E-commerce
Rikke discusses the importance of e-commerce as part of her online business
E-commerce, or electronic commerce, refers to the buying and selling of products and services using devices connected to an electronic A group of interconnected computers/devices., such as the internet.
Three things are required for e-commerce to take place:
- a seller who has products and services that are displayed electronically
- a buyer who has the equipment required to view the seller鈥檚 products and services, and a means of paying for them
- a network that enables information and payment to be exchanged by the buyer and seller
| Advantages of e-commerce | Disadvantages of e-commerce |
| Attract customers across the globe | More competitors from across the globe, making it harder for the business to get noticed |
| Sell at any time of the day or night | Employees may need new skills, eg website maintenance |
| Receive payments immediately | Procedures required for how products and services will be delivered and processing returns |
| Reduced overhead costs compared to running a physical shop | A need to maintain and update technologies, including security software, which may be expensive |
| Advantages of e-commerce | Attract customers across the globe |
|---|---|
| Disadvantages of e-commerce | More competitors from across the globe, making it harder for the business to get noticed |
| Advantages of e-commerce | Sell at any time of the day or night |
|---|---|
| Disadvantages of e-commerce | Employees may need new skills, eg website maintenance |
| Advantages of e-commerce | Receive payments immediately |
|---|---|
| Disadvantages of e-commerce | Procedures required for how products and services will be delivered and processing returns |
| Advantages of e-commerce | Reduced overhead costs compared to running a physical shop |
|---|---|
| Disadvantages of e-commerce | A need to maintain and update technologies, including security software, which may be expensive |