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There's a very high level of competition, and your prices have to be rock bottom, because there's probably another site out there selling whatever you are for less money (the customer has a very broad range of choices).... meaning there's very little markup. So basically you attract a small number of customers and make a minimal markup on everything you sell.
Not to be negative, but you asked for the disadvantages. It's very difficult to make any real money with an e-commerce store unless you have something unique.