Electronic commerce or ecommerce is a term for any type of business, or commercial transaction, that involves the transfer of information across the Internet. It covers a range of different types of businesses, from consumer based retail sites, through auction or music sites, to business exchanges trading goods and services between corporations. It is currently one of the most important aspects of the Internet to emerge.
Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. Electronic commerce has expanded rapidly over the past five years and is predicted to continue at this rate, or even accelerate. In the near future the boundaries between "conventional" and "electronic" commerce will become increasingly blurred as more and more businesses move sections of their operations onto the Internet.
Business to Business or B2B refers to electronic commerce between businesses rather than between a business and a consumer. B2B businesses often deal with hundreds or even thousands of other businesses, either as customers or suppliers. Carrying out these transactions electronically provides vast competitive advantages over traditional methods. When implemented properly, ecommerce is often faster, cheaper and more convenient than the traditional methods of bartering goods and services.
Electronic transactions have been around for quite some time in the form of Electronic Data Interchange or EDI. EDI requires each supplier and customer to set up a dedicated data link (between them), where ecommerce provides a cost-effective method for companies to set up multiple, ad-hoc links. Electronic commerce has also led to the development of electronic marketplaces where suppliers and potential customers are brought together to conduct mutually beneficial trade.
The road to creating a successful online store can be a difficult if unaware of ecommerce principles and what ecommerce is supposed to do for your online business. Researching and understanding the guidelines required to properly implement an e-business plan is a crucial part to becoming successful with online store building.
- immediacy - no going to the shops or waiting in queues.
- price - goods bought online tend to be cheaper.
- choice - the range of goods available is vast and with sites like http://www.kelkoo.co.uk that let you compare goods from many retailers it is easy to find what you want.
- 24-hour availability - the shop never closes.
- speed - you'll locate what you want much quicker.
- global markets - neither you nor the vendor are restricted to your/their locality.
- Fully Dynamic Website.
- interactivity - get immediate feedback on prices, features etc.
- You can Upgrade Your Package to Promotional Package(SEO) to Promote Your Business of World Level with Minor Charges.
- less paperwork - always a good thing!
Advantages And Disadvantages Of Ecommerce
The invention of faster internet connectivity and powerful online tools has resulted in a new commerce arena – Ecommerce. Ecommerce offered many advantages to companies and customers but it also caused many problems.
- Faster buying/selling procedure, as well as easy to find products.
- Buying/selling 24/7.
- More reach to customers, there is no theoretical geographic limitations.
- Low operational costs and better quality of services.
- No need of physical company set-ups.
- global markets - neither you nor the vendor are restricted to your/their locality.
- Easy to start and manage a business.
- Customers can easily select products from different providers without moving around physically.
- Any one, good or bad, can easily start a business. And there are many bad sites which eat up customers’ money.
- There is no guarantee of product quality.
- Mechanical failures can cause unpredictable effects on the total processes.
- As there is minimum chance of direct customer to company interactions, customer loyalty is always on a check.
- There are many hackers who look for opportunities, and thus an ecommerce site, service, payment gateways, all are always prone to attack.
Ecommerce words describes its own explanation for all internet based business. eCommerce Technology has expanded their branches in all market segments. Day by day we look some new technology and eCommerce application for our business. eCommerce is not new technology. It has been running from 10 years back. From back to current eCommerce technology has changed the lots for business profiles and vital product, pricing and retailer client details on more than 1,200 application developers and service providers in 23 different e-commerce market segments. These changes make it better.
The time is for gaining and achieving the some more features to stay away for long time in the eCommerce market. In the eCommerce technology development hundreds of eCommerce solutions and vendors are running and continually developing the best features to make it useful and perfect for their client.
The most important thing is how do you find the right one for your business ?, what do they have the quality? Basically it is important to know much that unique features of eCommerce Technology have included.
- Ubiquity: It is available just about everywhere and at all times. Consumer can connect it to the Internet at any time, including at their homes, their offices, on their video game systems with an Internet connection and mobile phone devices. eCommerce is ubiquitous technology which is available everywhere and can access all times by using internet and Wi-Fi hotspot such as airport, coffee cafe and hill station places.
- Global reach: The potential market size is roughly equal to the size of the online population of the world. eCommerce Technology seamlessly stretch across traditional cultural and national boundaries and enable worldwide access to the client. eCommerce website have ability to translate the multilingual websites as well as allow the access to international visitors all over the world.
- Universal standards: The technical standards of the Internet and therefore of conducting ecommerce, are shared by all of the nations in the world. The whole online tradition are growing and expanding their own features in the world. To development the any kind of business need Internet and communication application which make the business relationship more lovingly and attractive for secure business and successful business. eCommerce Technology provide us powerful application to access our social networking and online eCommerce store any time and everywhere.
- Richness: Information that is complex and content-rich can be delivered without sacrificing reach. It has been so simple to keep the record of our tradition communication within the eCommerce time. You can save your audio, video, sent files, received files or data in your user account.
- Interactivity: E-commerce technologies allow two-way communication between the merchant and the consumer. You can call them by using the voip and track the communication record. And second is is email communication which allow you to access all kind of mailing systems and tracking.
- Information density: The total amount and quality of information available to all market participants is vastly increased and is cheaper to deliver. Most business owners use the shopping cart and do the order of product and purchasing online. Online shopping process allows a consumer or company to receive personal details, product shipping, billing and payment information from a customer all at once and sends the customer's information to the appropriate departments in a matter of seconds priority.
- Personalization/Customization: E-commerce technologies enable merchants to target their marketing messages to a person’s name, interests and past purchases. They allow a merchant to change the product or service to suit the purchasing behavior and preferences of a consumer.
- Social technology: User content generation and social networking technologies is most useful features which accelerate the client activity to share the information and content with one click. eCommerce technology has tie up the social media networking application to provide the best source of content sharing technology and eMarketing systems.
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