Wide reach and global markets
The online market has a global reach, allowing businesses to reach the world from wherever they are. Geographical boundaries are inconsequential to E-commerce businesses. Unlike physical stores, they can sell their products and services to online buyers/shoppers from within their locality, their country, or even as far as the wide and distant corners of the globe.
They do not have to worry about borders or indeed any limitations to do with physical location. Online stores also provide small businesses, particularly retail shops with a vast audience that they would not ordinarily access under physical store settings. In this case, the E-commerce business model is a great equalizer that gives all types of businesses the same opportunity to leverage.
A broad range of products and services
The use of E-commerce also makes sure that customers get to choose from a broad product and service portfolio of any vendor in any part of the world. With physical stores, space constraints mean that a vendor can only stock a limited amount or number of products in his or her physical premises. An online store however is also virtual, and allows the vendor to stock and display many products without worry about inventory cost.
The process starting from product display, through browsing to ordering and making the relevant payment is seamless, regardless of the number of products. The customer can add as many products as he or she wishes, without any encumbrance. Besides that, there is no need for clerks and front-end salespersons, and therefore no such costs. Consequently, the E-commerce business is able to provide consumers with a variety of products from which they can conveniently choose.
The online market is global and has a broad reach to all parts of the world. This means that geographic location is not a barrier to E-commerce, and a customer can access products lacking in his nearby physical store just as conveniently. With daily advancements in technology, including information and communication technologies, and the proliferation of the internet to all corners of the world, E-commerce is only bound to become better.
Over the last decade, E-commerce has grown in leaps and bounds, and one can predict that it will be the future of all business transactions. The benefits that accrue from using E-commerce are several, and yet, apart from breaking most barriers to physical store businesses, it confers unique benefits.