In general, electronic commerce (EC) or e-commerce is defined as business transactions that are carried out electronically on the Internet, intranet, extranet, world wide web, by e-mail and by fax. These transactions do not have to be priced and include both sales and items such as free downloads. All transactions can be carried out on a global level.
Simply put, e-commerce means buying and selling goods online. It also includes other types of business transaction-related activities. Recent and upcoming branches of e-commerce include mobile commerce, which sells goods through various mobile devices, and Facebook commerce, which provides an audience for business.
E-commerce involves the creation of new value-adding business structures and business relationships between companies, their customers and suppliers.
Examples of e-commerce stores The best examples of e-commerce are: online shopping (e.g. Amazon.com), electronic payments (e.g. PayPal), online auctions (e.g. eBay), online ticketing (e.g. Ecolines) and internet banking (online bank accounts). It can be done in two ways - business-to-business (B2B) transactions between merchants, retailers and manufacturers on both sides, business-to-consumer (B2C) between businesses and consumers, and between consumers (C2C) where both parties involved in transactions create barter deals. The third type of e-commerce transaction can clearly be called auctions.
There are several ways to do business: email exchanges, online catalogs and digital coupons, shopping carts operated using operating system software to enable consumers to purchase goods and services, and to easily track customers by all commercial aspects are grouped together into a coherent whole, file transfer, social media marketing, targeted advertising and other web services.
Brief overview of the e-commerce industry E-commerce helps save time by speeding up the entire sales process, ensuring a greater selection of goods in one place, remaining available around the clock, finding target groups, creating and accepting business offers and also lowering transaction costs. This means that there are no time or distance barriers when using the network. However, it is still not possible to do some important things with this type of business. Consumers as well as retailers and dealers cannot touch the goods right away and experience the interested articles tangibly.
Businesses began using electronic data to exchange their business in the early 1690s. In 1979 the American National Standards Institute developed a universal standard for companies to exchange business data over electronic networks called ASC X12. The entire industry took off in the 1990s with the development of amazon.com and eBay. The past 5 years are considered nutritious for Internet business transactions.
According to the US Department of Commerce, web sales were $ 341.7 billion in 2015. Ecommerce helps keep things simple while having fewer restrictions. It helps boost business, build marketing automation systems, and manage sales and communications with customers and business partners remotely.
Top jurisdictions for starting an e-commerce business Certain jurisdictions have some beneficial advantages for e-commerce businesspeople and international online merchants. England, for example, has a mature investment and banking industry that enables online trading and provides a bridge between the US market and companies looking forward to entering the market. France has its own minister for digital business (Axelle Lemaire) by creating a brand (La French Tech) to promote French startups internationally. Germany and Berlin in particular enjoy a lot of attention from famous tech multinationals such as Google Campus @ Factory. The top 10 e-commerce markets by country also include China (rating 1), USA (rating 2), Japan (rating 4) and South Korea (rating 7). These assessments were made in 2014 and are based on statistical data that reflect the level of total online sales.