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E-Commerce (electronic commerce or EC)

Ecommerce involves buying and selling of products or services through the Internet

Tina S
Tina S
Nov 18, 2009
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E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World Wide Web. Ecommerce is the best voted option for online selling considering the fact that it is a billion dollar industry with endless online store owners and online buyers. Electronic commerce has expanded rapidly over the past five years and is predicted to continue at this rate, or even accelerate.

Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. Ecommerce or online stores allow you to see something that is put up for sale even at the opposite end of the world. What makes Ecommerce a better sales option is that you don't need to step out of your home especially considering the busy lifestyle everyone has these days.
Common illustrations include Amazon.com, llbean.com, CompUSA.com, travelocity.com, and hotels.com.
 
In practice, this term and a newer term, e-business, are often used interchangeably. For online retail selling, the term e-tailing is sometimes used.
Most people are familiar with business-to-consumer electronic business (B2C).

E-commerce can be divided into:


•    E-tailing or "virtual storefronts" on Web sites with online catalogs, sometimes gathered into a "virtual mall"
•    The gathering and use of demographic data through Web contacts
•    Electronic Data Interchange (EDI), the business-to-business exchange of data
•    e-mail and fax and their use as media for reaching prospects and established customers (for example, with newsletters)
•    Business-to-business buying and selling (B2B)

E-tailing or "virtual storefronts" on Web sites with online catalogs, sometimes gathered into a "virtual mall"

As a place for direct retail shopping, with its 24-hour availability, a global reach, the ability to interact and provide custom information and ordering, and multimedia prospects, the Web is rapidly becoming a multibillion dollar source of revenue for the world's businesses. A number of businesses already report considerable success. As early as the middle of 1997, Dell Computers reported orders of a million dollars a day. Although many so-called dotcom retailers disappeared in the economic shakeout of 2000, Web retailing at sites such as Amazon.com, CDNow.com, and CompudataOnline.com continues to grow.

Form of interactive media/electronic marketing that allows customers to view and order merchandise on their computer screens. In a virtual storefront, customers can read about the history of the product, browse through product offerings, and place orders, all through the touch of the keyboard and mouse on their computers
Research

Again marketing online store on the Internet is also cost-effective. Moreover there are many methods for marketing online, such as direct mails, online advertisements, social networking sites, banner advertisements, PPC marketing and more. In this process, it is possible to reach consumers, update them about latest offers and increase profits considerably.
In early 1999, it was widely recognized that because of the interactive nature of the Internet, companies could gather data about prospects and customers in unprecedented amounts -through site registration, questionnaires, and as part of taking orders.

Electronic Data Interchange (EDI)

EDI (Electronic Data Interchange) is a standard format for exchanging business data. EDI involves data exchange among parties that know each other well and make arrangements for one-to-one (or point-to-point) connection, usually dial-up. EDI is expected to be replaced by one or more standard XML formats, such as ebXML.

E-Mail, Fax, and Internet Telephony

E-commerce is also conducted through the more limited electronic forms of communication called e-mail, facsimile or fax, and the emerging use of telephone calls over the Internet. Most of this is business-to-business, with some companies attempting to use e-mail and fax for unsolicited ads (usually viewed as online junk mail or spam) to consumers and other business prospects.

Business-to-business buying and selling (B2B)

Business to Business or B2B refers to electronic commerce between businesses rather than between a business and a consumer. B2B businesses often deal with hundreds or even thousands of other businesses, either as customers or suppliers. Carrying out these transactions electronically provides vast competitive advantages over traditional methods. When implemented properly, ecommerce is often faster, cheaper and more convenient than the traditional methods of bartering goods and services.

Setting up an Ecommerce Store is now very easy with software programs that come with ready to use Ecommerce store coding, designs and all functionalities. They are instant, very cost-effective and very convenient way to have own web store.


 
Keywords: E-Commerce (electronic commerce or EC), Business-to-business buying and selling (B2B),E-tailing or virtual storefronts,Electronic Data Interchange (EDI),e-mail and fax and Internet Telephony .



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