What is E Commerce? Definition and Meaning of E-Commerce
Do you wish to start a business where you will be able to sell your products online? If your answer is yes then you’ll be amongst the millions of other entrepreneurs who have already created a niche in the world of E-Commerce.
Electronic Commerce or E-Commerce as it is referred to in short is a term that is used for any sort of a business that involves the transfer of information across the Internet. There are lots of different types of businesses involved in it that range from the consumer based retail sites as well as that of the auction or music sites. This is why it is amongst the most important aspects of the Internet to emerge.
With the help of E-Commerce, the consumers will be able to conduct an electronic exchange of goods and services without any barriers of distance or time. For quite some time, E-Commerce has expanded rapidly. It will continue to continue to expand at this rate.
B2B or Business to Business is the electronic commerce between businesses instead of between a business and a consumer. It often deals with hundreds or even thousands of other businesses, either as customers or suppliers. When the business is carried out in this way, it is able to offer many competitive advantages when compared with the traditional methods. If it is properly implemented, E-Commerce is cheaper, faster and more convenient when compared with the traditional methods of bartering services and goods.
The benefits of E-Commerce include it’s the speed of access, round-the-clock availability, accessibility, a wider selection of goods and services, and international reach. Its downsides are not being able to see or touch a product prior to purchase, limited customer service as well as the necessitated wait time for product shipping.
It is in the form of Electronic Data Interchange or EDI that the electronic transactions have been around for quite some time. EDI requires each customer as well as a supplier to set up a dedicated data link whereas e-commerce provides a cost-effective method for companies to set up multiple, ad-hoc links.
E-commerce is indeed a very rewarding venture, it will, however,; not be possible for you to make money overnight. You will have to make business decisions on facts learned from researching eCommerce, undertake a lot of research, work hard and also ask a lot of questions.. We hope that this online tutorial on e-commerce has helped your business to make a better decision so that you are easily able to select your online shopping cart for your e-commerce store.