E-commerce can be classified as commercial transactions conducted electronically on the internet. Selling through websites is the fastest growing method of trading worldwide.
Advantages of e-commerce
Opens the market to customers across the globe
Enables smaller companies to access wider markets and compete with larger companies
Can reduce staffing levels and/or high street stores thereby reducing costs
Provides the option to offer 24-hour commerce at minimum additional cost
Disadvantages of e-commerce
Lack of personal touch
Inability to experience the product before purchase
Not all vendors use secure payment gateways, raising the potential for theft of personal data and credit card fraud
Delay in receiving goods
There is often a delivery charge, which may negate any savings made buying online
