Demystifying Electronic Commerce

Introduction

Introduction

It is basically the buying and selling of goods and services through modern electronic systems such as the computer network. Since its inception, this concept has exponentially grown courtesy of the increasing internet penetration. ecommerce is widely used by a number of organizations across the world and it has subsequently spurred innovations in various sectors such as supply chain management, electronic data interchange, internet marketing, electronic funds transfer, inventory management systems and automated data collection systems among others.

Types of online transactions

Most of the transactions are conducted electronically for virtual items such as access to premium contents on web pages. When online buying and selling is conducted between businesses, it is referred to as business-to-business (B2B) which is open to all interested parties or in some circumstances may be limited to a niche group. Online buying and selling may also be conducted between business and consumers where it is referred to as business-to-consumer (B2C). This simply works by an online consumer logging in to his personal computer, visiting an online retail store (Amazon.com, Ebay.com. Buy.com e.t.c), selecting a product, keying in his personal details such as credit card numbers for billing purposes and physical address which will be used for the item delivery, afterwards the consumer selects a delivery method whether courier or normal postal service whereby finally the client confirms payment by counterchecking the card number and physical address waiting for the goods to arrive.

Online shop enabling technology

One key technology that has enhanced online buying and selling is the shopping cart which is basically a software that is usually embedded into electronic stores to assist online shoppers make purchases online by accumulating a list of items for purchase in which the software will automatically calculate the total cost for the order including financial information pertaining to the items shipping and handling costs and other associated taxes if applicable.

Benefits of online commerce

Apart from the numerous benefits that come with an online shopping basket from a consumer perspective, they have also been found to be very effective with the online merchants because they can just be downloaded and installed on a web server with a one time fee and since the merchant will be fully owing the licenses, he can easily modify its source code to customize the software fully so that it fits his electronic store application. The software can also be provided by a hosted service provider by charging a periodic usage fee and hosted solutions also come with predefined templates for users to use in customizing.

by:Eric Lewis

POST COMMENT

Learn More About Kitchen Remodeling Safety Tips Industry Knowledge: The Basic Properties Of Connectors - Connectors, Electronic, Electrical - Waste Minimization For Safety In The Facility Internet Safety Lessons at Virginia Schools Cleaner Oil For Hydraulic Systems Through Electrostatic Technology Safety Features Of The Piper Sport Small Outdoor Lighting Changes That Increase Safety and Add Drama Jobs in Optoelectronics Technology In The Classroom: Digital Tv 100 Q (1) - Digital Television, Technology - Radio And Pool Safety Tips 101 - Tips on How to Secure the Safety of Your Kids Fire Safety and Insurance coverage The Nokia C7 Boasts Both An Integrated Fm Radio And An Integrated Fm Transmitter Employee Health Programs And Safety Software