Electronic commerce, commonly known as e-commerce, consists of the selling of products over electronic systems such as the Internet and other computer networks. It also includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifecycle, although it can encompass a wider range of technologies such as e-mail, mobile devices and telephones as well. A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items in some way. Almost all big retailers have electronic commerce presence on the World Wide Web.
Advantages of E-Commerce
The invention of faster internet connectivity and powerful online tools has resulted in a new commerce arena. E-Commerce offered many advantages to companies and customers.
- Faster buying/selling procedure, as well as easy to find products.
- Buying/selling 24/7.
- More reach to customers, there is no theoretical geographic limitations.
- Low operational costs and better quality of services.
- No need of physical company set-ups.
- Easy to start and manage a business.
- Customers can easily select products from different providers without moving around physically.
- Custom theme.
- One License. Multiple Stores.
- Flexible Product Catalog.
- Custom Landing Pages.
- Mobile Commerce.
- Third-Party Applications and Extensions.
- Custom Development.
- Global Commerce.