Electronic commerce is commonly known as Ecommerce. It is a system where buying and selling of product or any service is made electronically through Internet or other computing networks.
Advantages of eCommerce
- Faster buying/selling procedure, as well as easy to find products.
More reach to customers, there is no theoretical geographic limitations.
- Low operational costs and better quality of services.
- No need of physical company set-ups.
- Easy to start and manage a business.
- Customers can easily select products from different providers without moving around physically.
Disadvantages of eCommerce
- Any one, good or bad, can easily start a business. And there are many bad sites which eat up customer's money.
- There is no guarantee of product quality.
- Mechanical failures can cause unpredictable effects on the total processes.
- As there is minimum chance of direct customer to company interactions, customer loyalty is always on a check.