eCommerce is a branch of business. Here comes the need for commerce that is concerned with the selling and buying of services and goods.
Commerce is that part of a business which is concerned with the exchange of services and goods and includes all those activities which directly or indirectly facilitate that exchange.
E-Commerce, also known as e-Business, or electronic business, is simply the sale and purchase of services and goods by the electronic medium, like the Internet. By E-commerce data and funds can be electronically transferred between two or more than two parties. Simply mean, it is online shopping as we commonly know about this.
It has become so convenient and easy, that anyone can shop for anything from anywhere by just a few clicks. This has evolved more with the emergence of smartphones, where now, you can shop from anywhere and anytime, with a wireless device connected to the Internet. Now you can search for almost any product or service online, without having to go anywhere physically.
E Commerce websites are online portals that facilitate online transactions of goods and services through means of the transfer of information and funds over the Internet. In the early days, e-Commerce was done through emails and phone calls. Now, with a single website, anything and everything is done by single click we can order of our own choice easily and do payment also easily by online-only not any kind of problem faced by buying good or paying online.
There are different e-Commerce websites for every field. The most common type is retail selling, but there are many others too, like auction websites, business-to-business services, music portals, consultancy websites, finance management websites, and the like.
The importance of trade and commerce is mentioned in the following points: Commerce tries to satisfy growing human wants or needs –There is no end of humans want.They can be classified as Basic wants and Secondary wants'. Commerce has made a distribution from one part or one place of the world to another. Today we may buy anything produced anyplace in the world without facing any kind of problem from at home only. This has, in turn, allowed the man to satisfy his countless wants and thus promoting social welfare. Commerce can help to increase our standard of life and Standard of living refers to the quality of life enjoyed by the members of society.
With the use of mobile devices and laptops increasing every day, there are a lot of advantages of e-commerce like
- Global market reach
- A global choice for consumers
- Short product/service distribution chain
- Lesser costs and pricing
When man consumes more products his standard of living improves. Commerce helps us to get what we are looking at right time, right place and at right price and therefore helps in improving our standard of living. Commerce links producers and consumers - Production is meant for ultimate intake. Consumers get details about different goods and present trends going on through advertisements and salesmanship. E commerce plays an important role by saving time of the customer because with the help of commerce everything is available easily without visiting anywhere.
Ecommerce is a truly revolutionary innovation. But what's it exactly, and what're its own benefits? What's E commerce? E commerce describes using computer networks to sell and buy services and products. Basically it is online transaction. Many individuals find this respect narrow and prefer the term e company rather. . Many individuals find this respect narrow and prefer the term e company rather Some associations can be called pure ecommerce associations, in that all processes are digital.
The products are digital, merchandise delivery is digital, and the sales process is digital. In the other end of the spectrum, most purely physical organizations utilize no digital measurements and are called brick and mortar associations. Several organizations match somewhere in between and might be called partial e commerce organizations. Amazon.com is a decent example of a partial ecommerce organization. This refers to firms like Wal-Mart, whose main activity is done in the real world, but progressively enlarge their e commerce activities. Types of E Commerce Transactions - e commerce transactions can occur between different parties, not only between a company and its retail clients.
Some of the important E-commerce website features are
- Shopping Cart
- Payment gateway
- Quick and accurate search features
- Related products to upsell and increase profits
- Catalog management
- Simple website navigation
- Detailed Product description
- Your USP – why people should buy from you
- Simple checkout function
- Website security
- Delivery and returns information
- Order management
- Shipping and delivery management
- Reviews, Rating management
- Offers, Promotions, coupons management
- User and role management
- SSL integration
- Payment and refunds management
- Location management
Some of the important E-commerce website features are
If you are looking to start and e-Commerce website, there are a few things that you need to understand and keep in mind to become successful in the business. Make no mistake, there are many online shopping websites out there, and the top few are such great brands that they control most of the market share. It should be attractive and the speed of the website should be good so that customers do not face any kind of problem while purchasing goods. Next important factor that also cannot be ignored is responsiveness as it gives good user interface.