DEFINITION
ECOMMERCE 👍
IT REFERS TO THE TRADE OF GOODS AND SERVICES OR FUNDS THROUGH AN INTERNET NETWORK
👍IT TAKES PLACE THROUGH AN ONLINE METHOD,THE TRADING ACTIVITIES LIKE BUYING, SELLING ,ORDERING TAKES PLACE THROUGH AN ONLINE FORUM
TRADE COMMERCE
👍 IT REFERS TO TRADING OF GOODS AND TRANSPORTATION THROUGH AN OFFLINE METHOD
THIS COMMERCE IS USUALLY OFFLINE THE BUYER AND SELLER HAVE TO MEET WITH EACH OTHER TO MAKE A TRADE HAPPEN
REACHABILITY AND AVAILIBILITY
👍THE ECOMMERCE IS AVAILABLE 24/7 AND 365 DAYS IN AN YEAR THE BUYER CAN ALWAYS SCROLL THROUGH NEW ITEMS AND PLACE AN ORDER DEPENDING UPON HIS NEEDS
👍 THE ECOMMERCE IS A MEDIUM THROUGH WHICH YOUR PRODUCTS CAN BE SHOWCASTED TO PEOPLE LIVING IN OTHER CORNER OF THE CITIES OR COUNTRY
IT OFFERS A LARGER MASS OF AUDIENCE , BETTER REACH THROUGH A DIGITAL PLATFORM MORE PEOPLE CAN ACTUALLY REACH OUT TO THE PRODUCTS YOU ARE SELLING
👍 THIS OFFERS A BETTER BRAND EXPOSURE AND AWARENESS TO OTHER PEOPLE LIVING IN THE COUNTRY
👍ON THE OTHER HAND TRADE COMMERCE IS AVAILABLE ON SPECIFIC TIMES IN AN YEAR AND PARTICULAR TIMES DURING A DAY THE BUYER HAS TO BE PRESENT DURING THAT TIME TO COMPLETE A TRANSACTION
👍 THE TRADE COMMERCE ON THE OTHER HAND OFFERS LESSER REACH T AUDIENCE AS ITS LOCATED ON A FIXED LOCATION WHICH LIMITS THE NUMBER OF PEOPLE INTERACTING WITH YOUR PRODUCTS DURING A DAY
IN E COMMERCE THE DELIVERY OF GOODS TAKE TIME USUALLY 2 TO 3 DAYS AFTER ORDER PROCESSING THE ORDER IS FIRST NOTIFIED BY E COMMERCE PORTALS THEN THE PRODUCT IS COLLECTED FROM THE SELLERS WAREHOUSE
THE CUSTOMER INTERACTION IN THE ECOMMERCE IS USUALLY NOT PRESENT ,
IN TRADE COMMERCE THE CUSTOMER INERACTION IS USUALLY DONE FACE TO FACE BETWEEN BUYRE AND SELLER
THE PHYSICAL INSPECTION OF GOODS CAN BE DONE BY THE BUYER BEFORE PURCHASING THE PRODUCTS AND CAN ALSO BE RETURNED LATER,IN E COMMERCE THE INSPECTION OF GOODS IS NOT POSSIBLE HOWEVER ONE CAN RETURN THE GOODS AFTER TRYING
E COMMERCE OFFERS A BETTER COMFORT LEVEL TO THE CONSUMER AS YOU CAN ORDER PRODUCTS ONLINE BY JUST CLICKING A BUTTON , THE TRADE COMMERCE HOWEVER DOESNT OFFER COMFORT AS YOU HAVE TO BE PHYSICALLY PRESENT OVER THERE TO PLACE AN ORDER
THE PAYMENT OF TRADE COMMERCE CAN BE DONE BY CASH CREDIT CARD OR CHEQUES WHEREAS THE PAYMENT OF E COMMERCE CAN BE DONE BY COD – CASH ON DELIVERY , UPI ETC
E COMMERCE IS A NEWER AND MODERN CONCEPT AS COMPARED TO TRADE COMMERCE WHICH IS A TARDITION STYLE OF COMMERCE
ONE CANNOT GO TO CUSTOMER SUPPORT FOR COMPLAINING ABOUT THE GOODS OR LISTENING TO THE GREIVANCES OF THEM WHEREAS THIS MISHAP DOESNT EXISTS IN THE ECOMMERCE AS THERE IS A DIFFERENT PORTAL WHICH LISTENS TO ALL QUERIES AND OBJECTIONS OF THE CUSTOMERS
ADVANTAGES OF ECOMMERCE
- REDUCES OVERHEAD COST
FOR STARTING AN ECOMMEREC BRAND YOU DONT NED TO RENT A PLACE , HAVE A LOT OF SUPPLY OF THEIR GOODS , THE MAIN COSTS WHICH OCCURS ARE OF YOUR DOMAIN HOSTINGS AND SECURITIES AND OFC SOME MONEY IN MARKETING ALSO
- REACHES LARGER NUMBER OF PEOPLE
WITH E COMMERCE YOUR PRODUCT CAN EVEN BE MARKETEED WORLDWIDE AND YOUR BRAND AWARENESS CAN REACH PEAK LEVELS , EVEN IF YOU LIVE IN INDIA YOU CAN SELL YOUR PRODUCTS I DIFFRENT COUNTRY LIKE UK OR US
- MORE SCALABLE AND CAN BE EXPANDED EASILY
YOUR E COMMERCE STORE IS EASY TO SCALE AS COMPARED TO YOUR TRADE COMMERCE STORE AS IT DOESNT REQUIRE MOVING OF INVENTORIES FROM ONE PLACE TO ANOTHER AS YOUR BUSINESS GROWS YOU DONT NEED A BIGGER PHYSICAL AREA
- DATA ANALYSIS
YOU CAN HAVE A PROPER DATA OF EVERYTHING INCLUDING YOUR SALES ,RETURNS,INVENTORY MANAGEMENT AND A SELLER CAN ALSO TRACK WHEN HIS PRODUCT WILL BE ARRIVING OR WHETHER THE PRODUCT HAS BEEN SHIPPED OR NOT
DISADVANTAGES OF ECOMMERCE
- NO INTERPERSONAL RELATION WITH CUSTOMER
SINCE THE BUYER AND SELLER DONT MEET WHILE DOING A BUSINESS NO CONNECTION IS FORMED BETWEEN THEM ,THERE IS NO INTERACTION IN ANY FORM
- TECHNOLOGICAL ISSUES
THE MAIN PROBLEM OF THE ECOMMERCE IS THE SELLER LOSES A LOT OF CUSTOMERS AND MONEY IF UTS SITE CRASHES DUE TO ANY REASON OR THE PAYMENT GATEWAY GETS BLOCKED
- THREATS
THE BUYER CAN FACE A LOT OF SECURITY AND PRIVACY SCAMS WHILE DOING E COMMERCE LIKE LEAK OF DEBIT OR CREDIT CARD DETAILS , DATA BREACHES AND FOR BUYER LOSING YOUR ACCESS TO YOUR WEBSITE
ADVANTAGES OF TRADE COMMERCE
- Generates employment and job seeking opportunities for several people
- Unlike in e commerce the delivery of goods is instant as the buyer can get his goods after he makes his payment
- Offers one on one customer interaction between and creates a personal bond between people
- Decreases the risk of fraud and less security issues and threats as compared to e commerce
Disadvantages of trade commerce
- Trade commerce is susceptible to frauds like thefts and loss of goods by fire more oftenly as compared to e commerce
- It requietres physically ytravelling to the stote which can be inconvenient for the customers to reach
FREQUENTLY ASKED QUESTIONS
- WHAT ARE THE MAIN DIFFERENCES BETWEEN TRADECOMMERCE AND ECOMMERCE
- HOW TO OPEN AN ECOMMERCE BRAND:FOR THIS IF YOU WANT TO KNOW MORE CLICK ON www.sephaninightwears.com
- What is the first step to to commence an ecommerce brand:
The first step to start might be to buy the domain hostings of the of the brand you can get it from www.godaddy.com or www.bigrock.com or www.hostagle.com and many more
