BCM206 How did network saved transaction cost?

The Internet is a global network of billions of computers and other electronic devices. With the Internet, it’s possible to access almost any information, communicate with anyone else in the world, and do much more

With the invention of network, people’s life are also becoming more and more convenient. Nowadays with the spread of covid-19, lots of people choose to shop online which is a safe way to avoid the virus.

The development of network makes the transaction develop from offline to online which save lots of cost for businesses,shopping online also save customers times because they can make purchases without leaving their home.

Developed Internet also improved employee’s working efficiency which brings lots of benefits to companies.

Network is the basic structure for most of companies, all kinds of different services on Internet did brings special experiences to network users and also create more jobs for people.

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Reference lists:

GCFGlobal.org. 2020. Internet Basics: What Can You Do Online?. [online] Available at: <https://edu.gcfglobal.org/en/internetbasics/what-can-you-do-online/1/> [Accessed 28 August 2020].

One thought on “BCM206 How did network saved transaction cost?

  1. Hi Sheng, that is interesting. With the development of e-commerce, as one of the components of e-commerce, online retail is also developing rapidly. The emergence of online retailing enables people to enjoy the convenience of buying goods without leaving home, and at the same time, it also brings new means of profit to merchants. Online shopping solves the problem of insufficient user participation in traditional stores.

    Compared with the traditional retail industry, the price advantage of online shopping is mainly reflected in the following aspects:
    A. In many cases, online shopping is delivered directly to consumers by manufacturers or major distributors, so the store rent, storage cost and business tax are reduced;
    B. Compared with traditional retail, online shopping improves the efficiency of information transmission;
    C. Online shopping shortens the time for enterprises to occupy funds; The strong supply chain system and the large number of procurement greatly reduce the cost of goods.

    Like

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