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Electronic Commerce ( E-Commerce)
What is E-commerce?
Electronic commerce, or E-commerce , which literally means buying, selling, marketing, and servicing of products or services over computer networks, has been around since mid 90s. However, recently, E-commerce is getting more and more attention from entrepreneur and consumers, both local and international. The reason for this could be due to the highly successful operations of some well-known names on the Internet, such as eBay, Yahoo and Dell. The sales revenue these companies shown in their annual reports are without doubt, one of the biggest factors why E-commerce is important in the commercial market nowadays . |
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Why E-commerce?
Benefits of E-Commerce
- No Rental of office space required – Very low cost
- Limited manpower required – Very low cost
- Paperless transaction – boast efficiency and lower cost
- Overseas market – Very large markets potential – Huge profits
- Earning money 24hrs a day, 365 days a year – huge profits potential
- Cheap setup one time cost. – Low cost
- You do not need to be physically there to monitor the progress and you can concentrate on other areas that require your attention - You can focus on your core competencies using your e-commerce site as another diversification.
- E-commerce is in a nurturing stage in Singapore – A Huge growing potential
- Allow interactions in the e-commerce site (forums, blogs, news submission, games, real time currency converter, event-calendar management) - Can be used as a powerful marketing tool
- Auto-generation of receipts to the buyers-low monitoring requirements
- You can used your E-commerce site forever. Only cost required are the domain name and web hosting space cost of less than $150 every year. - Very Low Cost
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