E Commerce

E Commerce

What is e commerce?

E commerce or electronic commerce is any business or commercial transaction which is done online. It connects the transfer of information or money across the internet. It covers different variety of business from retail sites, through auctions, music sites, to business exchanging trading goods. Ecommerce is currently one of the most important aspects of the internet that has emerged.  Ecommerce emerged in the late 1970’s. what’s good about ecommerce is that there are no barriers of time nor distance, ecommerce has expanded over the years and I believe that it will continue expanding.
Advantages of e commerce

Ecommerce allows the users or the buyers a faster way of selling and buying products. You can also use ecommerce sites everyday and every hour. It has no closing time and its open 24/7. It is also good for business that doesn’t have company set up or building set up, ecommerce gives small companies an equal chance to sell.  Ecommerce is also very easy to start and manage; costumers can easily select products and even compare them.
Disadvantages of e commerce
These are some reasons why ecommerce is not a big industry on the internet.

Ecommerce is not always goods, it also have its bad qualities. Many bad sites that are created can eat up money or take money without the costumer knowing, there is also no guarantee of the product’s quality. Mechanical or technical difficulties may also occur and may interact with the paying or the transaction. Also security is a big problem, there is many hackers around who are always look for opportunities and ecommerce sites like banking and auction sites are their main targets. 

Online banking

Online banking was introduced in the 1980’s. Internet banking allows customers to control their financial transactions on a website via online.  Online banking is now become much more common; you can access your account quickly and check your records.  Online banking makes everything so simple with what you do financially; you can access it anywhere if there is internet. It makes your financial life much simpler to manage.
Advantages of online banking to the customers

One of the main features of online banking is that you can pay anything online, pay your bills etc. You can also view your previous transactions; you can check your account history. This is the quickest way of checking your account and looking after it. You can also see if there is any unauthorized transaction quickly and therefore you can report about it faster and actions can be taken faster.  You can transfer money via online; it’s effective, convenient, efficient and faster.
Advantages of online banking for banks

Banks having online banking also attracts more costumers, and maybe the banks itself may gain more profit. It will make their bank more popular and boost its appearance and trust worthiness. Having online banks also mean that the bank company is expanding its business and its target audience by being used world wide.
Disadvantages of online banking to customers

Just like all of other sites, online banking has its disadvantages too. The lack of trust is one of the biggest problems. Online banking can be difficult and complicated if you’re a beginner. Security concerns are also a massive problem that needs solving. Most costumers always have a feeling that if there account is safe, they always have doubts as they know that hackers are always around.
Disadvantages of online banking for banks

For the bank itself, if the online banking is a failure then people or the customers would also think that their actual bank would be a failure or is a failure. This would give the bank a bad image and might lose some of its costumers.

Shopping Online

Online shopping is now very popular. Many people use it instead of actually going to the shop itself. They find it more convenient and easier as there is no need to travel which means saving money and time.
Advantages of shopping online to customers
You no longer have to wait in the queues as they will deliver it to your house and al you have to do is click, the online shopping is also open 24/7. You can save your favourite items and the online website can make recommendations. Online shopping also gives the costumers a wider variety of stock to choose from which one of the biggest advantage is.
Advatages for the business

Having shops online gives a shop like Tesco another feature. This makes them more flexible. This boosts their appearance and makes the shop looks good. This will also increase their popularity and will definitely up their profit.  This is also a good way of expanding their business.
Disadvantages to the customers

Shopping online is not always good. Obviously you won’t or can’t try out the goods, like feel the weight etc. Also going to the shop itself, saves some money and you won’t have to pay extra money for deliveries.  There are also no delays; you don’t have to wait for the goods to be delivered. The goods you bought is yours and can be taken immediately. One of the biggest advantages on shopping on the shop is that you pay with cash, some people doesn’t want to use their credit cards due to security concerns.
Disadvantages for the business
 They will need to pay large amount of money to create and maintain the website. Other shops also have online sites which means there are a lot of competitions around.

Auction online
Advantages of auction online to customers

Selling and buying online is a big hit now a day. Few online selling sites are now created and functioning very well.  EBay is one of the success stories of selling products online. Ecommerce gives small business a chance to expand especially when they actually don’t have a shop and just purely internet controlled. EBay was founded in the mid 1990 and still going on from now. For this kind of business, trust plays a massive role. Setting up an auction of your own is very simple; you have the control of everything. The whole auction, buying and selling builds and open mutual trust to both seller and buyer. Also big asset for online auctioning is that it’s global. It opens the door for international markets and helps them to expand.  Auction sites also help new businesses that offer new products.
Disadvantages of auction online to customers

Auctions online is full of scammers. Some people sells fake products and just take money. Also if your account or site is not very trustworthy, no one would be attracted to use or even go on it. You have to have a big and good reputation enable to sell. There are also chargers for selling or even setting an account in some auction online site like EBay. The right of testing the product is also out of the costumers’ hands; they can only see the items and cannot test it or touch it. Some people may also take time to respond to emails and some may take time to pay out for goods.