E-Commerce

E –COMMERCE

Nowadays, Electronic Commerce or E-Commerce is considered as a relatively new, emerging and constantly changing era of information technology as well as business management. Electronic Commerce is still a relatively new, developing, and ever-changing field of company management and information technology even today, a long time after the so-called dot com/Internet revolution.

• What is actually meant by E-Commerce?Electronic commerce, or e-commerce refers to the purchasing and selling of goods and services using electronic channels like the Internet and various other computer networks. It actually refers to the entire process of marketing and serving customers all over the internet. It has actually revolutionized the way in which a company carry out a business. These transactions made by the business occur as Business-to-Business (B2B), Business-to-Customers (B2C), Consumer-to-Consumer(C2C), and Consumer-to-Business(C2B). The term e-commerce as well as e-business both go hand in hand.

Types of E-Commerce• BUSINESS-TO-BUSINESS (B2B)- This refers to the electronic exchange of products, services or information between 2 businesses and consumers.• BUSINESS-TO-CONSUMERS (B2C)-This refers to the retail part of e-commerce on the internet. B2B takes place when business sell products, services or information directly to the consumers.

• CONSUMER-TO-CONSUMERS (C2C)-It’s a type of e-commerce where consumers trade products, services or information between each other through online.
• CONSUMER-TO-BUSINESS (C2B)-This refers an e-commerce where consumers make their products and services available online for companies to bid and purchase.
• BUSINESS-TO-ADMINISTRATION (B2A)- This refers to the transactions made online between companies and the public administration.
• CONSUMER-TO-ADMINISTRATION (C2A)-- This refers to the transactions made online between consumers and the public administration.

Why is E-Commerce considered important?Nowadays, E-Commerce has become a part of study of all the courses of management and commerce. With the help of e-commerce, customers can have a wider choice at their fingertips as they help in bringing together many consumers, retailers and sellers. Through this, goods are available at cheaper price and helps to globalise retail trading as one can buy things without any geographical boundaries. All the suppliers, customers and competitors come under one roof through internet websites. Companies can reach a wider audience and can have lower operational costs. Through e-commerce, shopping from home is more convenient to the customers. Main advantage of e-commerce is that it offers great convenience. ie, a customer can shop 24x7 as the website is functional at all the times, it doesn’t have working hours like normal stores.

Highlighting the Features of E-Commerce• GLOBAL REACH- Global reach can be defined as the total number of users or customers an e-commerce business can obtain. It is because the website supplies many languages to let various users understand it.• PERSONALIZATION- This mainly refers to the practice of creating personal experiences and interactions for customers online. These persnolizations/customizations are based on customer’s previous purchases, browsing behaviour, their locations and their personal information.• UBIQUITY- Ubiquity can be referred as the state of being everywhere at once. Since e-commerce is available everywhere, ubiquity is a unique feature of e-commerce.• INTERACTIVITY-It enables two-way communication between merchants and consumers.

• INFORMATION DENSITY-It’s the total amount and quality of information available to all the market buyers and sellers over the internet. Internet helps in increasing the information density. It provides better quality information to consumers and merchants.

Can E-Commerce be a start of a new era?E-commerce has enabled a lot of manufactures to reach out to huge customers. E-commerce is now a mega platform which is used by a lot of people. It has been a changing point for many young entrepreneurs. It has been very much beneficial to all those who wanted to create a mark in the world of business. Thus, we can say that E-commerce is the stepping-stone for the success of many new trades.

E-commerce hence would continue to gain popularity, and it has also simplified shopping behaviours for many individuals. It is now being recognized as the quickest way of conducting business in modern days. https://zamanpv.com/