eCommerce (electronic commerce) is the latest trend. eCommerce is the usage of the internet to buy and sell products and services around the world. It is fast and convenient.
Some technologies used in electronic commerce are electronic fund transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems. The World Wide Web plays a very crucial role in modern eCommerce transactions. It also includes a wider range of services like e-mail, mobile devices, social media and telephones.
Electronic Commerce is usually used on the sales end of e-business. It facilitates the financing and payment in business transactions by handling data exchange.
eCommerce is broadly categorized into:
E-tailing or ‘virtual stores’: these are online stores with web-based catalogs and are often referred to as ‘virtual malls.’
Using web contacts and social networking sites to gathering demographic data.
Electronic Data Interchange (EDI): it is a business to business exchange of data.
Business to business buying and selling.
Safe and secure business transactions.
Some applications of electronic commerce are as follows:
Automation of data documentation in supply chain and logistics.
Payment systems at domestic and international level.
Enterprise content management.
Automated online assistants
Online shopping and order tracking
Online office suites
Shopping cart software
E-commerce has gained prominence over time. The companies that use e-commerce have adopted pure-click and brick and click channel systems. We have the expertise to differentiate between the different channel systems adopted by companies.
Pure-click companies are fresh entrants into the market and they generally have no previous existence as a firm. Such new companies have to be very careful and diligent in setting up and operating their e-commerce websites. Customer experience is the most important aspect of business.
Brick and click companies, on the other hand, are those who are adding to their existing online site for e-commerce. In the beginning, Brick and Click companies were unsure on whether or not to add an online e-commerce channel because they believed they may lose their offline customers or create conflicts with their offline retailers or agents. After much deliberation and recognizing that online services generate a wider reach and bring in more customers, they eventually added the internet to their distribution chain.