E-Commerce and Its Significance
The application of mechanical and applied sciences to the industrial use has greatly improved over the years. This era has lots of technological innovations leading us to the so called “Internet Age” or “Age of Digital Information”. Mankind now lives with computers, highly improved gadgets, and developed type of transportation and newly produced mode of communication. There is now a great shift from the traditional industry to an economy based on information manipulation. In line with this, is the strong increase in the production of telecommunication companies and different companies operate their businesses in an electronic way.
The issues on technological advances have brought marvellous ease in sending and receiving information with the transition from the advent personal computers to internet. Today, it serves as a medium for flow of information. People can exchange ideas, get up to date news and information and other business transactions from other users around the globe. Everything you wanted to do- research, study, “chat”, join social groups, apply and post a job is made possible when your connected to the internet. Thus, it is an advantage for business companies to use this equipment to keep in touch with clients or customers, with their retailers and other business partners at any time and any places. As a result, the nature of the old school marketplaces has been reinvented. Products are now being sold not only in market places but online as well.
But what does e-commerce actually mean? The e-commerce, also called as Electronic Commerce deals meanly with buying and selling of products and services over electronic system like internet and other computer networks. It works differently with E- business which is the exchange of information or business data between a company and a consumer over the internet system. E-commerce gives a great advantage for sellers. They don’t need extra money and effort to maintain a good space in a market place. They only need to provide quality pictures of their products to make it more attractive to buyers. Viewing these digital images in the internet and scrutinizing the product descriptions makes the buying more easily. For some products, they may only be available on a certain website created by companies. Such websites are called “e-markets” or “electronic markets”. On the other hand, purchasing by e-commerce is what we call “e-procurement” or “e-purchasing”. It is the purchase and sale of supplies and services between other suppliers or providers.
The conventional advantages of e-commerce have really helped people. With the click on the mouse, the product could be delivered to your home without the expense of travelling to other places where the product is only available. From basic commodities like foods, medicines, clothings to personal collections like music, videos, movies and even things for luxuries are all available in the internet. However, it may not be wise to buy a product online where you could just get it in a store in a corner street, for it as well take some time for it to be delivered.
There are several mode of payment in e-commerce. For online merchants, they may use traditional credit, debit and charge card and also includes new technology such as mobile payment, digital wallets and e-checks. With this system, on line banking is really increasing. You can now send and receive payments from different people from different places.
Check it out now. E-commerce makes great things possible.
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