What is eCommerce?
Nowadays, the new generation is fast-moving with dynamic technology; as a result of this, eCommerce became an essential part of the business world. Therefore knowing eCommerce becomes a necessary thing in the new era. Accordingly, E-Commerce can define as selling and buying products electronically. Furthermore, it is all about doing commercial transactions via the internet. Besides that, eCommerce can describe as business transaction facilitated by the internet. Consequently, eCommerce, also known as electronic commerce or internet commerce. Currently, eBay, Amazon, could undoubtedly take as some of the real-world examples. In particular, this eCommerce culture indeed helps peoples to sell their belonging for little extra cash very easily.
History of eCommerce.
Even though the word “E-Commerce” is entitled to less history, in that, the process has a long history. Moreover, the first eCommerce transaction was done by Phil Brandenberger of Philadelphia in 1994. Identically Phil Brandenberger used his computer to purchase Sting’s “Ten Summoners’ Tales.” It was the first stage of e-Commerce , used encode technology. However, the history of eCommerce is chaotic; hence some documents mentioned that eCommerce arose with the Electronic Data Interchange (EDI) in 1960.
Things to consideration.
Obviously, Electronic commerce included technologies such as online fund transfers, mobile marketing, electronic data interchanges, supply chain management, online advertising, and promotion. In particular, eCommerce facilitated in primary four segments, namely customer to customer, business to customer, business to business, and customer to business.
Similarly, the essential things to engage with the E-Commerce are devices that can access the internet, payment methods (credit card, debit card). Also, specifically, users can take the support of computers, laptops, tablets, smartphones, and all other devices which are having the ability to access the internet. On the whole, without wasting time to travel and search for things, obviously, the eCommerce felicitates most convince purchasing way to customers.
Role of eCommerce
Specifically, in the business world, E-Commerce has the power to attract and retain customers than a physical market place that cannot facilitate cheaper and extensive distribution channels. With this intention, using e-Commerce, suppliers can provide more product ranges for customers for an affordable cost. Another simultaneous inborn characteristic of e-Commerce is the limited customer service, which encourages self-service. Other than that,eCommerce support business to expand market place which cannot physically grab. This great opportunity not only for people in the industry but also for entrepreneurs hence no need for the physical space to do business. In the meantime, companies can use minimum effort to capture the marketplace and to compete with their competitors.
Furthermore, for the customers, significantly, it is more convincing to engage with e-Commerce than the conservative system. Also, eCommerce save time, money, and give more chance to search for better result within less time. Similarly, customers no need to think gravely about shopping.
In contrast, some of the demerits in e-commerce are the inability to touch the product, and this may lead to the purchase of poor quality products. Conversely, lack of after-sales support and dynamic business environment indeed can identify as disadvantages of E-Commerce. Besides that, the startup cost of the company in e-Commerce is high. And people who are engaging with it should know about the technology. Similarly, in many product and brand, the impersonal relationship is essential still in eCommerce, the impersonal relationship is lacking.
Albeit with the dynamic business environment, emerging trends are incorporate with E-Commerce, which leads to the sustainable growth of e-commerce. Since niche markets are arising rapidly, e-Commerce is an excellent opportunity for suppliers and customers to capture niche opportunities. Most importantly, emerging eCommerce trends facilitate both suppliers and buyers to do their transactions very smoothly.