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How useful is e-commerce for businesses?

Nowadays, e-commerce gives business owners, merchants, and SMEs an exceptional opportunity to promote their products, reach more customers, and increase revenue. However, if a business owner really wants to benefit from e-commerce, he should first understand its benefits and the features that make it both unique and beneficial at the same time for their business in the long run. So, what exactly is e-commerce? E-commerce, by definition, is the process of selling goods. Services or products by way of the internet, through a specialized platform that helps customers order whatever they need and to have those orders delivered to them through one of several delivery options. A brief history of e-commerce Online shopping began in its earliest form in 1982 with the Boston Computer Exchange Company's website, which used to sell second-hand computers. In addition, online shopping was not popular at the time because many people did not trust it; they feared that these products did not exist because people also did not have any means to communicate with sellers. Also, there were no product reviews for people to make sure of the quality of these products. E-commerce and online shopping began in 1995 when Amazon was launched, and its services started reaching every home throughout. It also allowed people to submit feedback on every product, increasing the platform’s credibility. Amazon’s business model was copied worldwide, especially in the Middle East, and new online shopping platforms emerged, such as Souq.com, Noon, and many others. As a result, many more tech companies and start-ups started to create their own e-commerce platforms dedicated to helping companies create their own customized online stores. Top 4 benefits of e-commerce 24/7 Availability Online stores can receive any order on a 24-hour basis; this feature helped many businesses increase their revenue and receive orders anytime, even outside the official working hours. Competitive offers One of the advantages of e-commerce shopping is the competitive offers of the online world; businesses want to gain more customers and keep their current customers, and these businesses compete with each other for a more significant market share. That’s why they keep offering customers discounts every single day. Diversity in products The world of e-commerce offers both businesses the ability to offer multiple products that attract significant segments of customers. This feature helps small businesses display their entire inventory. Direct consumer feedback This feature helps businesses increase their credibility in their customers' eyes and also helps convince customers to buy a product based on other people’s reviews. Unlimited online shopping options E-commerce offers many more options and advantages for businesses and buyers, not just the above-stated benefits. Eventually, whether the experience was good or bad, both customers and business owners can have the final say on the outcome.