E-commerce-Trader in products and services
Electronic commerce, also known as E-commerce, is a trader in products or services that make use of the computer networks, such as the Internet.
Electronic commerce draws on the technologies such as electronic funds transfer, supply chain management, mobile commerce, Internet marketing, online transaction processing, electronic data interchange, inventory management systems, and automated data collection systems.
Modern electronic commerce typically makes use of the World Wide Web for at least one part of the transaction’s lifecycle, although, it may also make use of other technologies such as e-mail.
E-commerce businesses usually employ some of the following practices:
Helps in providing Etail or “virtual storefronts” on the websites with online catalogs, sometimes gatheres into a “virtual mall”, helps in buying or selling on websites or online marketplaces, gathering and using demographic data through web contacts and social media, using electronic data interchange, the business-to-business exchange of data, reaching the prospective and establishing customers by E-mail or fax, using business-to-business buying and selling, providing secure business transactions.
Contemporary electronic commerce involves everything starting from ordering “digital” content for immediate online consumption, to ordering of the conventional goods and services, to “meta” services in order to facilitate other types of electronic commerce.
On the institutional level, big corporations and financial institutions make use of the internet to exchange financial data to facilitate domestic and international business.
Data integrity and security are hot and pressing issues for electronic commerce.
E-commerce has grown in importance as companies have adopted pure-click and brick-and-click channel systems. We can distinguish pure-click and brick-and-click channel system adopted by companies.
The distribution channels are as follows:
Pure-click companies are the ones that have launched a website without any previous existence as a firm.
Bricks-and-clicks are the existing companies that have added an online site for e-commerce.
Click-to-brick online retailers are the ones that later open physical locations to supplement their online efforts.