Emerging Trends of E-Commerce

1054 WordsJan 28, 20184 Pages
PROLOGUE What is E-commerce? The world is moving from the traditional economy that stressed on physical manufacturing of goods to the new economy which concentrates more on knowledge and information than anything. Electronic commerce or e-commerce is an important facet in this regard. E-commerce brings forth a tougher business competition, creation of new marketplaces, faster speed of transactions, and rapid growth in technologies. E-commerce can be generally understood as a terminology to denote a system or a method of conducting business through electronic media rather than through conventional physical means. E-commerce is defined as, “the use of electronic transmission medium to engage in exchange, including buying and selling of products and services requiring transportation, either physically or digitally, from location to location.” It is preferred over conventional methods as it provides convenient access to products that may otherwise not be accessible, provides an efficient way of entering into transactions, both for consumers and e-retailers. Further, e-commerce has made possible low-value cross-border transactions on a scale that previously was unimaginable. E-commerce received huge popularity because of the automation technique used by it. Due to ease in transaction the number of e-consumer is growing at high rate and within a very short period it will defeat physical consumer Today, e-commerce is being implemented to e-business. Electronic business not only
Open Document