E-Commerce

Online stores

Online stores allow you to browse and then purchase items online, using a credit card, which can be delivered to your house, completely erasing the need to go out to the shops and browse there. The sites often have a homepage and then links to parts of the site dedicated for differently grouped items, such as 'Mens' and 'Womens' for clothes, or grouped items such as 'Chairs', 'Tables' etc. The sites use pictures to display the goods and include information about the products such as price, size, uses and a short description. A shopper can choose an item and put it into a virtual shopping basket, which then totals up the price of every item added. Then you go to separate pages for paying for the costs using a credit card and then for your delivery by adding the address of where you want it delivered to. This way of shopping is comfortable and practical, with all the items on one site for easy searching and finding, plus most sites now take information from you looking at products to then calculate items which you may like. 
Online BankingOnline banking uses computerized systems which allow customers to access and manage their accounts online, instead of having a bank clerk or employee do it for them. This then allows customers to see their balance, make a payment to another account of theirs any time of the day and to also be available to SMS banking, which can notify customers via their mobile phones about any unexpected transactions or to gain information about their account at any time. Like online stores, this allows you to have all your data right in front of you at home, without requiring you to go to your local bank; it's easy and simple and the websites often help you along setting up and account or with any queries you may have. Online banking has to be completely secure though, as phishing can occur quite regularly. An example of phishing would be if you received an email from a site appearing to be your bank, which asks you to give in your details or says you need to enter them to sort out a problem. If you do so, then the site then has your bank details forever and can go into your account on the real website, stealing your identity as well as your money. This sort of activity has occurred on banking websites and also on the well known bidding site eBay and is a serious crime.
Advantages and DisadvantagesThe major disadvantage with E-Commerce would be the phishing scam which allows people to steal your money and identity. Another disadvantage is with some online stores such as eBay, there is no guarantee of product quality, so you could be receiving products you've paid a lot for, but are in bad condition. Plus website problems may pause transactions or delay them or even stop them at all, which could mean you lose money.
But the advantages are that you can do things now in the comfort of your own home, without needing to venture out to look for items in stores which might not be available, or going to the the bank to find it's closed when you need money. It's simple as well, with added guidance to help you whilst you search for things and purchase them. E-Commerce also means it's really easy to start up a business and gain money which will enable more sales and more trades to come through online to make money, which is always a plus.
References:http://www.esalestrack.com/blog/2008/09/advantages-and-disadvantages-of.html