The Tremendous Growth Of E Commerce During The Last Century Could Baffle Some Economist

The Internet over the past few years has seen a huge increase in online businesses and consumers. Electronic-commerce is expected to generate $36 billion in revenue during 1999, up 140% from last year alone.[1] With such a huge amount of money to be made on the Internet it is becoming very appealing for small businesses and start-up companies to try and make their niche in e-commerce. The Internet is drastically affecting the way companies and people conduct business now. E-commerce encourages growth in existing as well as new businesses because of lower overhead costs, the huge consumer base and the freedom of information flow. However the online revolution has created a large

The prospective buyers may end up paying more than how much it would have cost if they had been given the proper information. Equal knowledge and opportunity transactions tend to not take place because of this. The one with the most power of knowledge will reap the greater benefits. To offset this asymmetry, I think that sellers and especially buyers should utilize technology to look up any questions they may have prior to making a transaction. This way, they will come prepared and be able to thwart any unnecessary

In today’s world of business, everything is computerized and most of the companies use the Internet and information business to help keep their quality, save time and also cost. It also can reach out to more customers worldwide. For an example, with a website in the internet, it would relay the message to millions of viewers worldwide regarding the product and service that the particular company can provide and indirectly saves cost in advertising in television and print advertisments.

The population of the Internet and World Wide Web has raised fast since 1990s with the development and advancement of computer technologies. Many firms have launched their business through the Internet because of this technology innovation. This resulted in various and widely sales of products in the Internet business. Online buying grows at an amazing rate. Therefore, companies that carry out Internet based business have great opportunities to succeed. Conversely, there is a greater competition and threats are all around considering that many companies had entered the online business (cited in University of Texas at Dallas.com n.d.).

Electronic commerce (e-commerce) over the Internet is the fastest growing method for consumers to conduct business. Less than ten years old and it already has radically altered the potential to economic activities and the social environment. There are nearly 200 million Internet users worldwide currently. Of these 200 million users, roughly 40 percent reside in the United States (Styliano, A., Robbins, S. & Jackson, P., 2003). E-commerce currently affects large sectors such as communications, banking and the retail industry. E-commerce has also had an effect on the education, health and government (Wyckoff, A., & Colecchia A., 1999). It is predicted that commerce on the Internet could total tens of billions of dollars by the turn of the

The internet’s debut in 1988 which had revolutionized commercial transactions all around the globe had grown exponentially over the past decade. In fact, the world internet users and population statistics by the Miniwatts Marketing Group (2009) showed that 23.5% of the world’s population are internet users and that the growth of internet users from 2000-2008 is 336.1 %. This rapid increase in internet users paved the way for the development of electronic commerce or E-commerce. E-commerce, the exchange of information, goods or services online, had also gained popularity over time as more and more people discover the expediency of online transactions. However, the internet, which is a huge storage room of information, poses

E-commerce has been considered to be a primary element to change the global economy and the method which business is conducted. (Shin, 2001) It impels enterprises to search for new sources and new measures to expand the markets for growing profits. With its flexibility to the changing trends, E-commerce allows business to have instant response to this continuous change.

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.

B2B e-commerce enterprises are currently larger, and expected to grow more rapidly than B2C enterprises (Malmberg, 2003).

In today 's economy, organisations try to gain strategic and operational advantages over other competitors in their industry because of the rapid advance of technology and globalisation. Companies can have great opportunities to sell their products to new customers, to buy cheap raw materials from new suppliers and to have new business partners in other countries via internet. Therefore, many organisations have introduced E-business as

E-business is the largest emerging trend in business today. The movement into e-business is dramatically changing the way people buy and sell. Business is no longer a one for all concept, that concept is being replaced by a consumer economy that is driven by choice. These choices are not only in product and price but in shopping environment as well, where their transactions can take place face to face or in an online environment. Not only are traditional businesses completing their transactions with other businesses in such an online format, but such transactions are taking place between businesses and consumers as well as consumers to consumers. The following paper outlines some of the differences and similarities of each of

The internet has truly revolutionized the way business is done. Marketing using this medium means businesses can reach a wider and even global audience without having to spend as much. It is these advantages that lure more businesses to conduct internet marketing strategies. In fact, it is an important component in a company’s overall business model.

In 1969, Internet began life in the US and mainly used by government and its departments, researchers and scientists. In 1990s, the World Wide Web came into existence and that is when e-commerce was coined. From then until today, e-commerce has seen both success as well as failures (Turban, King, McKay, Marshall, & Viehland, 2008). The failure was mainly because the e-commerce field was going through consolidations and organizations were trying different models and structures (Turban, King, McKay, Marshall, & Viehland, 2008). The other reason was giants like Amazon were working on expanding their operations and generating increased sales. However, the future looks bright for e-commerce and the usefulness is starting to materialize. As e-commerce expands, these benefits will increase significantly. E-Commerce offers benefits to business organizations, individuals and the society (Turban, King, McKay, Marshall, & Viehland, 2008).

In today’s world there is a widespread trend of global expansion, the borders between markets have become more and more diffused. The number of firms expanding abroad is increasing and internationalization has become a necessity, not only to further a firm’s growth, but also to better handle international competition in its home market.

The Internet has given another market place to the purchasing and selling of goods and services. Consumers have been slow to channel web based business by means of the Internet because of concerns