SHOPPING FIESTA

The World Of E-Commerce

“It consists of buying and selling goods and services over an electronic system such as the internet and other computer networks.”

dictionary.com

“E-Commerce is the purchasing, selling and exchanging goods and services over computer networks (internet) through which transaction or terms of sale are performed electronically.”

Thesaurus.com
The world of E-Commerce is trending in the modern world.

Types Of E-Commerce

  • Business-To-Business (B2B)
  • Business-To-Consumer (B2C)
  • Business-To-Employee (B2E)
  • Consumer-To-Consumer (C2C)
  • Business-To-Government (B2G)
  • Government-To-Business (G2B)

Pros And Cons Of E-Commerce

Advantages

For Business Organizations :-

  • Low Entry Cost
  • Reduces Transaction Costs
  • Access to the Global Market
  • Secure Market Share

For Consumers :-

  • No checkout queues
  • Reduce prices
  • You can shop anywhere in the world
  • Easy access 24 hours a day
  • Wide selection to cater for all consumers

Disadvantages

  • Unable to examine products personally
  • Not everyone is connected to the Internet
  • There is the possibility of credit card number theft
  • On average only 1/9th of stock is available on the net

The Process Of E-Commerce

10 Fascinating Facts About E-Commerce :-

  1. E-commerce was actually started in 1979 by Michael Aldrich.
  2. Amazon was launched in 1995.
  3. As of third quarter in 2012, $4,423 in transactions occured through paypal per second.
  4. Groupon turned down a deal from Google for $6 billion in 2010.
  5. 47% of shoppers say that Facebook has the greatest impact on what they buy.
  6. More than 80 percent of the online population has used the internet to purchase goods and services.
  7. The highest growing country for e-commerce is India followed by Saudi Arabia, Indonesia, Australia and the Philippines.
  8. Most online shoppers use bank transfers or credit cards to pay.
  9. Online shoppers in the 31 to 44 and 55 to 65 age groups spend the most money shopping online at 68%.
  10. Pizza Hut was the first pizza chain to offer online ordering in 1994.

Future Of E-Commerce In India

According to business world estimate near about Sixty thousand new jobs will be created for the internet world alone in the next two years.

E-Commerce transactions are expected to cross the Rs.3500 crore milestone in2010-11, a jump of around 350% from the 2008-09 figure of Rs.1000 crore.

eBay said that consumers were trading goods worth almost three crore rupees everyday, across the globe.

If you liked my blog, then check out these videos for more information on E-commerce :-

Thanks for joining me!

Good company in a journey makes the way seem shorter. — Izaak Walton

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