AN EXAMINATION OF POTENTIAL BENEFITS AND CONSTRAINTS ASSOCIATED WITH SMALL BUSINESS USE OF E-COMMERCE
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- NGN 5000
EXCERPT FROM THE STUDY
E-commerce is referred to as electronic commerce. It means the electronic media and the internet for dealing with goods and services. E-Commerce entails a company accessing the internet as well as IT, such as the electronic data interchange (EDI). E-commerce concerns an internet vendor's website, trading goods or services to the user directly from the platform. The gateway uses a wireless purchase cart or a purchase basket to pay by credit card, debit card or Electronic fund transfer (EFT). A further description is as follows: Electronic communications and digital information processes in business transactions are used to create, modify and redefine value generation relations between, and between, organizations and individuals.
With the increasing spread of ICTs, specifically the Internet, the global corporate world pushes rapidly into e- commerce (Business-to-Business). As the Internet enables consumers to enter the global economy, they can compare prices across areas, find out how they vary by request, and become aware of substitution. The buyers obtain a distinct advantage (Ekpenyong & Nyong 2017). Thanks to market openness, consumers can conveniently compare e-commerce offerings from different websites. The rivals would immediately be one click away from the customer if the company is electronic. If consumers aren't comfortable with certain e-goods, content's pricing or services, they can adjust even more quickly than in traditional terms. They don't need a physical store from the point of view of the vendors.
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