Business Studies – 3.3.5 Ecommerce | e-Consult

Mobile phone/Internet banking allows customers to access their accounts and conduct transactions anytime, anywhere. This has significantly reduced the need for physical branches, leading to lower operating costs for banks and increased convenience for customers. Businesses now need robust cybersecurity measures to protect customer data and build trust.

Online shopping provides a platform for businesses to reach a global customer base without the need for physical storefronts. This has lowered overhead costs and enabled businesses to offer a wider range of products. Businesses must invest in effective online marketing and efficient logistics to compete. Customer service needs to be readily available online.

Online ticketing facilitates the sale of tickets for events like concerts, sports, and travel. This has streamlined the ticketing process, reduced costs associated with printing and distribution, and provided businesses with valuable customer data. Businesses can analyse ticket sales to understand demand and adjust future events accordingly. It also allows for dynamic pricing strategies.