Impact of Ecommerce on Businesses

Impact of Ecommerce on Businesses 

As the name suggests, the E-commerce business is solely done over the internet. From buying and selling of goods to the transactions done and the revenues generated, eCommerce is all about doing business online. Even the marketing and promotions of the businesses are done via the internet. 

While businesses are skyrocketing these days, there is no denying that the shifts of businesses on the internet have bridged a lot of gaps in the market. From saving time and energy to getting everything you need just with the click of a button, e-commerce has become the preference for all consumers. 

Types 

There are two major types of online business. The first one is B2B and the second one is B2C. 

i.B2B

B2B is a business-to-business entity that comprises manufacturers and retailers. Instead of giving things directly to the end consumer, they give the products to other businesses or intermediaries. All the firms that produce raw materials come under B2B as they sell their materials to the other businesses and not the end consumers. 

ii.B2C

B2C is the business-to-consumer entity in which the goods are directly sold to the end customer. Online shopping in the B2C market is more efficient as it is faster and convenient. It also gives direct interaction with the clients. 

Impacts 

There is no doubt about the fact that the online world has changed the norms of the business. The methods and tactics of the traditional business have become outdated and the world has shifted to the digitized version. 

Technology 

The online business has completely changed how the organizations used to work before. Employees now have to learn the new methods of technology and the management of social media sites. Companies who have adapted to the technological world rapidly are more responsive to the customers and they know the preferences of the customers. Therefore, they cater to the customers accordingly. 

Promotional 

Online businesses have completely changed the conventional methods of marketing and promotional techniques. Gone are the days of going door to door to give brochures or making stalls, the new notion is to make bright advertisements and post them on social media sites. The new promotional techniques, because of online businesses, involve sending personalized emails and doing paid promotions with bloggers. The businesses have shifted to new and digitized promotional techniques and the ones following the traditional ways of promotions are getting kicked out by the market. 

Nature of Work 

Due to online business, the nature of business has completely changed. As most of the work has shifted to online, companies are now hiring fewer employees and decreasing the manpower. The concept of outsourcing has become a common practice that most businesses have adopted. 

It has led to job insecurities and less wages for workers. The concept of Be Your Boss has arisen because of these changes. With all these, the timings of existing workers have become more flexible and easier and the concept of office hours is getting outdated day by day.