Will E-commerce Replace Traditional Commerce?
The most commonly asked question about E-commerce is, will E-commerce replace traditional commerce? This is a billion-dollar question and everyone is looking for answers here. To understand whether it will replace traditional marketing first understand the difference between E-commerce and Traditional commerce. Let’s check out these points for understanding both sides of the commerce
1. In traditional commerce, at the time of buying goods, both the buyer and sellers are present at the time it builds trust among them and buyers do not have any kind of ambiguity while purchasing a product. On the other hand, the case with E-commerce is different, Buyer does not know the seller and at the back of the mind, there is some uncertainty about the product. Like when you went to the mall to “Buy leather jackets” you will check the quality of leather by yourself and when you order online, you are trusting the seller big time, so we have limited options like we have to buy things from only a few trusted websites which have good reviews
2. In traditional commerce, transactions are made in the presence of both but in E-commerce, transactions are made through cards and another online payment medium. This increases the chances of leaking private information like a credit card or debit card.
3. Another thing we need to understand is that the scope of the business is an important factor. There are certain types of businesses which can’t be online while most of the business can go online.
4. In E-commerce when you purchase any product you are providing credit card or debit card information which is risky as there are chances of theft as we all know cyber-crime is one the rise. But there is an alternative to this problem. You can use Paykwik Al cards. They are prepaid cards and not contain your private information and you can buy any product with ease.
5. E-Commerce has one huge benefit which is that if you are short on time and can’t go to the shopping mall you can order anything easily from your favorite e-commerce store, and save your time. It also helps when you are traveling like you live in the US and you are traveling to Karachi to enjoy the best place to visit in Karachi or the best places to visit in Lahore, you can order anything without roaming around to the local market. This is one of the benefits
6. With E-Commerce, you can select the right marketing strategies and market your product to the right audience. You know where your product’s demand is most and you can particularly select those people to target their favorite product.
7. With e-commerce, you can target a large audience global audience. Your audience is the whole world. You don’t need to settle for less at all as you can market anywhere around the globe and sell your product.
8. Flexibility is another main feature, for an E-commerce store you can work according to your flexible timings rather than 9-5 market timings. You can work from your home and market your product easily without any issues.
9. It is convenient to buy products online, it saves you time and due to high competition you will get better prices as well that’s a big plus.
10. A Variety of options are available on E-commerce, here you will get the chance to order from anywhere around the globe and enjoy the luxury to shop a variety of products from all over the world.
The points discussed above are from perspective, seller, and buyer. There are pros and cons of everything but overall E-commerce is a good transformation of commerce providing convenience to everyone around and connecting the global market. It is a great way to use Digital Marketing for your products and daily marketing your products to those who really wants to buy it.
To answer the question, whether E-commerce will overcome traditional commerce is dependent on one’s perspective. Some people love shopping online so want to roam around the mall and shop. There are different choices for everyone. But overall E-commerce will hold 90% of commerce. This number can vary a little bit but there are high chances of E-commerce holding the commerce trade.