What is the shortest explanation of ecommerce?
How would you answer most shortly a meaningfull defenition of the term ecommerce to describe what it means?
- d_r_sivaLv 71 decade agoFavorite Answer
Investment Dictionary: Electronic Commerce - eCommerce
A type of business model, or segment of a larger business model, that enables a firm or individual to conduct business over an electronic network, typically the internet. Electronic commerce operates in all four of the major market segments: business to business, business to consumer, consumer to consumer and consumer to business.
Financial & Investment Dictionary: Electronic Commerce
Buying and selling on the Internet. Also called e-commerce, it has three subcategories: business-to-business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C).
Marketing Dictionary: e-commerce
Business transactions conducted via electronic means; most often referring to Internet-based relationships between customers and vendors, but also including CD-ROM catalogs; also called internet marketing. The Internet, direct marketing's newest channel, has provided an unprecedented opportunity on a global basis for businesses to interact with, reach out to, and be accessible by their customers without limitations with respect to physical location or time zone.
Accounting Dictionary: Electronic Commerce (EC)
The buying and selling of goods and services on the Internet, especially the World Wide Web. In practice, this term and a new term, "e-business," are often used interchangeably. For on-line retail selling, the term e-tailing is sometimes used. It is also called e-commerce for short, on-line commerce, Internet commerce, e-business, or Cyberspace commerce.
Business Encyclopedia: Electronic Commerce
"No single force embodies our electronic transformation more than the evolving medium known as the Internet. Internet technology is having a profound effect on the global trade in services," according to a White House paper in 1997. Electronic commerce is estimated to have been in the range of $63 billion in 1999 and is expected to soar to $1,444 trillion by 2003 (For rester Research, 1999). Electronic commerce is a broad term describing business activities with as sociated technical data that are conducted electronically.
Britannica Concise Encyclopedia: e-commerce
business-to-consumer and business-to-business commerce conducted by way of the Internet or other electronic networks. E-commerce originated in a standard for the exchange of documents during the 1948 – 49 Berlin blockade and airlift. Various industries elaborated upon the system until the first general standard was published in 1975. The electronic data interchange (EDI) standard is unambiguous, independent of any particular machine, and flexible enough to handle most simple electronic transactions.
Columbia Encyclopedia: e-commerce,
commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. A customer can order items from a vendor's Web site, paying with a credit card (the customer enters account information via the computer) or with a previously established “cybercash” account. The transaction information is transmitted (usually by modem) to a financial institution for payment clearance and to the vendor for order fulfillment. Personal and account information is kept confidential through the use of “secured transactions” that use encryption technology
- Anonymous4 years ago
E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are often used interchangeably. The term e-tail is also sometimes used in reference to transactional processes for online shopping.
History of e-commerce
The beginnings of e-commerce can be traced to the 1960s, when businesses started using Electronic Data Interchange (EDI) to share business documents with other companies. In 1979, the American National Standards Institute developed ASC X12 as a universal standard for businesses to share documents through electronic networks. After the number of individual users sharing electronic documents with each other grew in the 1980s, in the 1990s the rise of eBay and Amazon revolutionized the e-commerce industry. Consumers can now purchase endless amounts of items online, both from typical brick and mortar stores with e-commerce capabilities and one another.
E-commerce is conducted using a variety of applications, such as email, online catalogs and shopping carts, EDI, File Transfer Protocol, and web services. This includes business-to-business activities and outreach such as using email for unsolicited ads (usually viewed as spam) to consumers and other business prospects, as well as to send out e-newsletters to subscribers. More companies now try to entice consumers directly online, using tools such as digital coupons, social media marketing and targeted advertisements.
The benefits of e-commerce include its around-the-clock availability, the speed of access, the wide availability of goods and services for the consumer, easy accessibility, and international reach. Its perceived downsides include sometimes-limited customer service, consumers not being able to see or touch a product prior to purchase, and the necessitated wait time for product shipping.
The e-commerce market continues to grow: Online sales accounted for more than a third of total U.S. retail sales growth in 2015, according to data from the U.S. Commerce Department. Web sales totaled $341.7 billion in 2015, a 14.6% increase over 2014. E-commerce conducted using mobile devices and social media is on the rise as well: Internet Retailer reported that mobile accounted for 30% of all U.S. e-commerce activities in 2015. And according to Invesp, 5% of all online spending was via social commerce in 2015, with Facebook, Pinterest and Twitter providing the most referrals.
The rise of e-commerce forces IT personnel to move beyond infrastructure design and maintenance and consider numerous customer-facing aspects such as consumer data privacy and security. When developing IT systems and applications to accommodate e-commerce activities, data governance related regulatory compliance mandates, personally identifiable information privacy rules and information protection protocols must be considered.Source(s): http://prosland.com/