E-commerce stands for Electronic Commerce. The buying and selling of products and services by businesses and customers over an electronic medium (Internet), without using paper documents. Electronic commerce refers to the commercial activities like on-line shopping and payment transactions using computers and the Internet. E-commerce consists three types 1: business to business or B2B (Cisco), business to consumer or B2C (Amazon), and consumer to consumer or C2C (eBay).
Electronic commerce involves the technologies like mobile commerce, the internet electronic funds trInternetmarketing, online transaction processing, supply chain management, and automated data collection systems etc.
Now a day’s e-commerce becoming a growing industry all over the world. There are many e-commerce sites to selling various kinds of products using this people can buy all varieties of things by sitting at their homes. Payments usually are made via net banking, debit cards or credit cards. Many e-commerce sites also offer facilities of ‘cash on delivery’ these days and E -commerce covers the global information economy
The following things are made E-commerce in trend:
- Businesses will reach people around the world easier using e-commerce and starts their job without approaching their suppliers directly. This Business will provide access to the consumers these results increase in access.
- The customers access the product listing and the pricing directly from the Internet without any phone calls and e-mails which reduce the sale cycle.
- E-commerce decreases the effort required to do business. It reduces the number of inventory costs, purchasing costs, manpower required, and order processing costs associated with faxing, phone calls and data entry. Totally it reduces the cost of business.
- E-commerce decreases the effort required to do business. It reduces the number of inventory costs, purchasing costs, manpower required, and order processing costs associated with faxing, phone calls and data entry. Totally it reduces the cost of business.
- Using advancement of payment technologies, E-commerce allows encrypted and secure payment facilities on-line. It is best payment system than anything.
- Using of proficient software, most of the business-related tasks can be done automatically. Business processes such as storing of inventory levels, receiving logs and shipping and other business administration processes are automatically stored.
- E-commerce serves as a medium for start-up; small- and medium-sized companies to reach the global market and it reduces the burden of staff.
- E-commerce allows parceling of the production process to the contractors who are geographically separated but are connected through the Internet. This helps in selling of add-on products, services, and new systems
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