E-commerce became very popular in the last couple of years it made buying and selling very easy for the seller and the buyer. It became an easy tool for customers to get what they want with doing any effort. so if you think of starting up a new electronic business here is the Advantages and disadvantages of it.
Advantages of E-commerce
Low Financial Cost
E-commerce does not need to have a big startup cost since the retail business needs a lot of money like store signs, store design, inventory purchase, sales equipment, and more. This is avoided by e-commerce.
Depending on what type of e-commerce business you run, you may only need to hire employees when you grow to a certain level. If you choose to dropship, you won’t need to buy bulk inventory saving you a lot of money.
One advantage of e-commerce is that online stores are always open to business. With your ads on Facebook, you can attract someone at 11 pm. Or at 4 am.
Open 24 hours, unlike other stores. You can attract customers all day by adds on Facebook and other social media also customers can order your product at any time, unlike other stores that open often from 9 AM to 9 PM.
Small equity capital
E-Commerce doesn’t need big equity capital to start up your business but Regular stores have to pay thousands of bounds for rent, employees and equipment also if what you trade in is very valuable you need to hire security.
You have the ability to sell your products internationally to anyone around the world by shipping it with FedEx and such ways.
Easily showing off
You can easily show your products. For example, if you trade in clothes customers can easily see it on your web site, you can hire a photographer to photograph your products and a designer so you can make it easy to show.
One of the most advantages of e-commerce is hiring affordable employees like outsources or freelancers also you can hire employees from countries that the cost of living is low so you can bay less.
Disadvantages of E-commerce
one of the worst disadvantages of e-commerce is when your site is crash so no one will be able to buy anything so you should have a good developer for your site.
lake of face to face treatment
Sometimes buyers feel afraid of buying online because they don’t treat with the seller face to face or see the products on real.
E-commerce stores record all the important details about the customers which are to be kept secured because it includes details like name, phone no, address, and bank details. So if your site was hacked it will be a big problem for your customers.
E-commerce is very competitive
E-commerce became very competitive because this field is in growth so many people decide to start up their own E-commerce business so you have to keep up with all the new things in this field.
Customers Can Be Impatient
in the sores, there is someone standing to answer the questions of customers but in online stores, your customers may not be very patient to wait for the answer.