Written by: Arya Tharu - 22006, Grade XI
Posted on: 28 June, 2021
First of all, Commerce is an act of buying and selling goods and services. It is a branch of business. In simple terms, we can call it to trade. Basically, Commerce is done on a large scale which requires a lot of manpower, transportation, and many others. But, due to a boost in science and technology the module of business has changed so far. E-commerce is almost the same thing but does not need manpower as in the traditional way of doing business. E-Commerce is solely based on the internet and is done online. The word E-commerce is made up of two words i.e., electronic commerce. In E-commerce everything is online, starting from buying to selling, the payment is also transmitted through electronic means. In this modern scenario, there is the widespread use of online platforms like Amazon, eBay, Alibaba, and many others.
The E-commerce businesses run with the internet, every customer can see the product on their screen and can place their order, the product is delivered after the payment. It is a new and modern platform for expanding the business. Customers can save valuable time as the online trade consumes less time. They can browse through many items and buy whatever they want. Also, the item can be found in a very few seconds. It will also be easy to find a bestseller and the product in the world. E-commerce provides no barrier. They can get access to the product from any corner of the world. There is no exact time for shopping, people can purchase their needs at any time. The cost has been fixed for all the customers, there is no such unfairness among people.
Some customers want to purchase things by inspecting them personally and it is very important for high-end brand products. There can’t be an internet connection in all parts of the world. Talking about Nepal, the internet connection has not been reached in remote places. But this concept is boosting rapidly as the new generations are more prone to technology. It is a good way of doing business but there are some flaws of this module as we also heard the news about credit card theft, identity theft in the payment process. There are lots of E-commerce businesses that don't care about the customers in many countries like Nepal. They don't have credibilities like multinational ECommerce like Amazon, Alibaba, and many more. This means there is a high risk of failure.
In the world of technology, E-commerce proves that it is a new way of doing business. Continuously, it is progressing and is creating a sensation in the new era. Slowly it is becoming a part of our life and playing a vital role in our daily lives as well.
