E-commerce has gained immense popularity among the people of the internet in recent years for its convenience, affordability and flexibility. This has completely changed the way people conduct their business and makes it easy for them to do business with the goods and services they need through their computers. E-commerce includes various activities like business inventory, managing business transactions, billing customers and maintaining client records and many more. It is considered one of the easiest ways to make a profit with the help of internet. The main advantage of e-commerce over the traditional forms of business is that the business can be conducted from anywhere in the world and at any time of the day.
E-commerce is basically the act of physically purchasing or selling of goods over the Internet or over online, electronic commerce services. The term ‘e-commerce’ is actually derived from ‘electronic commerce’. E-commerce involves electronic commerce in the sense that transactions are made via the internet. However, the term electronic commerce does not necessarily mean only electronic commerce. Electronic commerce includes non-electronic trades as well.
E-commerce facilitates direct interactions between consumers and businesses, which include purchase and sale of commodities and services and all other kinds of financial transactions. The concept of e-commerce was developed to overcome problems associated with inefficient and localized supply chain processes. E-commerce includes online marketing and advertising, payment systems, data-processing, electronic communications, computer applications, electronic data interchange, real-time online monitoring and integrated cataloging. E-commerce also involves supply chain management, including warehousing, support, transportation, production and handling.
In the case of e-commerce, consumers interact directly with businesses via computer and Internet. This gives rise to increased efficiency in supply chain procedures and greatly reduces the operational costs. Consumers can now conduct all financial transactions including making payments and obtaining goods and services. E-commerce businesses have enabled millions of consumers to access online business through various modes such as web, mobile, tablets and other handsets. This has created a large customer base for retailers, wholesalers, manufacturers and services providers.
E-commerce has facilitated faster growth of business by reducing costs, eliminating physical store requirements and increasing consumer convenience. E-commerce businesses facilitate direct transactions between consumers and businesses, including purchase and sale of commodities and services. E-commerce also includes online marketing and advertising, payment systems, data-processing, electronic data exchange, computer applications, electronic data interchange, real-time online monitoring and integrated cataloging. E-commerce offers cost effective and convenient alternatives to traditional forms of commerce. E-commerce has enabled millions of consumers to access online business through various modes such as web, mobile, tablets and other handsets.
E-commerce websites usually offer customers several alternative choices when it comes to purchasing products and services. This increases the chances of customers making purchases from a website instead of a brick and mortar store. E-commerce websites have come up with interactive pages that allow customers to browse through the site and buy the things they want. With this convenience at hand, more people prefer shopping online. Most of these online shoppers do not go out of their houses; they make purchases from the comforts of their home. Through online shopping, customers can choose from a wide variety of products available and can compare them on the spot.
Amazon and eBay are two giant online retail companies that have revolutionized the concept of ecommerce transactions. Amazon is known for providing products with affordable prices and an easy online purchasing experience. eBay on the other hand, is well known for its auction-style platform and has become a place where buyers and sellers meet. Both these websites have enabled consumers to purchase digital products or services from sellers across the globe and have helped in boosting the revenue of both companies. It is estimated that there are billions of dollars going through ecommerce transactions every year and most of it comes through eBay and Amazon.
These online sites have also provided answers to frequently asked questions by the consumer about how to sell online. The frequently asked questions are, how does a buyer go about buying something on eBay or Amazon, what is the distinction between regular retail and E-commerce and most importantly, how does one become a seller? The answers to these frequently asked questions are simple. A buyer uses his credit card to make an electronic transaction and then he or she will provide some kind of information like a product description or price to the seller. In order to sell online, a buyer has to create a personal account with the site and then he or she will be able to post advertisements. Posting advertisements is also called as selling stuff.