Electronic commerce or E-commerce is type of commercial activity which is done electronically over the internet or through connected network of computers. The first step of e-commerce began with need for banks to integrate computers systems connected across branches spread in different territories to complete fund transfer, fund deposit and fund withdrawal requests.
Generally there are five type of e-commerce activity done electronically, Consumer to Business (C2B) E-commerce, Business to Business (B 2 B)E-commerce, Business to Consumer (B2C) E-commerce, Consumer to Consumer (C2C) E-commerce, Inter Organisational E-commerce.
Banking sector is using electronic medium for its business operations long before people realised its importance, but at that time no-body thought of doing business online without meeting client or buyer personally. With the incessant internet penetration and the confidence in using the electronic/ online medium for payment transactions grew, big and small companies realised the potential of internet. Nowadays business can be done across the country or across the world, you can purchase anything from anywhere with a just few mouse clicks.
In the beginning people were sceptical in buying or selling products online and were not sure whether the customers will buy product online when they cannot touch the actual product. Many said that it won’t work but websites like Amazon and EBay showed that it can be achieved with better product catalogue, better service and security to shop with them. Today online retail business is worth billions of dollars and it’s just small part of whole e-commerce trade.
In the last five year, e-commerce trade has grown exponentially in India, whether it’s business to business or business to consumer, the growth is quite impressive. In spite of people still prefer doing business the old way, It’s the young population who is more informed and tech savvy who like the idea of buying things online which saves their time and effort also. Now the manufacturer also like the idea of selling their product online as it not only save them from the middle men as they are selling their stuff directly to consumer that too at better prices.
There are many benefit of doing business electronically with potential of reaching every single person in shortest possible time and lesser effort. It is much more secure and fast to do business online then doing the old way. Range of products available is enormous; with just few clicks you can get product and services without leaving your desk. These are the few benefits of e-commerce, though there are some disadvantages. Cyber scams, fraud and misusing of financial information are what been experienced when you are not safely keeping you credentials and password details.
As the reach of internet spread to smaller cities, more consumers and business will join and engage in E-Commerce, which will not only increase the base of customers but the business of those small cities will have opportunity to connect with the whole world.
In current market scenario, business are going online via e-commerce portals. There are several technologies for ecommerce website development like Magento, OpenCart, PrestaShop, osCommerce, Drupal etc. So, you can choose one for your dream ecommerce portal.
Generally there are five type of e-commerce activity done electronically, Consumer to Business (C2B) E-commerce, Business to Business (B 2 B)E-commerce, Business to Consumer (B2C) E-commerce, Consumer to Consumer (C2C) E-commerce, Inter Organisational E-commerce.
Banking sector is using electronic medium for its business operations long before people realised its importance, but at that time no-body thought of doing business online without meeting client or buyer personally. With the incessant internet penetration and the confidence in using the electronic/ online medium for payment transactions grew, big and small companies realised the potential of internet. Nowadays business can be done across the country or across the world, you can purchase anything from anywhere with a just few mouse clicks.
In the beginning people were sceptical in buying or selling products online and were not sure whether the customers will buy product online when they cannot touch the actual product. Many said that it won’t work but websites like Amazon and EBay showed that it can be achieved with better product catalogue, better service and security to shop with them. Today online retail business is worth billions of dollars and it’s just small part of whole e-commerce trade.
In the last five year, e-commerce trade has grown exponentially in India, whether it’s business to business or business to consumer, the growth is quite impressive. In spite of people still prefer doing business the old way, It’s the young population who is more informed and tech savvy who like the idea of buying things online which saves their time and effort also. Now the manufacturer also like the idea of selling their product online as it not only save them from the middle men as they are selling their stuff directly to consumer that too at better prices.
There are many benefit of doing business electronically with potential of reaching every single person in shortest possible time and lesser effort. It is much more secure and fast to do business online then doing the old way. Range of products available is enormous; with just few clicks you can get product and services without leaving your desk. These are the few benefits of e-commerce, though there are some disadvantages. Cyber scams, fraud and misusing of financial information are what been experienced when you are not safely keeping you credentials and password details.
As the reach of internet spread to smaller cities, more consumers and business will join and engage in E-Commerce, which will not only increase the base of customers but the business of those small cities will have opportunity to connect with the whole world.
In current market scenario, business are going online via e-commerce portals. There are several technologies for ecommerce website development like Magento, OpenCart, PrestaShop, osCommerce, Drupal etc. So, you can choose one for your dream ecommerce portal.
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