Social Implications of E-commerce on Society plays a bigger role than many people thought. It affects almost everything in society.
With the development of e-commerce, many factors do affect by it. The economy did also affect. Technology is so fast-growing that we are not able to catch up with its development.
As time goes by, more and more people have access to the Internet, especially those who are working online. E-commerce has its advantages and disadvantages when it comes to the economy. We have both positive and negative effects of e-commerce in the economy.
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Social Implications of E-commerce on Society – The Good and Bad Effects of E-commerce on the Economy:
The good effects of e-commerce on the economy
It provides a lot of job opportunities for people, especially for those who live in rural areas. It saves time and effort because you do not need to go out of your house just to buy a certain product or service.
Moreover, it helps businesses expand their market by reaching more customers even if they live far from your business location. It helps businesses reach new markets like other countries and even neighbouring countries.
The process increases competition among businesses since they are now selling their products online, even if they are in different countries or continents. It makes transactions easy since you do not need to go to a bank or any money transfer office to send money to another country for business transactions.
Shopping Online
Shopping online helps you save time and money since you can pay with your credit card just via an internet connection instead of using cash or a plastic card that could get stolen easily at night. Also, it costs you a lot of money when using credit cards without your knowledge.
Online shopping also helps you save gas since you do not need to use your car to buy something at the mall near your house that is just five minutes away from it. Moreover, you can order anything from anywhere without leaving your home without any hassle.
Online shopping also saves you time. It is because you no longer need to go out just to buy something if you only have five minutes left before your deadline. You can also order food online, and it delivers right to your doorstep in less than twenty minutes.
Suppose ever there is a new product launched by a local company. In that case, they can advertise it through their social media accounts like Facebook or Twitter. It is is very effective in spreading the news about new products being launched by local companies known as SMEs.
The bad effects of e-commerce on the economy
Online purchases take money out of the local economy. For example, if a consumer buys a present from Amazon rather than a local store, the money goes to the national merchant rather than the purchaser’s neighbourhood.
A lot of people prefer buying online because it is convenient. They do not need to go far from their home just to buy something that they need. It also saves them time since they do not need to stand in long lines just to buy a product, and it is also cheaper than buying it offline.
The negative effects of e-commerce did see in local businesses located near the consumers’ place of residence. It will greatly affect those businesses because they will lose many customers because of the convenience and time-saving advantage that e-commerce offers to the consumers.
Consumers will no longer need to look for those products or services if they can find them online in the comfort of their homes.
Buying online prevents the buyer from directly interacting with the seller, so there are instances when you will always encounter problems when buying online like shipping issues. Also, it includes receiving an item with defects or even getting scammed by people who sell fake products or services online.
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