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Sales & Trading – Online

Sales & Trading – Online

Online shopping is a form of electronic commerce which permits consumers to directly buy goods or services from a vendor over the Internet using a web browser or mobile apps. Consumers can find the product that interests them and buy through the web portal or a mobile app on smart devices.

Growth in Online Shoppers

Online trading is becoming effective in consumers; they can buy commodities over the internet without going to a store or a supermarket. Goods are then shipped to the customer at their preferred address.

There are two types of online shopping processes; Business to Consumer (B2C) and Business to Business (B2B) shopping.

A typical online store enables the customer to browse the range of products and services of the company called the catalogue, view photos or images of the products, along with information about the product specifications, features and prices, etc.

Online consumers must have access to the Internet and a valid method of payment in order to complete the transaction, credit card, debit card, PayPal etc.

For the suppliers of an online store, they can reduce the overheads as they don’t need to open floor spaces for their showrooms for customers to come in and buy the products. It is easy to track each consumer, which can be used for their data analytic exercise, so the supplier can give the consumers incentives for further online shopping on a client by client basis.

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