Impact of e-Commerce On Society: Advantages and Disadvantages

Uncategorized Feb 19, 2019

E-commerce helps buy and sell goods and services on the Internet. We offer an ideal e-commerce development to make your digital business and improve your global presence.
E-Commerce facilitates fundamentally the movement of goods from suppliers to customers.
Here we discuss the social and economic impact of e-Commerce on society, and the main advantages and disadvantages.

Role of eCommerce in Business

The main way in which e commerce will affect the economy, in general, is its impact on productivity and inflation. The continued expansion of electronic commerce could also lead to downward pressure on inflation through increased competition, cost savings and changes in sellers’ pricing behavior.

The role of eCommerce in business is that electronic commerce is synonymous with electronic commerce and involves the exchange of goods and services through electronic support. The number of electronic businesses has grown considerably since the Internet was launched.

Also Read: WooCommerce vs Shopify: Which eCommerce Platform is Better

E commerce Today

Today, in all aspects of our daily lives, the Internet has become an undivided part of our lives, as it has a versatile impact on our social activities. Every day, going to the bank to make cash transactions or withdraw money or go to the market to buy things and essential commodities is now quite difficult since there is no time, the human being has become too busy in his work and, So, in these circumstances, online purchases have become an increasingly integral part of our society, exceeding $ 200 billion in sales only in 2010.

The Internet economy is booming. E-commerce sales are expanding by leaps and bounds at a rate of 20% and 25% each year, indicating a far-reaching change in the spending habits of human clients. Internet instead of telephone directories or yellow pages for reviews of convenience products and to obtain updated information for your search and requirements.  

Also Read: Scope of e-Commerce

A business owner simply can not trust an ad in the phone book, in fact, customers are 15 times more likely to search the Internet than those who look in a phone book to call a company.

Each business is different in its aspect, even each business differs in style, promotion, and volume, but the power requirement is the same for everyone, but nowadays; It is important that life in the Internet world be updated with respect to the business transaction if you want to remain competitive with others. In the long term, the net operating cost of a website becomes insignificant compared to the return on investment provided by the advertisement.

Social Impact and Growth in e Commerce

SOCIAL IMPACT AND GROWTH IN ELECTRONIC COMMERCE

The impact of e-commerce and its commercial impact on society has varied according to the models.

Also Read: Reasons Why WooCommerce is Perfect for e-Commerce

The social impact of e-commerce can be measured by satisfaction and trust through the following factors:

  • Greater use of the Internet The fastest growing demographic segment includes students and youth.
  • This segment is the leading user of advanced applications and online technologies.
  • According to a survey conducted by the Internet and Mobile Association of India, the number of Internet users in the country was 190 million at the end of June 2013.
  • With more and more users on the web through telephony, it was expected that the country reached 243 million in June 2014, representing a growth of 28% over the previous year.
  • The growth in the number of Internet users has also led to substantial growth in other digital industries such as e-commerce, mobile commerce, and digital advertising.
  • The government of India has made efforts in the education system through the implementation of computer tools and techniques, essential for all educational levels, from primary education to the end of studies.
  • Students from urban and rural areas were sensitized by supplying the personal computer, Laptops, tablets or laptops with the use of the Internet and its advantages to improve lifestyle and provide electronic books and e-books.
  • Entrepreneurs are also attracted to advanced computer technologies and their usefulness for electronic commerce.
  • The development of educational standards at all levels has allowed a great demand for electronic commerce and m-commerce in the market.
  • Changes in online shopping habits The online shopping process is constantly being worked on to make it easier, more understandable and easier to use.
  • As online offers give some discounts and attractive prices.
  • This, along with better offers, has brought changes in the buying habits of online buyers

Also Read: WooCommerce SEO Tips

The main advantage of shopping online or online is that at no time one can know the characteristics of the item you want to buy and you can also compare the quality and its characteristics with another competitive brand available in the market along with the feedback result of Other users.

  • The cheerful lifestyle powerful influence of various social media tools.
  • Facebook, Quicker, Snapdeal, Amazon, Pinterest, and Instagram allow consumers to organize their favorite articles and collections segments to share with others around the world.
  • Therefore, society and groups of people or communities can be linked together to share their points of view and ideas.
  • This fuels personal expression in purchases and causes others to reflect on their purchase decision.
  • Increase in online payment.
  • Securities of online transactions have been a major barrier to the growth of electronic commerce.

However, the secure payment transactions provided by the website to Internet users are quick to overcome the fears. Security functions have four categories: authentication/verification, authorization, encryption, auditing, and integrity.

Also Read: Reasons to Choose WordPress

The Impact of e-Business on Society

The Impact of E-commerce on Society

E-commerce and online shopping in India are achieving remarkable and remarkable growth as more and more Internet facilities, high educational standards, lifestyle change, and the country’s economic growth are being used more and more. Demand for electronic commerce techniques and tools.

  • The versatile shopping experience and the rapid development of transaction facilities are further driving opportunities for the remaining market segments.
  • The greatest advantage of e-commerce is the ability to provide secure purchase transactions through the Internet and together with the almost instantaneous verification and validation of credit card transactions.
  • This significant impact has led to a greater number of customers to exploit various fields of electronic commerce for their benefits.
  • There is also a great national diversity in the adoption of electronic commerce, particularly in marketing and subsequent sales.
  • Now India is growing and now becoming the country with more amount of people with literate people in the world of the Internet.
  • The effect of increasing the transparency of E-commerce of the macro-level and micro level with the highest productivity.
  • The digital solutions that replaced traditional applications offer many opportunities for businesses and individual consumers.
  • The services are aimed at customers.
  • The products are negotiated too quickly
  • The number of errors reduced.

Also Read: Speed up WooCommerce

Benefits of e-Commerce to Society

Access for 24 Hours

If we buy from an online store, we spend low operating costs; we have a better quality of service and, therefore, additional costs can save us unnecessary costs. For example, if our goods or services are downloadable, shipping costs will be completely canceled. With every online business, more and more coupons and deals cannot be avoided, which is quite awesome for customers.

Compare to Actual Buying, Through Online the Price Gets Reduced

If we buy from an online store, we spend low operating costs; we have a better quality of service and, therefore, additional costs can save us unnecessary costs. For example, if our goods or services are downloadable, shipping costs will be completely canceled. With every online business, more and more coupons and deals cannot be avoided, which is quite awesome for customers.

Also Read: WordPress Automation Tools

Global Market Place

Global Market Place

Every customer from all over the world can find the site, product, and information without leaving the house. In e-commerce, we do not need to visit the business physically. The facilities of the physical firm are not the criteria to be taken into account. We can buy from us at home; users can easily choose products among various procedures without having to physically move.

Easy to Compare Prices

Everyone can easily compare product prices of different companies and products in terms of quality and quantity, or the services provided with them. price, because prices are easily comparable.
They are accompanied by various specification while when the products are put online. They are finding various methods to compare with them and set us to attract them. So far, additionally to the terms offered within the exchange, electronic commerce is that the market nighest to the model of good competition.

Return of Goods

Return of goods

Returning goods online can be problematic. Uncertainties about the upfront payment and delivery of goods can be exacerbated during this process. Will the goods be returned to their source? Who pays the return fees? Will the refund be paid? Will I have nothing left? How long will it take? Compare that with offline experience of returning goods to a store. It is important to consult the return policy before buying. Always make sure that returning goods is an option

Also Read: Customize WooCommerce Product Page

Pros and Cons Of e-Commerce

Advantages of e-Commerce to Customers

  • Provide details of the virtual showcase on websites with online catalogs.
  • Reduced prices due to contests (coupons and offers).
  • Access and convenience 24 hours.
  • The global market for the purchase or sale of the product.
  • Provide secure business transactions
  • It is easier to compare prices with other premium brands
  • Do not stay online or be held forever
  • Many options and range (options and options)
  • Return products if it is of lower quality
  • Time savings and reviews of easy review.

Advantages of e-Commerce to Business

  • Increase in potential market share by increasing the customer base
  • Use of EDI, B2B data exchange
  • Low barriers to items
  • Provide safe business and instant transactions
  • Participate in retail for the launch of new products and services
  • 24/7, 365 days of sales (buyer and seller)
  • Expanding the scope of the business
  • Main warehouse administration
  • Reduction of employee costs

Also Read: What is New in WooCommerce 3.5

Disadvantages of e-Commerce for Customers

  • Unable to personally examine the products
  • Privacy and security in online purchases
  • Fraud with credit cards
  • Delays in receiving products
  • Inability to identify fraud
  • Guarantee/guarantee
  • Quality
  • Hidden cost
  • Lack of personal interaction
  • Website fraud.

Disadvantages of e-Commerce to Business

  • Update hardware and software regularly
  • Website maintenance at a periodic interval
  • Additional costs and expertise for electronic commerce infrastructure
  • The readiness of the site
  • Training and maintenance Customer loyalty
  • Outstanding logistics needs
  • Security and credit card issues
  • Fraudulent orders
  • Sufficient internet services

Also Read: WordPress Rich Snippets

e-Commerce Issues and Challenges

Credit card and Online purchasing problems
  • Security aims to be a major problem in electronic commerce.
  • Everyone, good or bad, can easily open a website, and there are many bad sites whose goal is the money of cybercrime users.
  • Before making instant online transactions, be sure to check the site security certificates.
  • It is easy and convenient to buy, No one needs the personal details to set the adoption of electronic commerce, that is mainly in marketing and sales.
  • India is gradually becoming the country with the largest number of literate people on the Internet in the world, and Internet penetration is largely due to mobile phones, and some of the cheapest and most basic phones now offer Internet access.
  • E-commerce has the effect of increasing the transparency of the market at the macro level and at the micro level, greater productivity.
  • The greater productivity will be out in the market on the micro and macro level, E-commerce has the effect of transparency

Acowebs are developers of WooCommerce plugins that will help you personalize your stores. It supports the additional option with feature-rich add-ons which is WooCommerce Product Addons, that are lightweight and fast. Update your store with these add-ons and enjoy a hassle-free experience.

Leave a Comment

Your email address will not be published. Required fields are marked *