Monday, March 29, 2010

So, What is E-commerce?

The Internet has created a new economic ecosystem, the e-commerce marketplace, and it has become the virtual main street of the world. Providing a quick and convenient way of exchanging goods and services both regionally and globally, e-commerce has boomed. Today, e-commerce has grown into a huge industry with US online retail generating $179 billion in revenues in 2010, with consumer-driven (B2C) online transactions impacting industries from travel services to consumer electronics, from books and media distribution to sports & fitness. So Lets see what is E-commerce:

E-commerce: E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet. In practice, this term and e-business are often used interchangeably. For online retail selling, the term e-tailing is sometimes used. It has lot of benefits too:
1. Global Presence: The penetration of your business is Global. Means your business can go from India to US, Australia to South Africa.
2. Less Cost: The cost of operations is affordable to anyone. Anyone with a good idea can start and e-commerce business without much investment and can get good returns.

Many people see e-commerce as some software or some website. These are the aids to perform the business over internet. For better understanding, you can see this link. How E-commerce Works

I hope this will help.