Products or services those which bought or sold over electronic systems such as internet or other computer networks is commonly known as electronic commerce or e commerce. It can include the process of developing, marketing, selling delivering, servicing and paying for products and services and all which is online.
The use of commerce is 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. 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.
Sometimes these transactions include the real-time transfer of funds from buyer to seller and sometimes this is handled manually through an EFT - POS terminal once a secure order is received by the merchant.
Internet sales are increasing rapidly as consumers take advantage of lower prices offer by wholesalers retailing their products. This trend is set to strengthen as web sites address consumer security and privacy concerns.
E-commerce can provide the following benefits over non-electronic commerce:
The benefits of e commerce are as follows:
Time is much reduced as it takes only shorter lead time for payment and also issues faster delivery of products.
It has the ability to handle complex situations, different products and customer profiles without putting the situation into a tough one.
Improve relationships with trading partners. Improved communication between trading partners leads to enhanced long-term relationships
Lock in Customers The closer to the customer and the more work with them in order to change from normal business practices to best practice e-commerce the harder it is for a competitor to upset customer relationship.
New Markets The Internet has the potential to expand business into wider geographical locations.
The use of commerce is 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. 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.
Sometimes these transactions include the real-time transfer of funds from buyer to seller and sometimes this is handled manually through an EFT - POS terminal once a secure order is received by the merchant.
Internet sales are increasing rapidly as consumers take advantage of lower prices offer by wholesalers retailing their products. This trend is set to strengthen as web sites address consumer security and privacy concerns.
E-commerce can provide the following benefits over non-electronic commerce:
The benefits of e commerce are as follows:
Time is much reduced as it takes only shorter lead time for payment and also issues faster delivery of products.
It has the ability to handle complex situations, different products and customer profiles without putting the situation into a tough one.
Improve relationships with trading partners. Improved communication between trading partners leads to enhanced long-term relationships
Lock in Customers The closer to the customer and the more work with them in order to change from normal business practices to best practice e-commerce the harder it is for a competitor to upset customer relationship.
New Markets The Internet has the potential to expand business into wider geographical locations.
About the Author:
Laurel is a SEO expert and ensures to deliver a top ranking for your website. She has written many books and articles on Internet Marketing Strategies. If you're interested in Laurel's SEO expertise or you would like to find out more on how her team works for Internet Marketing Strategy , visit her website Internet Marketing Strategy
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