E commerce
E-commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet (Rouse). These business transactions occur in business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business (Kinjal, 2014). The terms e-commerce and e-business are often used interchangeably. E-commerce is conducted using a variety of applications, such as email, fax, online catalogs and shopping carts and web services (Rouse). Most of this is business-to-business, with some companies attempting to use email and fax for unsolicited ads to consumers and other business prospects, as well as to send out e-newsletters to subscribers. The benefits of e-commerce include it’s around the clock availability, the speed of access, a wider selection of goods and services, accessibility, and international reach (Rouse). It’s perceived downsides include sometimes limited customer service, not being able to see or touch a product prior to purchase, and the necessitated wait time for product shipping.
E-commerce has grown remarkably and become the greatest form of communication, business operation, research and development. The acceptance of internet and globalization across the worlds has also affected the global e-commerce trends (Kinjal, 2014). This is mainly because e-commerce marketing and sales are spreading widely and playing a significant role in the world economy. The tremendous potential of the internet has led companies to devise new ways to present products and services that the businesses offer to the global market which has two most trending e-commerce business methods, the personalization and mobility (Shah, 2013). The general information that consumers share online with retailers is used to personalize an application. Everything from age, life style, contacts, friends and family, geography and social status are included during the personalization and play a helpful role in offering relevant
E-commerce has grown remarkably and become the greatest form of communication, business operation, research and development. The acceptance of internet and globalization across the worlds has also affected the global e-commerce trends (Kinjal, 2014). This is mainly because e-commerce marketing and sales are spreading widely and playing a significant role in the world economy. The tremendous potential of the internet has led companies to devise new ways to present products and services that the businesses offer to the global market which has two most trending e-commerce business methods, the personalization and mobility (Shah, 2013). The general information that consumers share online with retailers is used to personalize an application. Everything from age, life style, contacts, friends and family, geography and social status are included during the personalization and play a helpful role in offering relevant
References: Christopher, M. (2012, July 16). Will amazon take over the world?. Retrieved from http://business.time.com/2012/07/16/will-amazon-take-over-the-world/ Howen, A. (2014, March 3). 5 reasons amazon wins at e-commerce. Retrieved from http://www.websitemagazine.com/content/blogs/posts/archive/2014/03/03/5-reasons-amazon-wins-at-e-commerce.aspx Kinjal, A. (2014, March 3). 10 powerful ecommerce marketing trends that will dominate 2014. Retrieved from http://www.brandwatch.com/2014/03/10-powerful-ecommerce-marketing-trends-that-will-dominate-2014/ Rouse, M. (n.d.). e-commerce (electoronic commerce or ec). Retrieved from http://searchcio.techtarget.com/definition/e-commerce Schonfeld, E. (2011, May 11). How amazon controls ecommerce. Retrieved from http://techcrunch.com/2011/05/11/how-amazon-controls-ecommerce-slides/ Shah, K. (2013, October 22). Global e-commerce trends in 2013: Personalization and mobility. Retrieved from http://www.enterprisecioforum.com/en/blogs/kaushalshah/global-e-commerce-trends-2013-personaliz