E- Commerce The Future

What is e-Commerce • Electronic commerce, commonly known as e-commerce or e-

Commerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks

• Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance.

• Electronic commerce has expanded rapidly over the past five years and is predicted to continue at this rate, or even accelerate.

Why e-Commerce

• E-Commerce makes it easy for customers to pay, which means you get paid faster

• Make It Easy for Your Customers People have come to expect the ease and efficiency of being able to pay online.

• Just by the click of a button and they are done.• Businesses that use E-Commerce have a higher

average transaction amount than those not that means higher profits.

• offering online transactions.

Features of e-Commerce

• Breaks geographical barrier• Saves precious time • Ubiquity• Customers are truly king in the e commerce

world• Power of accessibility• Cuts supply chain• Technology can equally be barrier

Types of e-Commerce The two most common participants in ecommerce are businessesand consumers.

B2B EcommerceB2C EcommerceC2B EcommerceC2C Ecommerce

Types of e-Commerce

• B2B (Business-to-Business)Companies doing business with each other such as manufacturers selling to distributors and wholesalers selling to retailers. Pricing is based on quantity of order and is often negotiable.

• B2C (Business-to-Consumer)Businesses selling to the general public typically through catalogs utilizing shopping cart software. By dollar volume, B2B takes the prize, however B2C is really what the average Joe has in mind with regards to ecommerce as a whole.

Types of e-Commerce

• C2B (Consumer-to-Business)A consumer posts his project with a set budget online and within hours companies review the consumer's requirements and bid on the project. The consumer reviews the bids and selects the company that will complete the project

• C2C (Consumer-to-Consumer)There are many sites offering free classifieds, auctions, and forums where individuals can buy and sell thanks to online payment systems like PayPal where people can send and receive money online with ease

Pros Of e-Commerce• Gain New Customers With Search Engine Visibility: as internet

is spread world wide it has become easy for small businesses to gain worldwide visibility

• Lower Costs : as there is less need to acquire physical space as shop the investment is reduced to certain extent

• Eliminate Travel Time and Cost: here comes the convenience of the customers they can easy chose from wide range of goods available online .

• Provide Comparison Shopping : there is a huge variety of goods to compare the goods online on basis of price as well as quality

• No Need to Handle Currency Notes : best thing about is that there is no need to spend cash transaction can be done in various ways such as debit card, credit card,net banking etc

Cons Of e-Commerce • Lack of Personal Touch: I miss the personal touch and

relationship that develops with a retail store. In comparison, ecommerce is far more sterile.

• Security Issues : Although all the big e commerce sites are providing great securities still hackers always find there way through

• Delay in Receiving Goods : the actual receiving of goods can differ as it could take long time to actually receive goods

• Multiplicity of Regulations and Taxation: Regulators are still not clear about the tax implications of ecommerce transactions.

• Expense and Expertise Needed for Ecommerce Infrastructure: Substantial information infrastructure is required to run an effective ecommerce website.

e-Commerce in various sectors

• Retailing• Servicing• Publishing• Supply chain management

Global retail e commerce index

e-Commerce Growth In Developed & Developing countries

2014 e-Commerce Predictions

• eCommerce Becomes More Engaging• Seamless Cross Channel and Mobile

Integration• Personalizing the eCommerce Experience• More retailers to offer click and collect

services• Faster delivery times

Source

• http://econintersect.com/b2evolution/blog1.php/2013/06/28/global-e-commerce-sales-to-reach-1-2-trillion-this-year

• http://www.atkearney.com/consumer-products-retail/e-commerce-index

• http://www.digitsmith.com/ecommerce-definition.html