Electronic commerce, commonly known as E-Commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange, inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail, mobile devices and telephones as well.
E-Commerce appeals to the population at large for several key reasons.
- It is the most convenient way to shop.
- It doesn’t involve lines or long drives.
- E-Commerce typically offers a larger selection than brick and mortar stores.
- E-Commerce offers the ability to shop 24 hours a day
- Most E-Commerce stores offer bigger discounts and savings on their products.
- Comparison-shopping is simple because of the vast selection.
With all of the benefits offered to the typical consumer, it just makes sense that the business of E-Commerce will continue to boom.
Even more than benefiting the average consumer, E-Commerce makes doing business easier and more economical for merchants and retailers. Advancements in technology have provided a fast, cheap way to sell and market products. Because of the mass appeal of the Internet and the enormous visibility, advertising and marketing has become an integral part of the ecommerce business model. E-Commerce also offers less overhead, a wider marketing base, and eliminates the need for a physical storefront. Those with the brick and mortar storefront also have ecommerce sites; this is the greatest proof that E-Commerce is here to stay, it is just easier and much more efficient to find, compare and decide. The greater visibility ecommerce offers will mean that many businesses can expand far beyond their limits of a physical store, but it also means a market at risk of becoming saturated, which is why internet marketing is one of the most essential aspects of the E-Commerce business model.
Nowadays, as time goes by, people are becoming idler. They want to do the same things but without less effort so, this way of business is really interesting and profitable because, is covering what people want: an easy way of buying all kind of things without leaving their homes.
ResponderEliminarSociety, every time have less time to buy and the few free hours that they have, they don’t want to spend them making those huge queues for buying something. That is why I am saying that this is an interesting business; it offers an easy way of buying things without spending much time.
Let’s see what happens with these types of business in some years. Will acquire more market share than the typical stores? We will see…