IJFANS International Journal of Food and Nutritional Sciences

ISSN PRINT 2319 1775 Online 2320-7876

E-COMMERCE HELPS CUT DOWN ON OPERATIONAL COSTS - A STUDY

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Babita Devi,Dr Meenakshi Sharma,Saurav Meena,Prof. R.K. Lodhwal,Dr. Alka Suri

Abstract

The proliferation of companies and products, the rising level of competition among them for profit, and the ease with which consumers can now shop online all contributed to the rise of e-commerce as a means of conducting business in the modern era. This has contributed significantly to the growth of the global economy. Changing the course of the future of business and has made a contribution to this change by assisting with the implementation of electronic trading, which has helped businesses become more productive, bolster their position in the market, and devise a plan to change the course of the future of business. This research will delve further into the advantages and disadvantages of conducting business online, as well as the role that these factors play in achieving cost savings. In the past, only the wealthy could take part in e-commerce; however, as access to financial resources has become more limited, those with financial resources now have a greater need to enter the commercial arena. Before the advent of widespread Internet access, e-commerce was primarily a privilege of the well-to-do. This has led to a shift in the study's emphasis to the substantial commitment to reducing costs. As a result of the expansion of the Internet, people from all over the world now have access to a greater number of opportunities, which gives the impression that the size of the world has decreased. In its most narrow definition, "electronic commerce" refers to the process of carrying out commercial transactions via the Internet. It has provided numerous advantages to businesses, including a decrease in expenses, which has been a major worry for many of them. There are many other benefits it has brought as well. Furthermore, it laid the groundwork for what we now call electronic commerce, which entails more than just online shopping and includes communication and the dissemination of information. At its core, "electronic commerce" describes conducting business dealings over the Internet. People who did not have enough money to get started in business or invest were given a chance to do so because conditions were put in place that made it possible for them to do so. Because conditions were engineered to make this a doable proposition, it actually came to pass. The results of the research indicate that there is a link that can be considered to be causal between the utilisation of e-commerce best practises and increased levels of customer satisfaction. E-commerce in particular has resulted in an increase in the amount of information that is easily accessible, a reduction in the number of processing errors, a shortening of response times, a decrease in the costs of services, and an increase in the level of customer satisfaction as well as the level of service that customers effectively expect to receive. The findings of the study indicate that a significant number of businesses are currently engaged in the process of integrating their business operations with those of the online marketplace.

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