E-Commerce

E-commerce or electronic commerce is the trade of goods or services using the internet or another computer network. This manner of conducting business has grown as internet access has spread. E-commerce has sparked an entirely new mode of marketing, developing, delivering and payment of products. However, the most transaction most commonly associated with e-commerce is the business to consumer sale.

In addition to a new manner of selling and buying, e-commerce can be credited with the development of other products, such as streaming media and electronic books or e-books and readers. Retail services, such as online banking, flower delivery and travel arrangements have changed the face of e-commerce. These have also paved the way for such marketplace services as auctions, trading communities and even mobile commerce.

Some retailers have moved to a purely e-commerce strategy. These retailers are known as e-tailers and are able to conduct business in a global marketplace thanks to the internet and the services and products, such as mobile payment, which e-commerce has helped to create and sustain.

Consumers benefit from such e-commerce benefits as price comparison, greater selection, intermediary services, electronic payment services and round the clock availability. In addition, consumers can pre-order goods which also benefits vendors.

Whether a retailer or an e-tailer, e-commerce provides many benefits for the vendor as well. E-commerce allows vendors to cut costs, by providing tools and information for customers to complete sales, payment and even delivery of digital goods or services independently without the use of a customer service representative.

It does not seem likely that e-commerce will completely replace brick and mortar businesses, but it has virtually secured a strong foothold in the retail marketplace.