E-commerce or Electronic Commerce has become a part of our everyday lives. The growth of World Wide Web is growing, more and more each day. Businesses practically live on the web. E-commerce growth has provided consumers with many different retail choices making the lives easier for the online community. Although, this makes things easier for consumers who shop online, most of these companies have chosen
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.
E-business uses the digital technology to optimize the business activities of organization in order to increase the efficiency and effectiveness of operation and gain competitive advantages. E-business provides the solution that allows the organization to instantly share database, information of products and services, financial figures and data and nearly anything else that the organization may need to operate the business activities effectively and efficiently (Nguyen, 2013). E-commerce which is the abbreviation of electronic commerce is the subset of e-business. It focuses on the online transaction which includes selling of products or service by using computer network, primarily the Internet.
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
The e-commerce market was worth 1.471 trillion dollars worldwide in 2014 and in forecasted to increase by 20% in 2015 (Emarketer.com, 2015). Further, United Kingdom is rated No. 1 for online retail in the world and there is significant increase in demand every year (Ubmfuturecities.com, 2015) (See
So in this paper we will discuss online retail and e-commerce as a whole. We will look at it’s history and current impact. Then we will make some predictions
E-commerce is the capability of an organisation for having dynamic presence over Internet that allows the company for conducting their business electronically, in spirit of having an electronic shop. Thus, the products can be sold, paid and advertised electronically without the requirement to be processed with the help of human being. Because of massiveness of internet advertising and website can be un-covered to millions of people all around the globe with the information being able to be transformed almost promptly the site can always be kept updated with all latest products for matching with the demand of the consumers (Lee, 2005).
In 21st century, the power of internet contributes to the humanity that makes the world more interconnected as well as influences us daily bases that changes the way of living in most convenience. The latest trending big thing in our society is the online shopping, which is the most easy way to buy stuff without physically go to store to purchase. This magical advancement help us to buy products that we want within short amount of time as well as enable to access to thousands of stores. In the proper business term, this form of business called e-commerce. Today, there are
The trend toward shopping using the Internet is growing faster than expected (Cramer, 2014). Since Internet has become popular medium for people to shop, more companies then launched online shopping platform. With this new platform, they were able to do sales directly to their customer.
Nowadays, online shopping has become one of the most convenient and popular ways to sell and buy products. Especially for Millenniums, online shopping is the most efficient and fast way to consume. Also, some of them are not only customers, but also become one of the sellers because of the e-commerce platform. Under the e-commerce
Today, more than ever before, technology and businesses go hand in hand as the population relies on having access to online shopping and online socializing. For consumers it is efficient and convenient to be able to do their shopping with the click of a button in the comfort of their houses. Therefore, improving e-commerce sales
Organizations conduct transaction on a global scale, and they must adapt to the advances in technology to compete and succeed. E-commerce will provide a platform to promote growth and
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. 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
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