Advantages of E-commerce

Advantages of E-commerce

1. Operational cost: It is easy for an entrepreneur to set up an online business instead of physical because it is inexpensive from taking payments, warehousing products to shipping it to the final consumer. As it becomes a successful one can add more inventories or do more advertisement to earn profits. It will also reduce the infrastructural and labor cost.
2. Sell 24*7 hours: In physical stores, there is a restriction on timing but when selling online then there will be no restriction. One can sell 24 hours a day, due to which more no. of customers can visit the merchant website. It is difficult for working people to go to the mall/shop to buy something, so it is an easier way for working people to shop.
3. Reach globally: As business is started online, it can cover a huge population instead of the physical store. It expands from the region to the whole world. That’s why the size of e-commerce equals the size of the world. It involves billions of online population and millions of companies.
4. Easily comparable shopping: Customer can easily compare the product of one company with another to know the quality product at affordable prices. The comparison of products is not restricted from a single seller or single geographic region but one can compare goods globally.
5. Safe and secure than a physical transaction: Various protocols and software are used to protect the client information and data like PIPEDA and there are fewer chances of theft and harm to goods, so use of right cyber security is helpful in protecting payment fraud (Faraldo, 2016).

Conclusion As e-commerce is increasing day by day, it surpasses the geographic limits and retailers can meet the needs of local and global customers. Retail e-commerce sales will surpass Canada’s total sales, which will be beneficial for both to the retailers and the Canadian economy as well. It is widely increasing day by day due to increasing internet facilities. The companies are coming with more appealing ideas so that customers are more attracted to their products instead of different product providers without moving physically.

References:

Duncan, E. (2018). E-commerce in Canada. Retrieved from https://www.statista.com/topics/2728/e-commerce-in-canada/

Faraldo, D. (2016, February 18). Canadian POS. Retrieved from https://cdnpos.com/4-advantages-to-investing-in-an-e-commerce-solution/

The Government of Canada. (2014, March 24). E-Commerce. Retrieved from https://canadabusiness.ca/blog/e-commerce-what-to-consider-when-selling-online-in-canada-1/

PEI government. (2018). E-Commerce: Purchasing and Selling Online. Retrieved from https://www.gov.pe.ca/photos/original/IPEI_ebiz_ecomm.pdf