Online commerce has literally changed the face of the world as we know it today. Today, everything we need, from a pair of shoes to an expensive car can be bought on the Internet. What exactly is meant by e commerce? It refers to the business of buying and selling products online through a number of websites. Ecommerce actually started as an offshoot of the traditional retail industry. And just like in the past, online sales are slowing down as people get accustomed to using the Internet and continue to shop online instead of physically going into the stores.
So, what are the advantages of e commerce? For one thing, it costs less. With less overhead expenses, the price of ecommerce websites are significantly lower. Another advantage is that ecommerce websites allow you to reach a bigger market. For example, if you wanted to open a store selling clothes, you only need to buy a few computers, rent a few tables for displaying clothes, and start selling clothes online.
So now we come to what is e commerce with example. This is basically a computer program that lets you do ecommerce by transferring goods between buyers and sellers online. How does it work? Suppose you want to buy a lamp at your local electronics store. To make the transaction successful, you’ll have to come up with an online catalog showcasing the lamp you are interested in.
Ecommerce websites let you do online auction. What is an online auction? Online auction is where you place an item for bidding. In the site’s database, you will find other items that are for sale, and you can click on your choice to bid on it. When the auction closes, the highest bidder wins the item.
Online retailers, companies, and individuals use ecommerce to sell or market their products and services. One example of this is Amazon, which is an online bookstore. Its strategy is basically to use its extensive internet network to allow customers to search for and purchase books. Other companies and online businesses also make use of this e commerce model.
These four examples just show how ecommerce is changing the way we do business. Although it has some drawbacks, like increased costs and fraud, it has certainly helped change the landscape of the global economy. And all in all, it is a very good thing indeed.