World of E-Commerce

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World of E-Commerce
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INTRODUCTION
E-commerce (electronic commerce or EC) 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,
business-to-consumer, 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 transactional processes for online shopping.
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History of e-commerce
The beginnings of e-commerce can be traced to the
1960s, when businesses started using Electronic
Data Interchange (EDI) to share business
documents with other companies. In 1979, the
American National Standards Institute developed
ASC X12 as a universal standard for businesses to
share documents through electronic networks.
After the number of individual users sharing
electronic documents with each other grew in the
1980s, in the 1990s the rise of eBay and Amazon
revolutionized the e-commerce industry. Consumers
can now purchase endless amounts of items online,
both from typical brick and mortar stores with
e-commerce capabilities and one another.
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E-commerce applications
E-commerce is conducted using a variety of
applications, such as email, online catalogs and
shopping carts, EDI, File Transfer Protocol, and
web services. This includes business-to-business
activities and outreach such as using email for
unsolicited ads (usually viewed as spam) to
consumers and other business prospects, as well
as to send out e-newsletters to subscribers. More
companies now try to entice consumers directly
online, using tools such as digital
coupons, social media marketing and targeted
advertisements.
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The benefits of e-commerce include its
around-the-clock availability, the speed of
access, the wide availability of goods and
services for the consumer, easy accessibility,
and international reach. Its perceived downsides
include sometimes-limited customer service,
consumers not being able to see or touch a
product prior to purchase, and the necessitated
wait time for product shipping. The e-commerce
market continues to grow Online sales accounted
for more than a third of total U.S. retail sales
growth in 2015, according to data from the U.S.
Commerce Department. Web sales totaled 341.7
billion in 2015, a 14.6 increase over 2014.
E-commerce conducted using mobile devices and
social media is on the rise as well Internet
Retailer reported that mobile accounted for 30
of all U.S. e-commerce activities in 2015.
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The use of computer technology and internet has
given the new means to the commercial sector.
Apart from socializing and entertainment value,
internet has been playing a vital role in
promoting and building the market value of the
corporate firm among the customers and clients.
Web designing is the most modern and effective
concept that has become necessary for every
business firm in order to promote their company
and mold their place in the existing market. The
advance marketing strategy has been adopted by
the reputed as well as small business firms to
establish their strong position among the various
diversified customers. Every company is looking
forward to design their own website but web
designing is not all be executed by the corporate
sector, It is done by the professionals,  web
development company Maryland.
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E-commerce websites usually have plenty of
product descriptions, technical details, and
catchy headlines. Unfortunately, this is not
enough if you want to improve your SEO rankings
significantly. To attract new clients and engage
your current consumers while dropping a few
keywords, you can use a better SEO Services in
Oklahoma. E-commerce marketing is the practice
of guiding online shoppers to an e-commerce
website and persuading them to buy the products
or services online. A successful Responsive
e-commerce marketing team needs to have expertise
in search engine optimization, pay-per-click
marketing, social media marketing, and display
advertising to reach the top of search results.
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Government regulations for e-commerce
In the United States, the Federal Trade
Commission (FTC) and the Payment Card Industry
(PCI) Security Standards Council are among the
primary agencies that regulate e-commerce
activities. The FTC monitors activities such as
online advertising, content marketing and
customer privacy, while the PCI Council develops
standards and rules including PCI-DSS
compliance that outlines procedures for proper
handling and storage of consumers' financial data.
To ensure the security, privacy and effectiveness
of e-commerce, businesses should authenticate
business transactions, control access to
resources such as webpages for registered or
selected users, encrypt communications and
implement security technologies such as the
Secure Sockets Layer and two factor
authentication.
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BREAKING DOWN 'Electronic Commerce - ecommerce
Ecommerce has allowed firms to establish a market
presence, or to enhance an existing market
position, by providing a cheaper and more
efficient distribution chain for their products
or services. One example of a firm that has
successfully used ecommerce is Target. This mass
retailer not only has physical stores, but also
has an online store where the customer can buy
everything from clothes to coffee makers to
action figures. When you purchase a good or
service online, you are participating in
ecommerce.
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Some advantages of ecommerce for consumers
are - Convenience. Ecommerce can take place 24
hours a day, seven days a week.- Selection. Many
stores offer a wider array of products online
than they do in their brick-and-mortar
counterparts. And stores that exist only online
may offer consumers a selection of goods that
they otherwise could not access.
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But ecommerce also has its disadvantages for
consumers - Limited customer service. If you
want to buy a computer and youre shopping
online, there is no employee you can talk to
about which computer would best meet your
needs.- No instant gratification. When you buy
something online, you have to wait for it to be
shipped to your home or office.- No ability to
touch and see a product. Online images dont
always tell the whole story about an item.
Ecommerce transactions can be dissatisfying when
the product the consumer receives is different
than expected.
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