Electronic commerce
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Electronic commerce
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Electronic commerce, commonly known as e-commerce
or eCommerce, or e-business consists of the buying and selling of products
or services over electronic systems such as the Internet and other computer
networks. The amount of trade conducted electronically has grown extraordinarily
with widespread Internet usage. The use of commerce is conducted in this
way, spurring and drawing on innovations in electronic funds transfer,
supply chain management, Internet marketing, online transaction processing,
electronic data interchange (EDI), inventory management systems, and automated
data collection systems. Modern electronic commerce typically uses the
World Wide Web at least at some point in the transaction’s lifecycle,
although it can encompass a wider range of technologies such as e-mail
as well.
A large percentage of electronic commerce is conducted
entirely electronically for virtual items such as access to premium content
on a website, but most electronic commerce involves the transportation
of physical items in some way. Online retailers are sometimes known as
e-tailers and online retail is sometimes known as e-tail. Almost all big
retailers have electronic commerce presence on the World Wide Web.
Electronic commerce that is conducted between businesses
is referred to as business-to-business or B2B. B2B can be open to all
interested parties (e.g. commodity exchange) or limited to specific, pre-qualified
participants (private electronic market). Electronic commerce that is
conducted between businesses and consumers, on the other hand, is referred
to as business-to-consumer or B2C. This is the type of electronic commerce
conducted by companies such as Amazon.com. Online shopping is a form of
electronic commerce where the buyer is directly online to the seller’s
computer usually via the internet. There is no intermediary service. The
sale and purchase transaction is completed electronically and interactively
in real-time such as Amazon.com for new books. If an intermediary is present,
then the sale and purchase transaction is called electronic commerce such
as eBay.com.
Electronic commerce is generally considered to
be the sales aspect of e-business. It also consists of the exchange of
data to facilitate the financing and payment aspects of the business transactions.
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