Electronic commerce is a business transactions which are generally conducted electronically. It covers a firm's interactions with its customers and suppliers over the Internet. However the traditional business operates to provide its customers and consumers with a product in exchange for compensation.
It is a typical organisation such as a store, restaurant or any agency. Benefits of E-commerce over traditional business:
(i) Global reach: E-commerce enables even the smallest suppliers to achieve global presence and conduct business worldwide.
(ii) Convenience: On the Internet, transactions can be made 24 hours, 7 days a week and 365 days a year. It provides great convenience to buyers and sellers both.
(iii) Paperless society: E-business reduces dependency on paper work and the attendant red tape. Taxpayers can file returns online. Hence, it does not require paper work. ( immediate. (iv) Speed: The information over Internet can be exchanged at the click of a mouse. It is very quick and
(v) Lower investment: Capital required for E-commerce is less as compared to traditional business, as it doesn't need fancy infrastructure and assets.