E Commerce Is The Backbone Of Modern Global Markets

This also gives the consumer much more information and freedom over their purchases. The greatest thing about the Internet is the immense amount of information that is supplied by the online businesses. Companies can now cater directly to the consumers needs through a comprehensive website which details their exact information. Consumers also have the freedom to shop around on numerous other sites or do research on the product from their homes. A store can only provide the product with the limited information given on a box or by a third party that does not always give you the freedom to search and find the important information needed to make purchases. The Information Super-Highway gives the consumer total control over there needs because of the information that is distributed.

According to MarketLine, the world online retail market expanded by almost 18% in 2010 and is predicted to reach close to $435 billion in sales. The market is expected to reach a 90% growth by 2015 and exceed $827 billion in sales. Listed in an article “Ecommerce Growth Statistics”, the average amount spent by each consumer is expected to rise from $1,207 per year to $1,738 per person by 2016. That is a significant increase. That shows that people prefer to shop online than going to the actual store in today’s society. Shoppers will spend on an average of $327 billion online shopping in 2016, which is about 45% from $226 billion in 2012. It is very evident that consumers will drive ecommerce into the future; especially e-retail. In just a few years, purchases online will be more profitable than ever, with others products and services available to purchase such as mobile and social allowing consumers to shop to their convenience. For retailers and

Online commerce was introduced to consumers in the mid-1990’s, and in the years since, it has grown exponentially. It started out virtually nonexistent and has become a multi-billion dollar industry. Nearly every retail sector has entered online commerce; clothing, electronics, home, health and grooming items, even food and groceries are starting to gain traction online. Online commerce sites rival traditional brick and mortar stores such as Walmart and Target, as well as other big-box stores. As online retailers such as Amazon continue to expand, many brick and mortar stores have been making their way online, indicative of an increasing movement towards online commerce. With more than 80% of the online population having made an online

The internet can also be a good source of primary market research which enables firms such as Amazon to analyze prices of different websites. This would give the opportunity for Amazon to perhaps reduce prices or introduce offers which would help them sell more products. I believe it is entirely up to the company, this kind of competition would perhaps not effect Amazon due to their size in the market and their reliability where customers instantly visit Amazon knowing they will be given a fair price and receive their purchased item quickly. However, it did affect Jessops who failed to respond to demand and lower prices resulting in there imminent administration. I don’t believe that the increased usage of the internet reduces profits as some firms can be incredibly

In today’s society, the internet and other digital media have completely altered the way in which we market products. For the customer, it provides them with a larger choice of products, services and prices available from various suppliers and the means to select and purchase items more readily.

E-commerce is a product that has been available since the early 90’s. It is something that people are familiar with. A product that is now part and parcel of people’s lives.

Many retailers have expanded their retail market to an online market. Using the internet to sell their goods is known as e commerce. “Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance” (Network Solutions, n.d.). E commerce has expanded rapidly in recent years due to its convenience for the consumer and the increase in businesses that use electronic retailing (e-tailing). Businesses use different marketing methods in order to reach their customers and attract new ones.

Electronic commerce, or e-commerce, is defined as the buying and selling of products over an electronic system, typically the Internet. Business transactions occur either as business-to-business, business-to-consumer, consumer-to-consumer, or consumer-to-business. E-commerce ranges from online shopping (e-tail) to financial transactions such as mobile banking. Now that consumers can purchase unlimited amount of goods and services, e-commerce has completely revolutionized marketing. It has evolved and developed throughout the years to meet consumers’ needs, and now plays a big role in modern society. Like brick-and-mortar stores, e-businesses have both positive and negative effects on consumers. This research reveals the impact of e-commerce on consumer behaviour with reference to its convenience, cost-effectiveness, and safety.

It is without a doubt that e-commerce has become a part of life for most of us. The E-commerce industry has grown and has truly taken the world by storm. It has faced numerous challenges from its initial stages and has surpassed a ton of them, making it a successful innovation in how we shop. However, there definitely still is room for improvement, as there are challenges that are left to be addressed.

Our new technology driven society has brought change in many aspects of everyday life, one of the major and most altering advances of this era is the World Wide Web. Through this development the internet has established itself as one of our most used tools of technology, especially when it comes to the ease of using it in the world of business whilst creating one of its fastest growing markets, ecommerce. “Even in categories with relatively unchanged products, companies have leveraged technology to streamline production and create new efficiencies” (Kelly, M., Williams, C. (2018, Page 11). There are many areas in the United States and its markets that had been affected by the web and the spread of ecommerce, I will be touching on online shopping and how businesses have had to change in order to market for ecommerce driven demand, also commenting on the new opportunities in business that have been created in order to sustain demand and supply of ecommerce.

After a successful IPO, the electronic commercial (E-Commerce) colossus Alibaba boasts a world-class market capital of $231.4 billion according to the FORTUNE magazine [1]. With the huge success of Alibaba’s IPO, E-Commerce is considered as one of the most important and promising business in world. Then what is e-commerce? It is commonly exchanging goods or services via Internet. Today you can get all retail brands via their online presence and even private goods. Moreover, e-Commerce also includes business-to-business (B2B) transactions between manufacturers and suppliers or distributors or other business parties.

This is the age of the Internet and uses for this technology are expanding everyday. Some of the major newer uses include social networking, public broadcasting, global commerce, etc. E-commerce has become the way business is being transacted in the global economy. Most businesses are using enterprises software (SAP, Oracle, etc.) to manage their business and data mining to become more strategic in order to increase the profits of their companies. Amazon.com is using sophisticated analytics applications. Amazon pioneered business analytics to become the leader of retail industry in the world. Another example of a major online retailer is TaoBao.com in China. It dominates the online retail industry in China and claims more than eight

E-commerce is short for Electronic Commerce and over years there are different definitions of it. Since e-commerce is identified diversely by various scholars, many researchers normally used the term e-commerce based on their research scope. In this study, the definition of e-commerce provided by Turban, Lee, King, Mckay, and Marshall is adopted since it is simple yet comprehensive. According to Turban et al. , e-commerce is " to the process of buying, selling, or exchanging products, services and information via computer networks, including the Internet” (Turban et al. ,2008; p. 4). When e-commerce is implementation successfully, it can provide companies with a wide range of chances for improving some important business activities, for example, trading relationship, exchanging information, co-ordinating logistics and communication through regional or global supply chains (Humphrey, Mansell, Pare, &Schmitz, 2003).

In general, electronic commerce is the process of buying and selling goods or services using electronic systems between organisations and in business-to-consumers (Saxena, 2013). With the passage of time, it has become an important trait in the era of the internet. As a result of a research which had been conducted by the University of California, Los Angeles, and Centre for communication Policy (2001), it has been found that internet shopping is the 3rd most favoured task on the internet,

The Prevalence of E-Commerce Introduction The most common and traditional way to purchase goods for us is go to the high street stores where we pick up the goods what we like, pay for the prices at the check-out desk. However, the way has changed; 21 century is the world with E-commerce. People can no longer go to stores instead of buying all products at home over the internet. We can’t ignore the benefits of e-commerce.