The Impact And Future Of E-Commerce And Its Impact On Business

This study will prove that e-commerce has grown because it adds value to people’s lives. It will show that e-commerce will not disappear but evolve into something even greater than what it is right now.

Many organizations industriously look for the opportunity to gain the competitive advantages in their industries. One of the opportunities that frequently used by the organization is the implementation of e-commerce. Thus, the e-commerce and the online sale transaction become popular in each industry. E-commerce provides many benefits, such as the saving of shopping time, the cost savings, convenience, and free from geographical constraints.

As described by Reynolds, E-commerce takes several forms, including business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), and e-government (e-gov). It’s any type of organization, or that includes 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 (Reynolds, 2016). While there are multiple factors of e-commerce operation for retail interacting with its customers the three primary benefits are effective customer service, convenience, easy and timely efficient orders.

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.

In recent years, e-Commerce has had a profound and irreversible impact upon many industry sectors. We’ve seen the likes of Amazon and Netflix emerge and eliminate their established competitors. This disruptive market force is now beginning to re-shape the Grocery Retail landscape, and rapid change is well underway.

The convergence of the Internet and emerging technologies has drastically changed the way companies do business. Most companies are looking for a way to understand the mission-critical challenges they are facing as a result of the e-business revolution. In its simplest terms, e-business (electronic business) takes key business processes and transforms the way a company does business by making efficient and cost-effective use of the Internet. Often companies redefine and reengineer their operations, their resources, core business skills and investment in technology to effectively reach the expanding global marketplace.

E-commerce is characterized as trade that is executed electronically, as over the web. The vast majority consider E-commerce as purchasing things on the web. In all actuality, it is significantly more than that. It incorporate buys from such places as Amazon or Borders for you books, to a variety of donning merchandise stores for your open-air exercises. It additionally incorporates administrations, for example, managing an account. There is business-to-consumer (B2C) exchanges that a large portion of us utilize today. Another structure is consumer-to-consumer (C2C), which incorporated the well-known closeout locales. There is additionally business-to-business (B2B) trade done on the web. They are all types of E-commerce.

E- Commerce is a phenomena that is emerging rapidly between businesses all over the world, and it has affected the businesses at all sizes in many aspects.

E-commerce brings changes in the distribution system, having more flexibility on products transaction and transaction between businesses, suppliers and customers. Online businesses cover the gap between the costumers and the distribution centres.

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

“In e-Commerce, your prices have to be better because the consumer has to take a leap of faith in your product.” These were the words uttered by actor, producer, and investor, Ashton Kutcher. It is clear that what Ashton is saying is 100% factual, as it is essential to give customers the best shopping experience by providing with a well-rounded and most efficient website. However, in my paper I will be defining e-Commerce, discussing the types of e-commerce, an evolution of e-commerce and the impact it has on today’s economy.

The authors state that the Internet has become a necessary part of people’s lives, and it also enables the fast development of E-commerce. E-commerce shows its importance in enhancing business performance and providing better services to customers. E-commerce is also making steady progresses with more people are involving the online business environment. This research is focused mainly on the B2C segment of E-commerce.

* The Internet continues to change every aspects of our life, and changes the way to understand ecommerce from a broad perspective, to learn the basics of underlying consumers make their purchase decisions. It is essential for organizations, large or small, technology, to assess the impact of the technology on business processes, to foresee how the Internet may shape the course of the future in our everyday life and business

Regular retail stores are almost becoming obsolete today because so many customers are shopping online. Stores that have been apart of our lives for years shutting down operations, some for good and others are only conducting business on the internet. Whatever the case may be more and more people are turning to the internet to fulfill their needs. E-commerce is a multi-billion dollar industry now, when at first some thought it would fade away like most technology when it first started. Consumers are not the only people who do business online either. Big companies use the internet to do business with other companies; this is called business-to-business transactions

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),