E-business is basically dealing with your customer through internet as you put up your products in your website and costumers directly makes a purchase from there.
What is Electronic Business? – Meaning
The process of conducting a business through internet to make sales is known as Electronic Business.
Electronic business is selling product or service through virtual medium/ internet.
The online transaction between two people in which one person gets the good or service and the other person earns money.
The business in which the seller directly connects with the buyer through internet without the interference of a middle men is an Electronic Business.
The online sale that happens through internet without the engagement of any person is known as E-business.
Advantages of Electronic Business
- It removes the distance barrier and makes it possible for anyone to buy anything from anywhere around the world.
- The cost of products are cheaper than the cost of setting up a shop, transportation and labour force is reduced.
- It can easily cater a wider range of customers.
- As government is constantly asking people to move towards digitalization, a lot of discounts and cash backs are there in online payments.
- There is no particular time when people have to shop because people can buy things anytime when they have the internet access.
- Customers don’t have to spend time going to the store and waiting in the cash counter to purchase anything.
- Wide range of options in comparison to the stores.
- Easy return options is the new thing now in my E-commerce sites.
- It is easier to engage with your customers and find your potential customers.
- Coupons and discounts are good treats for the customer but at the same time it stops bragging which is in the favor of seller.
Disadvantages of Electronic Business
- You go to the store pick anything and do the billing and the thing is yours but in E-business when you like something you have to buy and wait for few days till it will be delivered.
- There are chances that your product does not come in best condition due to the rough handling during the process of delivery.
- As everything is done online, you hardly get a review from the shop employee like it happens in a store and contacting customer service can be a headache sometimes.
As, most of the brands and services have come online now it has brought the world a lot closer. Now you can buy anything anytime without having to worry about the parking and cash queues.