Advantages and Disadvantages of e Commerce
E commerce business has revolutionized the consumer and business sectors. Customers have a wide range of products to choose from for day-to-day use. Think of any product; you’ll find an entire shop online. The time has come when Alibaba, Amazon, eBay are not the only ecommerce Giants. Now, there’s a website serving customers for different items exclusively. Can there be any downsides to shopping online or starting your own ecommerce business? If you are still doubtful, here are some Advantages and Disadvantages of e Commerce to consider.
What are the Advantages of e Commerce?
There are numerous E Commerce advantages and disadvantages for customers and businesses. Startups and entrepreneurs can start their own ecommerce chain while customers leverage lots of benefits from ordering online to doorstep delivery.
1. Ease of Access to products
Online shopping is one of the major pros of e commerce as customers can select the best products from a wide range of items. Ecommerce allows consumers to buy products from anywhere and anytime.
According torecent studies, the Covid pandemic has accelerated the use of digital platforms for shopping. You can select items from the comfort of your home using a phone or computer.
2. Unrestricted access to global consumer market
As a seller, you get to expose your product to customers worldwide. This is something you couldn’t achieve through a localized market; also, with the invention and trend of digital marketing, businesses can connect to customer groups via the internet.
The product you want to sell can be posted online, and customers can get to it in just a few clicks.
3. Variety of choices are notable advantages of ecommerce for customers
You can get a limited product range in stores in your area. In contrast, the number of choices available on an e commerce store is unlimited. Multiple options are available in each category, and there is something for every user.
There no hassles of finding the product of your choice by roaming around different shops. Also, the product description is available with the product with in-depth reviews.
4. Easy Cancellation and Refund
You can change your mind if the product you ordered doesn’t meet your expectations. You are not under any obligation to accept it in case you don’t want to buy one. You can cancel the product while it’s midway and apply for a refund.
Many websites like amazon also give customers a week to return the product if they don’t like it. If there is any problem with the item or its being tampered with during the transit, you have a right to complain and ask for your refund. This freedom is one of the e commerce advantages for customers.
5. Discounts and coupons
Most customers shop online and pay through digital wallets these days. While various banks provide discounts on online purchases, even e-commerce companies provide discount coupons for online transactions.
This way, both banking and shopping processes become easy and hassle-free for customers. You can save more on purchases availing discounts and transacting online every time you shop. More and more customers are encouraged to use digital wallets, which is one of the considerable advantages of ecommerce business for vendors and consumers.
6. Advantages of E-commerce for businesses
The market of e commerce business is providing is very big for those in production, marketing, and delivery businesses. Anyone who wants to sell any products from any part of the world can join partnership programs offered by e commerce websites. Affiliate marketing is one such business through which non-vendor can earn easily by promoting certain products.
What are the Disadvantages of e-Commerce business?
The pros and cons of e commerce can be measured on different scales from trustworthiness to consumer-friendliness. Here are some e commerce disadvantages that can even become problematic for consumers and vendors.
1. Uncertainty about product quality
As the product is seen through pictures, the actual quality of the product when delivered can vary from person to person and product to product. For many products, size and color differences are a problem for customers, and the return of products can be extra legwork.
2. Delivery Delays are common disadvantages of e-commerce business
Even the fastest e-commerce courier partners can provide the product with at least a day to count. So the things have to be planned and purchased beforehand, and you cannot make the last minute shopping for any case. Delay delivery in orders can be painful for customers who are in urgent need.
3. Varying costs
When the products are purchased directly, referral costs of the product and transportation charges are not there. While the online products include the referral commission and delivery costs, some available products can have a huge difference in product cost. Paying extra for the same product is one of the significant disadvantages of e commerce business for customers.
4. Faulty and Broken Items
Even though vendors guarantee and assure product safety, the products are delivered to you after a long journey starting from the warehouse. The loading and unloading at various points may have an impact on delicate products. The faulty or improper packaging or handling may be the reasons to damaged products.
Also, in some cases, faulty products are packaged from the warehouses even if a vendor claims their products are okay. This is a problem when there are a large number of users buying the same products.
5. Some customers still like to shop outside their homes
While the fun of exploring the market for the combination of the right product and right price, the job is made automated by the e-commerce business. So for those who like going out to market, the laptop or mobile screen can be a smaller place to look around.
Lack of mobility is one of the major disadvantages of e commerce for customers who like to be on the move or love bargaining in person.
6. Online Frauds are the most threatening disadvantages of e commerce
With the increase in a number of online purchases, the number of online frauds are also increasing. It is very easy to find fraudulent websites and advertisements, so if you find catchy ads and discounts, you need to verify the sites and try to make purchases from known websites.
Offshoot e-commerce websites can easily dupe customers by fetching customer details from Debit Cards or Credit cards. Shopiiee.com, takesaree.com, fabricwibes.com, kasmira.in, efinancetic.com, thefabricshome.com, thermoplastic.site, etc., are some of the fake e-commerce websites in India. Most of these fake online shopping sites were active during the Covid-19 crisis.
Conclusion on e commerce pros and cons
For the internet generation, it can be a good idea to find things with no geographical limits. But for those who are not tech-friendly, e Commerce business is not a good idea. Overall the boom e commerce sector has been seen in the last few months.
Daily there are new websites available with lots of products, and there are very few things you cannot get online. It is completely up to your experience over online shopping. While this is a good place when you are experienced if you are new, be aware of the fraudulent websites and promotions.