Welcome To: Course Title: E-Commerce
Welcome To: Course Title: E-Commerce
Faculty Member
Hajvery University (HU)
What is E-Commerce?
E-commerce is the buying and selling of good or services via the
internet, and the transfer of money and data to complete the
sales. It’s also known as electronic commerce or internet
commerce.
Or
E-commerce (electronic commerce) 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 (B2B),
business-to-consumer (B2C), 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 the transactional processes that make up
online retail shopping.
Or
Ecommerce, or electronic commerce, refers to transactions
conducted via the internet. Every time individuals and
companies are buying or selling products and services online
they’re engaging in ecommerce. The term ecommerce also
encompasses other activities including online auctions, internet
banking, payment gateways, and online ticketing.
How ecommerce came to be?
The first ecommerce transaction was made in 1994. A guy named
Phil Brandenberger used his Mastercard to buy Sting’s Ten
Summoners’ Tales via the internet for $12.48. This particular
transaction made history and signaled to the world that the
“internet is open” for ecommerce transactions. Why? Because it
was the first time that encryption technology was used to enable
an internet purchase.
Needless to say, ecommerce has grown by leaps and bounds ever
since.
The rise of ecommerce giants like Amazon and Alibaba in the mi
d -1990s
changed the face of the retail industry. They largely capitalized
on the global internet penetration and digitalization of the
financial system which contributed to the decline in sales for
many brick-and-mortar businesses.
The growth of ecommerce has also shifted the retail workforce.
The U.S Bureau of Labour Statistics (BLS) has revealed that
from 1997 to 2016, employment in the ecommerce sector
increased by 80%. BLS is also predicting that the number of
ecommerce jobs will keep on growing and reach 450,000 in the
US by 2026.
Types of E-Commerce