The growth of the internet has been the catalyst of major change in the business world. With the development of internet and technology, business, entertainment, advertising and connecting has changed drastically, and with all these changes coming about, it has led to the widespread use of the internet as a platform for buying and selling. The internet has become a market; where businesses can be established and can even flourish, reaping in huge profits for the entrepreneurs. Websites like Amazon and eBay are testaments to this statement, as they have become giants in the retail world, and provide major competition even to physical retail stores. Internet shopping presents many benefits, one of which is the ease with which you can shop. Buyers have the comfort of making purchases in the comfort of their own home, and this too at any time and from anywhere in the world, as shipping makes it possible for products to reach any place on the globe. Internet shopping also makes price comparisons easier. Rather than having to go to many shops and comparing prices to find the cheapest option, internet shopping facilitates price comparison simply through enabling you to switch between websites to check prices.
The advantages are many, and another includes how you can find anything online, and you won’t have to spend time or money flitting from store to store searching for a particular good, as it can easily be found online. You can purchase household equipment, electronics, books and dresses online, just to name a few; as everything is at your fingertips. E-commerce is also beneficial for entrepreneurs as it saves them the cost of location; which would include rent cost and maintenance costs. In addition to this, promotion and advertising is now very much cheaper, or even free, as you can advertise online, and can use social media platforms to further promote your business!However, with the good, there is a certain amount of bad as well. For example, there are security risks and the threat of identity theft if websites are not secure, and this may deter people from wanting to buy online.
Furthermore, some people would much rather opt for visiting dress shops and physically trying out the product, instead of buying it online, as what you see online may not always be the product you receive. The evolution of technology should be embraced by businesses and consumers alike, and new business and market environments should be adapted to. In times where problems are identified, steps should be taken to rectify and eliminate the issues.