E-commerce has recently broadened to encompass business conducted over the internet.Discuss the unique benefits of the internet in conducting business (4 Marks)

Global Reach: The internet allows businesses to reach customers from all over the world. This global reach is a unique benefit as it allows businesses to expand their customer base beyond their local area. This can lead to increased sales and growth for the business. (1 Mark)

24/7 Availability: Unlike physical stores, e-commerce websites can operate 24/7. This means that customers can shop at any time that is convenient for them, which can lead to increased sales. It also means that businesses can make sales outside of traditional business hours. (1 Mark)

Lower Operational Costs: Running an e-commerce business can be cheaper than running a physical store. There are no costs for rent, utilities, and maintenance of a physical location. This can allow businesses to offer competitive prices and increase their profit margins. (1 Mark)

Personalized Shopping Experience: The internet allows businesses to collect data about their customers' shopping habits and preferences. This data can be used to provide a personalized shopping experience, which can lead to increased customer satisfaction and loyalty. (1 Mark)