Why E-Commerce is Important Today?

The Chance of E-Commerce in Modern World 

E-commerce is the process of buying and selling of goods or services using online platforms. It is also called Electronic Commerce.  There are many companies doing this modern e-commerce for their business. Amazon, Shopify, Walmart, ebay, Alibaba are some top e-commerce companies in the world. E-commerce simplify the process performed by both the manufacturers and dealers.

Different Type of E-Commerce

1. Business to Consumer(B2C)
2. Business to Business(B2B)
3. Consumer to Consumer(C2C)
4. Consumer to Business(C2B)
5. Government to Business(G2B)
6. Business to Government(B2G)

 Reason for the E-Commerce Growth 

1. E-commerce provide direct electronic transaction with consumers.
2. People get the advantage of lower cost by reducing the intermediary transactions and unnecessary coordination.
3. Multiple choices are available in e-commerce platforms. This will attract the customers.
4. Faster buying and selling procedure are followed by e-commerce, which helps to improve the business of the marketers.
5. E-commerce is available in 24/7 for people. We can use any time according to our needs.
6. It provide global reach, there is no geographical boundaries for e-commerce.
7. It significantly reduces the paper works. All process is done over the internet.

Mode of Payments in E-commerce

• Credit or Debit cards
• Pre-paid cards
• Net Banking
• eWallet
• Mobile Banking
• Digital Banking

Impact of electronic commerce is nothing but the changes made in all segments of world. The important fall out of the growth of the e-commerce have developed in electronic markets. The changes made by e-commerce in all the possible area of the world. Electronic commerce expand the market place to national and international markets level. E-commerce is growing faster, this is because of the development of electronic markets. Hil Davis said that "E-commerce and Mobile commerce have dramatically changed the way brands reach customers, making it faster and easier for consumers to make purchase on the fly while avoiding the hassles of going to the store". There are lot of advantages experienced by the industries, consumers and the society. Learn more Why E-Commerce is Important Today?