In this article, we will discuss Benefits of E-Commerce. So, let’s get started.
Benefits of E-Commerce
- Proximity Between Buyer and Seller:
- E-commerce enables sellers to come closer to customers that lead to increased productivity and perfect competition.
- The customer can also choose between different sellers and buy the most relevant products as per requirements.
- Customers now have access to virtual stores 24/7.
- Wider Range of Buyers and Sellers:
- It provides a wider reach and reception across the global market, with minimum investments.
- It enables sellers to sell to a global audience and also customers to make a global choice. Geographical boundaries and challenges are eradicated/drastically reduced.
- Reduction in Product Distribution Cost:
- Through direct interaction with final customers, this e-commerce process cuts the product distribution chain to a significant extent.
- A direct and transparent channel between the producer or service provider and the final customer is made.
- This way products and services are created to cater to the individual preferences of the target audience.
- Other Benefits:
- The growth in the e-commerce sector can boost employment, increase revenues from export, increase tax collection by ex-chequers, and provide better products and services to customers in the long-term.
- The e-commerce industry has been directly impacting the micro, small & medium enterprises (MSME) in India by providing means of financing, technology and training and has a favorable cascading effect on other industries as well.