| Benefits | Costs | |
| Firms | ✓ Enables the business to reach a global market. ✓ Businesses do not need to be physically close to their customers. ✓ They can benefit from ‘longer opening hours’ which may increase sales. ✓ A great reduction in costs. |
✓ The competition is more fierce. ✓ The speed of delivery becomes more important. |
| Consumers | ✓ They can easily access goods and services. | ✓ Choosing from the huge number of rival businesses can be very time-consuming and frustrating. ✓ Consumers need to have a credit/debit card to make payments. ✓ Some consumers find it frustrating to wait for delivery. |
What are the costs and benefits of e-commerce to firms and consumers?
What are the costs and benefits of e-commerce to firms and consumers...Potential costs and benefits to firms. It is harder to develop online brand loyalty as customers can search for cheaper alternatives. It is expensive to develop reliable...
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