Post about "E-Commerce"

E-Commerce Adoption in the Developing Nations – Part 1 – The Benefits of E-Commerce

E-commerce is the new way of doing business. It is highly changing and affecting the whole way of global business transactions. Nations need to integrate this technology in order to compete and secure their survival in the global market. In the course of integration of E-commerce there is a huge divide called the digital divide which segments the world nations into two categorizes. The first are the developed nations, with high E-commerce and Information and Communication Technology (ICT) integration hence getting tremendous benefits from the global competition, and the others are the developing nations with low integration of E-commerce and losing benefits of the global market competition.

The definition of E-commerce in our context is in its broader sense which includes doing business activities over the Internet. These activities may include browsing business information, e-mail, selling and buying products and services over the net.

The adoption of E-commerce in the developing nations is mandatory and should be addressed effectively. This article will address the process of adopting E-commerce in these nations. First let us see how E-commerce benefits them.

1. Availability of useful information

The Internet is a huge resource center for any business information; suppliers, resellers, distributors, importers, exporters, products, services, you name it. Enterprises can get any kind of business information from all over the world right from their desktops. The Internet achieved fast, secure and useful access of information. Today, information being a power in the business environment, the integration of ICTs and Electronic commerce is a crucial step for every developing nation.

2. Reduced costs of Advertising products and services

Reduced advertising cost is one of the major benefits E-commerce gives to enterprises. Websites serve 24 hours a day and 7 days a week all over the world. Besides, the cost of owning a website is much less compared to the benefits they provide.

3. Fast and efficient supply chain management

People buy and sell online in the simplest and easiest ways. Buyers have whatever they need right on their desktops and sellers can reach their customers wherever they are just right from their tables. Besides, the process of buying and selling goods especially that of digital goods is a matter of minutes no matter where sellers or buyers are located. There are no middle men needed, no limit or border. The process will end between the seller and the buyer just in minutes saving much time and energy.

4. Greater market reach

E-commerce knows no boundaries. Geographical limits do not seem to exist. Enterprises can reach markets that can be found in their opposite corner of the world in no time. This is one feature of E-commerce; making our globe a very small village.

5. Enhanced customer care

Customers are treated well enough through enterprise websites. They can get whatever information they need, view products of their preference, compare prices, get in contact with vendors, and buy simple and easy.