Let’s start from the starting point of eCommerce trading. Although it was introduced in 1960 when organizations started sharing their business documents with other companies. Also, it was known as Electronic Data Interchange (EDI).
In 1979, an American National Standards Institute introduced ASCX12. But this was a comprehensive and common standard for all the businesses to serve their confidential documents with other businesses.
As time passes, in the mid-1980s the usage of this electronic network became more often. But after the 1990s, some other development took places such as eBay and Amazon, As well as they refashioned the whole eCommerce trading industry.
Now the world has upgraded, consumers can easily purchase countless items from e-tailers, mortar stores, and typical brick with eCommerce trading effectiveness.
Ecommerce trading or Electronic Commerce deals with electronic trading of goods or services. Therefore, you can say that it is a process which deals with selling and buying goods/product or service.
Also transmits funds and data through any electronic medium, mostly internet. While it is referred to as the paperless exchange process of business information with Email, Electronic fund transfer, EDI, etc. It works on some transactions, they are as follows:
- Business-to-business (B2B)
- Business-to-consumer (B2C)
- Consumer-to-consumer (C2C)
- Consumer-to-business (C2B)
- Business-to-administration (B2A)
- Consumer-to-administration (C2A)
Why Ecommerce Is Important?
Ecommerce is important due to its easy accessibility, speed of accessibility, international reach, 24×7 availability, and wide range of items and services. Let’s have a deep look at these points:
Wide Range Of Items And Services:
Amazon initially introduces an online book store service and their slogan was “Earth’s Biggest Bookstore”. But this could be possible because of eCommerce; they don’t have stock every book on the shelves as libraries do.
As time passes, eCommerce trading increases its ranges of different items that it used to ship directly to the customer from the warehouses.
A mortar and Bricks business sells its products only to the customer, also who has physically visited their outlet. In eCommerce trading, there are no sure boundaries.
Customer can place the order from home without even knowing the location its outlet, not only from the same country but from anywhere around the globe.
Shopping physical took a hard time to search for the desired items in the market even sometimes took hours and days in searching.
Here in online shopping, visitors can search their items in a well-organized manner by just typing their category on browse, finding the item immediately.
E-Commerce sites are mostly available 24 hours and 7 days a week except for some scheduled conservation. It allows the customer to shop at any time.
But on the other hand, Bricks, and Mortar businesses serve to open a few hours a day and even closed on certain days.
Speed Of Accessibility:
E-Commerce shopping is quicker as compared to shopping physically because sites took only a few seconds to load.
Calculating the total time of searching plus choosing the items on any site can be done in a few minutes. However, physical shopping took hours because of the crowd or some other reasons.
It is one of the best cost-effective ways to do business without establishing a proper store. No need for spending too much time.
And money on the appearance of the store neither paying salaries to the employees/cashiers or arranging the money for rent or inventories. While money is needed only for shopping and warehouse an accommodation that is it.
E-commerce Sites used to track the visitor’s browse frequently in order to use that information for a recommendation. For example, if a visitor used to search for beauty products, these sites will figure it and give that visitor recommendation related to beauty products. Even it attracted their interest in purchasing.
Advantages Of Ecommerce Trading:
- E-Commerce Trading has various advantages but generally, as well as it is divided into 3 main categories. They are as follows:
Advantages Of Society:
- It decreases air pollution. While the customer orders their product from home without going on the road. And which helps traffic to get a nice flaw as well as no pollution.
- It helps in decreasing the overall price rates on almost every item that increases the affordability for every person.
- Also, it allows the rural people to have access to their service and product which were not in their reach.
- It also provides many other public services. And helps the government. Healthcare, as well as education, social services are available at a low cost.
Advantages Of Customers:
- The support system is available 24 hours, 7 days a week. Although the customer can flexibly place an order for any product or service from anywhere at any time all over the world.
- It has many options that ensure the immediate delivery of the product to the customer.
- The review section provides a benefit that the customer can make a final decision by choosing the item which has a more good review on it. But in the same way, also he can also give his reviews on those items.
- It has many options that give access to compare 2 products. So, the customer can buy their favorite products at the lowest price.
- It also provides fundamental and basic options for deals.
- Instead of waiting for weeks or days, also the customer has easy access to the proper description of the product. But just in a few seconds all the relevant information and details can be seen.
- It increases the competition between the organizations, so they start introducing different discount packages. Also, due to this customer gets many discount offers of their favorite items.
Advantages Of Organizations:
- An organization or a business can simply increase the number of customers, suppliers and deserving business partners all over the world. But in the same way, Also it helps an organization to grow in national and international markets at least possible capital investments.
- It helps to lower the cost rates by managing the paper documented information into digital information. For instance creating process, retrieving, distributing.
- It simplifies the business transformations, as the result makes the process faster and more effective.
- Reduces the workload of maintaining. And storing the file or arranging the paper documents.
- Works on boosting the market image of your business brand.
- Production of an organization is increasing due to “pull” type supply management. Thus, a business starts the process just after a request is placed by the customer. And completes it on the given time.
- Promotes an organization to serve better customer services.