Advantage Of Electronic Commerce Essay

2.11 Advantage of electronic commerce
Offiong (2013) explained the advantages of electronic commerce as follows:
I. Opened for twenty four hours: As the commerce website is expected to be opened 7days a week,24 hours a day and 365 days a year, purchases and sales transaction can take place all year round. The customers have access to shop and buy products or services at any time of the day or night from any location that they have access to the internet. The customers can continue shopping even when the sellers is asleep or is on vacation.
II. Expansion of customers’ base and brand awareness: An e-commerce business is accessible to customers anywhere in the world. If your business is not online, you are likely to get customers mostly from

It offers so much in terms of ease and convenience as against oversea travels for shopping purpose.
IX. It also offers free return policy within a specified time frame.
X. Transaction costs. Three cost areas are significantly reduced through the conduct of B2B e-commerce
First is the reduction of search costs, as buyers need not go through multiple intermediaries to search for information about suppliers, products and prices as in a traditional supply chain. In terms of effort, time and money spent, the Internet is a more efficient information channel than its traditional counterpart.
Secondly is the reduction in the costs of processing transactions (e.g. invoices, purchase orders and payment schemes), as B2B allows for the automation of transaction processes and therefore, the quick implementation of the same compared to other channels (such as the telephone and fax). Efficiency in trading processes and transactions is also enhanced through the B2B e-market's ability to process sales through online auctions. Third, online processing improves inventory management and logistics.
XI. Disintermediation. Through B2B e-markets, suppliers are able to interact and transact directly with buyers, thereby eliminating intermediaries and