Though it is a relatively new concept, it has the potential to alter the traditional form of economic activities, E-Commerce provides the capability of buying and selling products and information on the internet and other on-line service.
E-Commerce has presented opportunities for retail /trade companies to get closer to their customer to explore new products in their comfort zones to later pretest them with their real customers.
Moreover, almost everyone is online these days and by opening an online store, you open your shop up to a large market of people from different places. E-commerce allows people to discover new products, to locate them and actually enable purchasing over a wide range of stores.
‘’By connecting with this incredible marketplace, you can grow sales and your customer base to a far greater degree than if you only exist offline. Once you’re E-commerce enabled you can sell well beyond the borders of your usual consumer base.’’
Furthermore, it creates the possibility of new models for organising production and transacting business, by offering inters modality, complementarily and changes in market structured opportunities for economic growth created by organisational change.
References/ Sources
www.scalefast.com
www.oaji.net/e-commerce
www.savethehighstreet.org/e–commerce-help-grow-business
