E-commerce (e-commerce or EC) - what is it?
Ecommerce - e-commerce or EC - is the purchase and sale of goods and sevices or the transfer of money or information over an electronical networks, primarily the Internets. E-commerce and e-business are often used as interchangeable concepts. Sometimes the word e-tail is also used to refer to transaction processing in on-line retailing.
E-commerce began in the 1960', when enterprises began to exchange corporate data with other enterprises via EDI. As the number of single document owners growing in the 1980' s, the emergence of eBay and Amazon in the 1990' revolutionised the e-commerce world.
Today, shoppers can buy countless articles on-line, from e-merchants, from typically stationary shops with e-commerce functionality and from each other. E-commerce means the exchanging of goods, information or a service electronically between companies and not between companies and users. For example, on-line catalogs as well as commodity and stock exchanges sites enable companies to browse for commodities, provide information and launch deals via e-procurement interface.
Forrester Research forecast in 2017 that the US e-commerce B2C industry will reach $1.1 trillion by 2021, representing 13% of the nation's total B2C revenue. B2C is the retailing part of e-commerce on the web. This is when companies directly offer goods, as well as information and service, to customers.
It was a household name during the dotcom booming of the later 90s, when on-line merchants and vendors were a first. Salesforce connects the experience of buying in the shop and on the Web. 2 Consumer-to-Consumer (C2C) is a form of e-commerce in which customers deal with each other on-line for goods, information and more.
As a rule, these operations are handled by a third person who provides an on-line trading environment. eBay and Craigslist are among the most sought-after eBay and Craigslist sites, and eBay and Craigslist are among the most sought-after eBay and Craigslist sites. Since eBay is a company, this type of e-commerce could also be referred to as C2B2C -- consumer-to-business-to-consumer.
C2B is a form of e-commerce in which customers make their goods and provide their service on-line so that businesses can offer and buy on it. It is the opposite of the B2C trading paradigm. B2A relates to on-line transaction between businesses and governments or administrations.
Lots of governments depend in one way or another on e-services or e-items, especially when it comes to regulatory documentation, registries, social protection, taxes and jobs. In recent years, SRB2A service growth has been strong due to investment in e-government skills. C2A relates to on-line transaction between individuals and the general or governmental authorities.
Governments seldom buy goods or provide service from people, but private persons often use electronics in the following areas: Occupational healthcare - arrange meetings, provide information about illness, make healthcare payment, etc. In view of the recent surge of e-commerce in the stratosphere, many experts, business experts and consumer have discussed whether the B2C on-line B2B business will soon become outdated, whether stationary shops will become physically outdated.
There is no doubt that on-line buying is increasing significantly. Scientists estimate a 15% rise in US revenue and overall value for on-line buying between 2016 and 2017, while on-line buying only grew by 4.5%. However, off-line buying is still a dwarf of selling on line. E-commerce revenues in the first three months of 2018 represented only 9.5% of overall revenues, according to the U.S. Census Bureau and the Department of Commerce, and many consumers choose to shop in-store.
BigCommerce research has found that Americans are roughly evenly distributed between on-line and off-line shoppers, with 51% of Americans favouring e-commerce and 49% favouring manual business. But 67% of MDs favour buying on-line over off-line. One example of the effects e-commerce has had on physically retailing is the purchase after Black Friday and Cyber Monday in the U.S. According to Rakuten market research, Cyber Monday in 2017 - with products sold solely on line - saw 68% higher revenue than Black Friday - which is historically the largest tile purchase this year.
Almost 40% of Black Friday revenue came from a wireless terminal, almost 10% more than last year, suggesting that e-commerce is becoming m-commerce. Merchandising is an increasing form of e-commerce that involves on-line selling via smart phones and portable terminals. Merchandising comprises wireless services such as wireless commerce, wireless commerce and wireless payment.
The Internet Retailer said that by 2015 cell phones made up 30% of all e-commerce activity in the US. Furthermore, according to OuterBox, 62% of smart phone customers purchased on-line with their portable devices in the last six month of 2017. E-commerce capabilities for business are also offered by chat bots so that customers can make deals with business by speech or text.
eCommerce is powered by a wide range of apps including e-mail, on-line catalogues and trolleys, EDI, File Transfer Protocol, web hosting and portable computing. These include business-to-business and public relations efforts, such as the use of emails for undesired advertising - usually considered spamming - to consumer and other prospective buyers, as well as the delivery of e-newsletters to subscription customers and text messaging to text messaging systems.
An increasing number of businesses are now trying to directly engage customers on-line using features such as discount vouchers, corporate advertising and targeting. Advantages of e-commerce are 24/7 availibility, rapid acces, broad range of goods and sevices available to customers, ease of acces and global coverage. Some of its noticed drawbacks are restricted after sales support, the fact that customers cannot see or contact a certain item before purchasing it, and the waiting period for shipment.
E-commerce's emergence has compelled IT staff to go beyond the mere designing and maintaining of the infrastructures to take into account a number of customer-focused issues such as personal information confidentiality and consumers' safety. IT system and application development to adapt to e-commerce activity must take into account information governance-related compliancy mandates, personal information protections, and information disclosure records.
The Federal Trade Commission (FTC) and the Payment Card Industry (PCI) Security Standard Council are among the most important e-commerce regulatory bodies in the United States. FTC oversees operations such as on-line promotion, e-commerce, content merchandising and consumer information protection, while PCI Council is developing guidelines and regulations, incorporating PCI Information Security Standard adherence, that establish practices for the correct management and retention of consumer finance information.
Which are the greatest commercial advantages and threats associated with the growing use of e-commerce practice by enterprises and customers? In order to maintain the safety, data protection, and efficiency of e-commerce, organizations should verify operations, monitor resource availability such as Web pages for registrated or select user, encode communication, and deploy secure technology such as Secure Sockets Layer and two-factor authentification.