E-commerce or Traditional commerce

        E-commerce or Traditional commerce

Gone are the days when the commercial activities like the exchange of goods and services for money, between parties, takes place only in the traditional mode, i.e. the customer have to go to the market, look at the variety of products, choose the required stuff and the purchasing them by paying the specified amount. But with the advent of e-Commerce, people can buy goods, pay bills, or transfer money in just one click. Many people, still prefer traditional commerce over e-Commerce, due to their dogma that the latter is not safe, however, this is just a myth. Both modes have their pros and cons, so we have simplified you the difference between traditional commerce and e-Commerce.

Traditional commerce

Traditional commerce is a branch of business which focuses on the exchange of products and services, and includes all those activities which encourages exchange, in some way or the other.Traditional Commerce or Commerce is a part of business, which encompasses all those activities that facilitate exchange. Two kinds of activities are included in commerce, i.e. trade and auxiliaries to trade. The term trade refers to the buying and selling of goods and services for cash or kind and auxiliaries to trade, implies all those activities like banking, insurance, transportation, advertisement, insurance, packaging, and so on, that helps in the successful completion of exchange between parties.

E-commerce

E-Commerce or electronic commerce refers to the exchange of goods and services, funds or information, between businesses and consumers using the electronic network, i.e. internet or online social network. e-Commerce means trading and providing assistance to trading activities, through the use of the electronic medium, i.e. all the activities like purchasing, selling, ordering and paying are performed over the internet. 

Now the main question is which one of these two is better?

Time factor 

The traditional commerce usually takes much more time to complete a transaction successfully. However, both the business and consumers can save a lot of their time through e-Commerce as the transaction can be completed within a few minutes via the internet.

Working Hours

In traditional commerce, the trading of goods and services can take place, only during specific working hours. In contrast, in e-commerce, the selling and buying of goods take place round the clock.

Delivery of goods

In traditional commerce,the delivery of goods occurs immediately.But in the case of e-commerce, the goods get delivered right at the customer’s place usually within 7-8 days after placing the order.

Promotions of new product

In traditional commerce, the promotion of new products requires both money and time. Even costly pilot surveys are also carried out to analyze the customers’ response about the product. In e-commerce, it is easy to advertise a product on the internet to get the immediate feedback of the customers. Based on that, the products are usually modified to be launched successfully.

Business profit

E-commerce helps the organization to appreciate greater profits by streamlining operating processes, increasing sales, and cutting down extra expenses, whereas, in traditional commerce, profit is pulled down a bit due to the interference of middleman and limited sales.

 Conclusion

Nowadays, the fast-paced world, in order to stay ahead in contention, to save time, and thrive in the business through the world of internet, it is very essential to break-through the conventional or traditional rules and adapt theinformation technology for doing better business not only with one country or location but in throughout the global locations at any time. Therefore, although e-Commerce is a bit risky mode of business like the threats of facing fraud transaction, unsuitable for selling perishable goods, and not ability to inspect goods physically by the customers, but according to match with the evolving technologies e-Commerce is better and convenient than traditional commerce in today’s world.