The Concept of eCommerce

E-Commerce

Electronic commerce, or ecommerce, is the system of selling and buying service and goods through the internet as the primary means of exchange. Basically, it is a kind of business that manages both payments and collections electronically.

Are you looking for brilliant ecommerce website development services in Malaysia? Before taking any major step with regards to your ecommerce project, make sure to do in-depth research first.

The Disadvantages and Advantages of Starting an eCommerce Store

Advantages

1.Larger profit margin.

Market extension and cost reduction mean that a much bigger profit margin can be generated compared to a traditional store. The more items sold, the bigger the profit.

2.Scalability.

Scalability means that online business owners can sell to thousands of people all at the same time. With physical stores, there is a limit.

3.More customers.

Through ecommerce, business can reach out to potential customers from all over the world.

4.No schedule.

An ecommerce platform don’t run on strict schedules. It is open 24 hours a day, seven days a week. This means that customers can buy products and services anytime, anywhere they want.

5.Less costs.

Since there is no need for a physical store, the cost of running the entire business would be reduced.

Disadvantages

1.Lack of trust.

Many people still don’t trust online payment methods. This can be solved by integrating an SSL certificate the encrypts the transferred details.

2.Services and products can’t be touched or seen.

Every customer would want to make a good investment. Make sure to add high-quality videos and images to your online product catalogue.

3.Required internet access.

To purchase products, people need connected devices. currently, lots of people have this type of access, but for some people, this can still be considered as a problem.