Electronic Commerce, commonly known as (electronic marketing) e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks.
The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. A wide variety of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management systems, and automated data collection systems. Modem electronic commerce typically uses the World Wide Web at least at some point in the transaction’s lifecycle, although it can encompass a wider range of technologies such as e-mail as well.
A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items in some way. Online retailers are sometimes known as e-tailers and online retail is sometimes known as e-tail. Almost all big retailers have electronic commerce presence in the World Wide Web.
Electronic commerce that is conducted between businesses is referred to as business-to-business or B2B, B2B can be open to all interested parties (e.g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that is conducted between businesses and consumers, on the other hand, is referred to as business-to-consumer or P22C. This is the type of electronic commerce conducted by companies such as Amazon.com.
Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of the business transactions.
Business applications
Some common applications related to electronic commerce are the following:
· Email
· Enterprise content management
· Instant messaging
· Newsgroups
· Online shopping and order tracking
· Online banking
· Online office suites
· Domestic and international payment systems
· Shopping cart software
· Teleconferencing
· Electronic tickets
Forms
Contemporary electronic commerce involves everything from ordering “digital” content for immediate online consumption, to ordering conventional goods and services, to “meta” services to facilitate other types of
electronic commerce.
electronic commerce.
On the consumer level, electronic commerce is mostly conducted on the World Wide Web. An individual can
go online to purchase anything from books or groceries, to expensive items like real estate.
Another example would be online banking, i.e. online bill payments, buying stocks, transferring funds from
one account to another, and initiating wire payment to another country. Al of these activities can be done
with a few strokes of the keyboard.
go online to purchase anything from books or groceries, to expensive items like real estate.
Another example would be online banking, i.e. online bill payments, buying stocks, transferring funds from
one account to another, and initiating wire payment to another country. Al of these activities can be done
with a few strokes of the keyboard.
On the institutional level, big corporations and financial institutions use the internet to exchange financial data
to facilitate domestic and international business. Data integrity and security are very hot and pressing issues
for electronic commerce today.
to facilitate domestic and international business. Data integrity and security are very hot and pressing issues
for electronic commerce today.