Extends Market Reach Around the Globe
A community's traditional market is bounded by the people that can effectively and efficiently be reached for both purchasing and selling goods and services. Global electronic commerce erases geographic boundaries so even the smallest community reaches around the globe.

Increases Convenience and Choice
Global electronic commerce enables more informed decisions allowing users to consult numerous online resources, comparison shop and even test certain products without ever leaving the house or office. Because technology enables electronic cataloguing of volumes of online product and service information, consumers can specify preferences, leaving sellers to respond only to the particular criteria. In addition, global electronic commerce increases consumer convenience because consumers - individuals, municipal departments, or large corporations - can locate and purchase goods and services twenty-four hours per day, seven days per week.

Generates New Business Opportunities
Global electronic commerce is a 21st century economic development tool. The explosive growth of information networks, and increasing consumer confidence in technology, open the door for today's commercial pioneers to develop new businesses, and revitalize existing businesses. To a large degree, these businesses capitalize on the array of information available through networks and the new levels of interaction they promote. For example, there are a number of new companies whose core business is organizing, managing and presenting online information so it is easy for consumers to use. Others are building virtual communities to unite people with common needs and interests by providing a forum for the exchange of information, experiences and ideas.

Enhances Competition and Reduces Prices
Global electronic commerce is a great leveler. It allows diverse businesses, whether small or large, urban or rural, capitalized or on a shoestring budget, to compete on a common playing field. Also, because information networks and technology conveniently make information available to consumers, the result is more competition, better quality products and services, as well as reduced prices. For example, many companies post free information on the Web, encouraging consumers to learn more about their products and services. Others offer online customer service centers that field questions twenty-four hours per day. These changes not only signal a change in the commercial market, but also a change in the way consumers define market value.

Creates New Market Efficiencies
Global electronic commerce provides users with an opportunity to benefit from every market opportunity. For example, airlines use communications networks and information technology to electronically issue special, last minute fares at very low cost to fill open seats on selected flights. The low fares are publicized via e-mail or posted on the Web and enable airlines to fill their planes, maximizing revenue. Consumers are able to fly at a fraction of the usual cost. Local governments can allow zoning permits to be filed electronically once and automatically distribute them to the necessary offices, rather than requiring filers to make dozens of hard copies and hand deliver them.

Streamlines Operations and Reduces Costs
Businesses, government agencies and other organizations around the world already use networks and information technology to connect their operations directly to their core constituencies including citizens, customers, employees, suppliers, contractors and distributors. The result is streamlined operations and reduced costs. For example, customers place orders electronically and check account status or track package delivery online. Using new distribution models, companies centralize inventory and distribution functions. And by fostering more robust information exchange, global electronic commerce enables governments to be more responsive to citizens' needs, and it provides businesses with the means to more precisely schedule order and delivery of parts and supplies, reducing on-hand inventory while still meeting customers' demands.