WHY E-COMMERCE IS DIFFERENT ?

WHY E-COMMERCE IS DIFFERENT ?

Why has e-commerce expanded so easily? The response lies in the exclusive nature of the Internet the world wide web.To put it simply, the Internet and also e-commerce technologies tend to be even more rich and powerful than earlier technology resolutions.Let discover each of these special features in much more aspect.

• Ubiquity

Through a consumer observe ,ubiquity reduces transaction costs-the costs of taking part in market.To work business, it is no longer required that you simply spending some time or none traveling to a market, and far less mental effort is required to make a order.

Within traditional commerce, a market area is a physical location, for instance a retail store, which you visit to transact business. E-commerce is ubiquitous, meaning that is it availed just about everywhere, at all times. It make it possible to shop from your pc, at home, at vehicle , using mobile commerce.

• Global Reach

E-commerce technologies allows commercial transactions to mix ethnic and also nationwide boundaries far more conveninetly in addition to costs efficiently than does work in traditional commerce. Consequently, the potential market size for e-commerce merchants is approximately equal to this size of the world online population.

In comparison, the majority of traditional commerce is local or regional it involves local merchants or nationwide merchants with local retailers. Television and radio stations and magazine, for instance, are mainly local and also regional organizations with limited, yet effective, national network that can appeal to a national audience but easily cross national boundaries to a international audience.

• Worldwide Standard

One strikingly unusual feature of e-commerce technologies is that the specialized standards for conductinge-commerce are universal standards. They are shared by all nation all over the world and enable any computer to link with any computer regardless of technology platform each is using.It contrast, the majority of traditional commerce technologies change from one nation to the next. For instance, television and radio criteria differ all-around the world and enable any kind of computer to link with some other computer regardless of technology platform every using. On the other hand, most traditional commerce technologies differ worldwide, as does mobile phone technology.

The universal technical standards of the internet and e-commerce greatly lower market entry costs- the cost merchants must pay only to bring their goods to market. At the same time, for consumers, common standards reduce search costs the effort required to find ideal products.

Summary

E-commerce really bring much beneficial to people. for example there is more rich and powerful than earlier technology resolutions. It also can be allows commercial transactions to nationwide.