Overlooked are the days when business activities such as the exchange of goods and services for money, between 2 parties, had to take place in a traditional environment. The consumer going to the market, checking out a variety of goods, picking needed items, buying them and then paying the precise amount is what distinguishes traditional commerce. However, now with the advent of technological innovations, modern techniques of selling goods and services have arisen. For example, e-commerce, where people purchase and sell commodities via the Internet.
Both modes have their own merits and demerits, here, the students can learn the meaning of traditional commerce and e-commerce.
Traditional commerce includes the exchange of goods and services between 2 people. As stated in the introduction, it is one of the traditional methods of purchasing goods and services. It is followed by everyone across the globe.
E-commerce i.e., electronic commerce is similar to traditional commerce. It also includes the exchange of goods and services. The solitary difference is that it is handled online through an electronic network – the Internet. Now it has spread across to online social networks. With e-commerce, support, transactions and communication are done via the use of electronic communication. All trading activities including selling, ordering, buying, payments are executed over the internet.
This article is a ready reckoner for the students to learn the comparison between Traditional Commerce vs Ecommerce.
|Meaning||Traditional Commerce comprises to be a branch of trade, which concentrates on the exchange of goods and services.||E-commerce means executing the transactions or exchange of data, on the internet.|
|Scope||Restricted to a definite area||Across the globe|
|Marketing||One way||One to one|
|Payment||Cash, Debit or Credit card, cheque, etc.,||Debit or Credit card, NEFT or Cash on Delivery (COD) etc.,|
|Delivery of products||Instantly||Takes some time|
The above mentioned is the concept, that is elucidated in detail about ‘Difference between Traditional Commerce and E-commerce’ for the Commerce students. To know more, stay tuned to BYJU’S.