Wikipedia defined Electronic commerce commonly known as E-commerce or eCommerce is trading in products or services using computer networks such as the Internet. In other word E-commerce refers to the use of the Internet and the web to transact business.More formally, e-commerce is about digitally enabled commercial transactions between and among organizations and individuals.For the most part, this means transactions that occur over the Internet and the web. Commercial transactions involve the exchange of value across organizational or individual boundaries in return for products and services. E-commerce has been with us a long time now. It has improved its payment gateways and it has completely changed e-commerce consumer experience. And with the smartphone market booming, e-commerce become more popular. Example of e-commerce are amazon, eBay, Lazada, Zalora and many more.
- Impact e-commerce to customer E-commerce make our life become more easy and convenient especially we as a customer. Customers not need to make a long queue to pay what they buy at counter, they can buy what they want anytime 24/7/365 if they have an Internet connection which is consider as faster buying procedures. With the search engine like Google, Internet Explorer customer can make price comparison to search the lower and the best price. Nowadays, there are shopping price comparison website that make customer become more convenient to make price comparison, there are also many choice to customer to choose. For customer who live in rural area and not situated in urban center, e-commerce make their life become more easier because they can buy what they like without going to town, so this will save money and time instead of paying for petrol, toll and parking, not need for customers to travel long distances to reach their preferred physical store, e-commerce allows them to visit the same store virtually, with a few mouse clicks.
Customers can easily select products from different providers without moving around physically. Smartphones and tablets have become the mobile devices consumers use to
shop in virtual stores. Mobile commerce offers mobility, it is
time-saving and it does not require a fixed internet connection. But when buying thru e-commerce customer cannot touch, feel, hear, taste and smell before they buy, it takes away that luxury.
- Impact e-commerce to business E-commerce give a lot of impact to the business industry. First of all business not need to have physical store to operate their business, so it need a very low cost to running the business. If u running e-commerce business, not need to rent a store, paying utility bills and hiring workers. When you need a low cost to operate the e-commerce business you can offer a lower price of your products to the customers like offering coupons and discount. For example Lazada.com offering free shipping fee and 10% discount if customers paying with credit cards in every Friday, new customer are given RM10 coupons if they register as a members. Your e-commerce store open 24 hours a day, 7 days a week and 365 days a year and your customer can shop anywhere anytime they want. There are also opportunity to reach a new market faster rather than operate in traditional way because when we cannot locate our store in rural area or some place that hard to reach e-commerce store are possible. In your e-commerce store you can sell anything you like and you not need to keep the stock of your product because your supplier will keep the stock, when the customer want some items just contacts your supplier to deliver it. There are limitations to the amount of information that can be displayed in a physical store. It is difficult to equip employees to respond to customers who require information across product lines. E-commerce websites can make additional information easily available to customers. Most of this information is provided by vendors and does not cost anything to create or maintain. When your customer fill the registration form to become a members you can use these information to communicate relevant messages like email the customer of your new products, offering coupons and so on to make your customer coming back and buy at your e-commerce store. Unfortunately according to some research the growth of e-commerce affected some retail store like bookstores, travel agencies, music stores and some more. Some of the store need to close down because of decreasing pattern customer visit their store.
IMPACT OF E-COMMERCE