole new level
Advantages of E-Commerce
With E commerce, both ends customer and companies both tends to benefit in one or another way. Now, let’s have a look from the company end towards adopting e-commerce in their business, it suits for both smaller and larger market.
Business around the clock 24*7
Low on Transaction Cost
Global Location.The main advantage of setting up an e commerce platform is to attract global customers. It really doesn’t matter if you have a store in UK or US, if you are willing to put up your shop on-line customers are going to come in, nevertheless of your location.
You, on other hand, can manage your store almost anywhere you want. Even on the go!
Business Around the Clock 24* 7 : Customers don’t have to rush in or worry about timing, when they can afford the luxury of time, they sure are going to come in,
Even while you’re sleeping, your customers can visit your store and browse your products and place their orders
imagesGlobal Customers: You get to have the attention of customers that you target, whether it is towards smaller or larger market, customers reach out.
Low on Transaction Cost: By going on-line you get to cut down the cost of labour and phone calls and that saves you lot of time as well. With e-commerce as long as you have an on-line catalogue or a menu that lists out your products and services, you get to be in the market.
Adopting E-commerce will have a significant effect and changes to the target market .E-commerce will not only change big companies and the way they operate, it has the ability to change our lives as well, right from our day to day activities such as shopping, booking tickets and ordering books. Thus it plays an important role in Local distribution and may take some time to change things globally.