How E-business And Modern E-commerce Contribute To Customer Value. Modern ecommerce refers to the practice of buying and selling goods and services over the internet using electronic platforms such as websites and mobile apps. Ecommerce has become increasingly popular in recent years due to the convenience and ease of use it offers to both consumers and businesses.
In modern ecommerce, businesses can sell their products and services directly to consumers through their own online stores or through third-party platforms such as Amazon, eBay, and Etsy. Consumers can browse and shop online at their convenience, using a variety of payment methods such as credit cards, debit cards, and online payment services like PayPal.
How E-business And Modern E-commerce Contribute To Customer Value
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Modern ecommerce also includes the use of advanced technologies such as artificial intelligence (AI), machine learning, and big data analytics to improve the shopping experience for consumers and to help businesses make informed decisions about their operations. These technologies enable businesses to personalize their online stores, recommend products to customers, and analyze data to optimize their operations and marketing efforts.
Overall, modern ecommerce has revolutionized the way people shop and do business, offering a convenient and efficient way for businesses to reach a global market and for consumers to access a wide range of products and services.
How Does E-commerce Contribute To Globalization?
E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the Internet. E-commerce has contributed to globalization in several ways:
Increased international trade:
E-commerce has made it easier for businesses to reach international customers and for customers to purchase products from foreign countries. This has led to an increase in international trade and the globalization of markets.
Lower barriers to entry:
E-commerce has lowered the barriers to entry for small businesses and entrepreneurs, allowing them to easily reach international markets and compete with larger companies.
Global supply chain:
E-commerce has made it easier for companies to source goods and materials from countries around the world, creating a global supply chain that spans across borders.
Cross-border payments:
E-commerce has made it easier for businesses and consumers to make cross-border payments, further facilitating international trade and commerce.
Overall, e-commerce has made it easier for businesses to operate globally and for consumers to access a wider range of products and services from around the world, contributing to the globalization of the global economy.
Explain How E-business and E-commerce Contribute to Customer Value?
E-business refers to the use of electronic technologies, such as the internet, to conduct business transactions and processes. E-commerce refers specifically to the buying and selling of goods and services over the internet. Both e-business and e-commerce can contribute to customer value in several ways:
Convenience:
E-business and e-commerce allow customers to shop and make purchases anytime and from anywhere, without the need to physically visit a store. This can save time and effort for the customer.
Wide selection:
Online stores often offer a wider selection of products and services than traditional brick-and-mortar stores, as they do not have the same space constraints. This allows customers to easily browse and compare products from different sellers and choose the one that best meets their needs.
Customization:
E-business and e-commerce platforms can often allow customers to customize their purchases to meet their specific needs. For example, a customer may be able to customize the color, size, or features of a product they are purchasing.
Price comparison:
Online shopping allows customers to easily compare prices from different sellers and choose the one that offers the best value for money.
Reviews and ratings:
Many e-business and e-commerce platforms allow customers to leave reviews and ratings for products and services, which can help other customers make informed purchasing decisions.
Improved customer service:
E-business and e-commerce platforms often offer various customer service options, such as live chat, email, and phone support, which can make it easier for customers to get assistance with their purchases.
Overall, e-business and e-commerce contribute to customer value by providing convenience, a wide selection of products and services, customization options, price comparison, reviews and ratings, and improved customer service.
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