Potential Future Of E Commerce Essay

E-commerce Explain what is meant by the term ‘E-commerce’. It is the conducting of business communication and transactions over networks and through computers. As most restrictively defined, electronic commerce is the buying and selling of goods and services, and the transfer of funds, through digital communications. However EC also includes all inter-company and intra-company functions (such as marketing, finance, manufacturing, selling, and negotiation) that enable commerce and use electronic mail, EDI, file transfer, fax, video conferencing, workflow, or interaction with a remote computer. Electronic commerce also includes buying and selling over the Web, electronic funds transfer, smart cards, digital cash (e.g.

Electronic commerce, commonly known as e-commerce, refers to “buying and selling processes that make use of electronic technology” (Ebert, 274). With the development of technology, e-commerce becomes increasingly popular and affects traditional retail sales negatively. More and more people would like to buy and sell goods and services through internet. The statistic from Adobe Systems Inc., in 2017 “e-commerce sales are up about 17 percent,” conversely, “the number of people visiting U.S. stores on Thanksgiving and Black Friday fell 4 percent from last year” (Nassauer and Stevens). By considering this percentage, e-commerce has more competitive advantages than the traditional retail industry as it provides customers a more efficient and cheaper way to shop, increases businesses profits by reducing total company expenses, and leads to domestic economic stability and growth.

It is important to note that in the recent past, technology (and most particularly the Internet) has effectively changed the way people conduct business. Today, most businesses have come to the realization that to remain relevant in a highly competitive marketplace; they must fully exploit the opportunities presented by both technology and the Internet. In this text, I discuss a number of issues arising out of my resolve to engage in e-Commerce as the owner of a small clothing store along the Jersey Shore boardwalk.

What does that mean for your business? If you know more about digital marketing than your rivals, then you will have a big advantage over them. If your opponents are outpacing you online, then you will struggle to compete with them.

Over the last few years the rapid expansion of the internet has lead to many technological, business and social shift. Examples of such shifts are the increased demand for greater internet bandwidth, the movement from physical shops to online shops and the social acceptance and trust in using the internet for financial transactions. As the internet and E-Commerce become more integrated into our lives they continuingly drive changes in how we work and live as mentioned above. The future of E-Commerce promises to bring further changes in our lives as the internet continues to expand and it is these possible future shifts which I will discuss in further detail.

Today’s economy has become a global one due to the use of the internet. Traditional companies are accepting the mission of using new virtual technologies in their business since the use of the internet has opened larger and advantageous international markets. Proud of the costly infrastructure, traditional companies are finding themselves being eclipsed by smaller companies that have used the internet to attract new customers. In order to achieve great results, companies in today’s economy are obligated to embrace the use of the internet (Markus, T. 2008).

In the past couple of the decades, internet technology has grown enormously. Users have access to millions of resources in front of them instantly. According to Zakaria “the internet users in December of 2000 were “360,985,492”, and in December 2011 the number of users became “2,267,233,742”, with a growth of 528.1%.” The in The world of businesses is changing because of E-commerce has been essential tool for businesses. About 53 percent of all purchases are by E-commerce Businesses have come up with plans to use E-commerce to deliver their products and services to the market. However, there are some risk of using E-commerce, the risk are financial, performance, or social risks. Not taking the right steps and having poor security can cause identity theft.

Over the years, E-commerce (Electronic Commerce) has brought lot of changes in the business world. It refers to the buying and selling of goods and services without using any paper documents to the customers through electronic medium (investorwords.com, 2016). The E-commerce was introduced on 1970s as a transfer of funds. The development of e-commerce was fast over the countries since 2000. E-commerce is considered to be one of the ways of increasing profits in firms. Small and medium-sized enterprises (SMEs) are determined by staff headcount and either turnover or balance sheet total (Ec.europa.eu, 2016). SMEs have been contributing to the more economic growth and job creation (forbes.com, 2015) .SMEs has experienced significant changes in business when they adapted to e-commerce. This essay will go through the relationship between e-commerce and small-medium sized organization, changes and development E-Commerce has brought to the world of SMEs.

The e-commerce market has changed the way business is functioning, whether in retail or business-to-business, locally or comprehensively. Before the Internet, accomplishment in retail was said to depend on area. Presently, the Internet is a worldwide commercial center, managing even the littlest retailer a national - if not a worldwide - vicinity. Block and-mortar areas now have sites, and new organizations now offer items that were unimaginable preceding the Internet and the blast

The world largest computer network is the internet. With the astonishing growth of the Internet nowadays, many companies are finding new ways to expand their business opportunities. One can even say that there¡¯re almost all companies used computers in their everyday business. Thus, E-commerce is emerging as an increasingly important way for businesses to reach potential customers.

E-Commerce is a method for working together exchanges by means of the web. It deals with establishing customer to buyer relations, business to business (B2B) purchasing and offering. It involves exchanging items or administration using computers. There are many advantages and disadvantages for both consumer and economies. In developed countries like U.S., it has helped in the growth of business knowingly. It helps in expansion of client base with the ability to market products online worldwide. It functions day in day

The phenomenal growth of the internet since the mid- 1990s is an unprecedented event in the history of information and communications technology (Chircu et al, 2000). The internet has already fundamentally changed the way many organizations think about and perform their work. The last few years have shown us the revolution of e-commerce in all over the world; so many organizations take this opportunity in our dynamic environment and adapt themselves in order to take the benefits of this new business model. To improve profits and achieve strategic sustainability in a rapidly changing competitive environment, many Websites have been repackaging themselves by targeting new markets, expanding into the offline world, forming alliances, licensing software, and adjusting their core offering to focus on the most profitable products and customers (Chircu et al, 2000). It’s also important to recognize that ecommerce applications are business in itself rather than only supporting it. E-commerce is defined as “the exchange of money, information, services, and products between economic entities over the internet, networks, and other digital technologies” (laudon & laudon, 2004). E-commerce involves any business transaction executed electronically between parties such as companies “B2B” business-tobusiness, companies and consumer “B2C” (business-to-consumer), participant individuals with one serving as a buyer and the other as a seller “C2C” (consumer-toconsumer),

Abusiness modelis defined as the organization of product,serviceandinformation flows, and the source of revenues and benefits for suppliersandcustomers.In the past two years, e-business seems to have permeated every aspect of dailylife. In just a short time, both individuals and organizations have embraced Internettechnologies to enhance productivity, maximize convenience, and improve communicationsglobally. From banking to shopping to entertaining, the Internet has become integral to dailyactivities. For example, just 23 years ago, most individuals went into a financial institutionand spoke with a human being to conduct regular banking transactions. Ten years later,individuals began to embrace the ATM machine, which made banking activities moreconvenient. Today, millions of individuals rely on online banking services to complete a large percentage of their transactions.The rapid growth and acceptance of Internet technologies has led some towonder why the e-business phenomenon did not occur decades ago. The short answer is: itwas not possible. In the past, the necessary infrastructure did not exist to support

Electronic trade and actions identified with it that are directed over the web can be a source that enhance domestic financial prosperity through liberalization of household administrations, quick globalization of creation, and advancement of accessible innovation. The reconciliation of domestic

Internet is changing the way consumers shop and buy goods or services and has rapidly evolved into a global phenomenon. Many companies have started using the Internet with the aim of cutting marketing costs, thereby, reducing the price of their products and services in order to stay ahead in highly competitive markets. Customers use the Internet not only to buy the product online, but also to compare prices, product features and after sale service facilities, Many experts are optimistic about the prospect of online business (Shergill and Chen, 2005).