“E-commerce could help small and medium-sized businesses grow and reach more people in the following ways: Gain a higher profit margin and increase revenues.Understanding, engaging, and retaining customers can be achieved with data analytics. By eliminating intermediaries and making long-term contracts, this can help reduce procurement costs. Transactions conducted online create a record of a company’s reliability and performance.
E-commerce platforms make it easy for all kinds of businesses to sell to people in other countries. MSMEs can get real-time access to the information they need to build a client base and understand what their customers want. With the help of an e-commerce platform, MSMEs can deal directly with manufacturers and suppliers. By cutting out middlemen and making long-term contracts, this can help reduce down the cost of buying things. E-commerce platforms offer technological benefits like full transparency and detailed tracking of the order’s status. They also make it possible to make repeat purchases.”