The terms are totally opposite to each other. They work in a totally different domain. Both have their own pros and cons, both have their own positive and negative aspects, but one thing’s for sure that online business has surely taken the world by storm. It is creating a revolution in the minds of the people due to its peculiar nature.
E-Business or online business is a second name for convenience. All you need is an active internet connection and a few experts in this field, and you are all ready to launch your online business. It demands nothing else, literally.
We shall only discuss the advantages E-Business hold against the so-called traditional business methods. So, we would try to answer the following question in this article.
How is Online Business is beneficial as compared to traditional business?
Let’s have a detailed analysis.
Online business VS Traditional Business
- Not Limited to Location
Unlike traditional businesses where you have to buy or rent a place, furnish your office, hire a salesman and stuff like that, the online business method we are comparing is totally different. It does not need any such scenarios. This is the main difference that you can operate and manage the whole of your business from anywhere at any time.
You just need to have a laptop or a smartphone and a healthy internet connection. All the hassle related to the selection of a suitable location is no longer a headache and you can handle your business by sitting on your comfortable bed with a cup of hot coffee in your hand. That’s it.
- Targeted Customers
There is no need to order a large number of goods from your retailers that you would find difficult to sell them. You can never get an idea what’s the right limit of the order you want for your shop. You have to manage an inventory for this purpose. With E-Business, you can target your specific audience.
You just have to answer to their particular order and arrange the delivery for them. You can get an idea about your customers’ likes and dislikes by specific internet techniques. Social media comes very handily in this prospect. Facebook and other platforms allow you to conduct surveys based on the requirements of the customers and you can then manage your online inventory accordingly.
- No Traditional Marketing
With online business handling, you can absolutely get rid of the so-called traditional marketing methods. There is no need to get billboards to hefty rents. E-Business just requires online marketing strategies which are pretty cheap and easy to access.
You can even learn the marketing techniques yourself or you can hire a digital marketing expert for your business who would help you in getting a successful online business in a short time and in much lesser money.
You are busy but you really need to buy it as soon as possible. For traditional shopping, you would have to make a lot of arrangements and it is a must that you would have to sacrifice some of your precious time by going out and buying something.
But with online shopping, you can do shopping at any time of day or night. No matter how busy you are, you can now buy the things of your need at a single click from your laptop or smartphone.
- Reduced Costs
In an online business, the owner does not have to pay for the shop, no salesperson no cashiers required, no furniture requirements, no legal responsibilities needed. This means the owner has no major expenditures as compared to common shop owners.
Ultimately, we can see a clear difference in cost reduction with online businesses. You can compare the prices with other online store owners within no time. All this makes shopping easier for you.
Does it also have some drawbacks?
Yes, E-business might have a couple of negative aspects which make you think twice before finalizing the shopping method.
- No Try Available
Traditional stores allow you to satisfy yourself in every way possible. You can always check the product before buying it. You shall only buy if you are fully satisfied. But E-Business platforms do not offer this. You can only a picture and you can get some idea from the reviews. Nothing else.
Most of the online shopping platforms do not offer the exchange or return back offer. You will have to rely on whatever you received from them. There is also no inspection available on the quality or originality of the product.
- Lesser Customer Interaction
With online shopping, there is no direct dealing between the customers and the owners. This might not satisfy some people as they gain satisfaction when they really explore the things they want to buy.
In online stores, you only have to trust their word of mouth and they can give you the quality of any kind that might not be according to your requirements.
To conclude, we can say that both are totally different domains and have their own plus and negative points. E-Business is getting a slight edge due to advancements in technology where people want to spend as little time as possible and get everything at their doorstep.