THE IMPACT OF E COMMERCE ON BUSINESS
The most telling impact of e-commerce on business probably has been the ease of business continuity in the face of a global pandemic that has otherwise led to the closure of several businesses, regardless of size or industry. Doing online business gives numerous benefits to the entrepreneur like speed, flexibility, cost savings, wider reach, and so on. Let’s take a look at them in detail.
When you open a physical store capital layout, day-to-day expenses are high. There are costs of buying or renting space, money spent on furniture, storage costs, cost of electricity, utility bills, and so on. However, with an online store business, you only have to create an e-commerce website. With Toko businesses are able to create a website for free so costs are further reduced. So one of the impacts of e-commerce on business is that entrepreneurs have been able to drastically reduce their capital outlays and overheads to start and maintain their business.
With an online store, your potential customers can literally be anywhere in the world. With an e-commerce website, you are not limited by geographical borders. Your online store can be accessed almost anywhere in the world. This is not possible if you only have a conventional store. So another impact of e-commerce websites on business is that they can serve customers at any time of the night or day, on holidays, weekends, and so on. There are no time restrictions.
In addition, another impact of e-commerce is that it contributes to the growth of small businesses. With the introduction of the qamyab jawan program by the government, startup businesses or young entrepreneurs are able to create an e-commerce website with little investment and can grow their business. The impact of e-commerce is for the long. With technology becoming a part of our lives, it is only natural that online business becomes more popular every day. E-commerce is fast, flexible, and has immense potential, and we can only expect it to grow.