Electronic commerce, commonly known as E-commerce or eCommerce, is trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, 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 for at least one part of the transaction's life cycle, although it may also use other technologies such as e-mail, mobile devices, social media, and telephones.
Trading online enables businesses to reach much wider audiences while cutting the costs of traditional retailing methods. For example, an e-tailer does not have to spend so much on an expensive High Street presence.
Although the outlay on developing a good website is substantial the potential benefits can be enormous. One group of businesses that have been particularly successful as a result of the development of the web are specialist suppliers of items such as paintings, photographs, confectionery, and other items. An individual working from home can now advertise and sell their produce worldwide.
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Further Reading Suggestion;
1. The Impact of E-commerce on Developed and Developing Countries Case Study: Egypt and United States
by
Dr. Zeinab Mohamed El Gawady
Lecturer of Economics
2. Impact of e-commerce
by
Abhinna Srivastava
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