E-Commerce Swot Analysis

E commerce is the business of conducting business or commercial transactions, through electronic communications, utilizing computers, smartphones, and tablets. The 2 main types of e-commerce are B2B (BUSINESS TO BUSINESS) and B2C (BUSINESS TO CONSUMER). E-commerce has been around for more than 30 years but has been popular to the general public for the last 10-15 years. E-commerce has been maybe one of the most customary expressions in this digital era. Although e-commerce was some time ago looked upon basically as a superhighway to riches, it has actually changed people demeanor toward conducting business. The early years of e- commerce prior to 1995 E-commerce was through potential by the progress of electronic data interchange (EDI), the

One of the main advantages of e-commerce is the triumph over geological restrictions. With e-commerce, the world at your fingertips, either as a seller or buyer you are not subjected to being in a geological area, but rather any region in the world connected to the networks of networks. Another advantage of ecommerce is one of the most solid encouragements of ecommerce and it refers to the lowered cost. A component of these lower costs could be passed on to consumers in the variety of discounted prices as an example. In addition, the automation of checkout, billing and inventory management and other operational processes call for fewer amounts of employees needed to operate an e-commerce business, which can also eliminate the need for a physical location for your business. Being able to locate a product quickly and easily all while getting valuable information about said product and comparing prices from different vendors as well as reviews from other customers, all contribute to what it e-commerce truly means. However, e-commerce also brought forward some negative impacts along with it. To give insight on the negatives that regards the disadvantages of e-commerce; let’s look at the main contributors. First, the delay of purchasing goods online often means that you won’t get your purchase right away, as oppose to running into a store and physically getting your purchased item right then and there. It also means that your purchase can fall prey to theft or been lost, which is why it is important to check e-commerce return and replace policy prior to purchasing an item online. Secondly, while e-commerce brings the convenience of shopping from different vendors from a remote location, some items just simply can’t be purchased online,