There are many advantages when there is use of e-commerce, such as catalog flexibility and fast online updating, lower competitive gap, unlimited market place and business access, lower cost for business, and easier business administration.
First the flexibily and fast online updating, it gives a direct linking capability to view other websites have developed, then for catalog, we can update it anytime when there is a new product or price changes without reprinting physically which cost higher.
With the existing and the use of e-commerce, the competitive gap has been reduced because using e-commerce to conduct a business, the ability to reach customers has increased and able to reach customers globally. By applying e-commerce, new businesses does not need to compete equal footing such as number of retail stores with bigger companies.
There is unlimited market place and business access because of e-commerce have the ability to provide customers 24hours shopping which enhanced the chances of getting sales. Besides the time, it is very convenient for customers to do shopping at home, office and maybe on the road with mobile devices. As mention, e-commerce have the abilty to reach customers worldwide which increases the business access.
E-commerce also helps to lower cost for conducting a business, a physical store is no longer the only way to do business. By applying e-commerce, inventory cost can be reduced because the systems know when there is a damand for a particular stock, it will immediately order the item and start processing to customers. It also may eliminate the need of physical store, such as Dell and Amazon.com.
Lastly the benefit of e-commerce is that it helps administration of business easier with the implement of software, data of customers are being stored automatically. Stocks are able to be monitored on real time basis and auto replenish stock.
Prepared by Ng Thim Soon