E-commerce, or electronic commerce, refers to the buying and selling of goods or services over the Internet. Ecommerce is a method of buying and selling goods and services online. The definition of ecommerce business can also include tactics like affiliate marketing. You can use ecommerce channels such as your own website, an established selling website like Amazon, or social media to drive online sales.
In academia, e-commerce is studied within the fields of business administration, information technology, and consumer behavior. Researchers investigate e-commerce trends, including mobile commerce, social commerce, and omnichannel retailing, to understand the evolving landscape of online retailing and consumer shopping behaviors. E-commerce platforms enable organizations to reach global markets, expand product assortments, and deliver personalized shopping experiences across multiple channels and devices. By leveraging e-commerce, organizations can streamline operations, reduce overhead costs, and access valuable data insights to optimize marketing, merchandising, and customer engagement strategies. Academic studies on e-commerce also explore emerging technologies such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) to enhance online shopping experiences, as well as regulatory challenges, cybersecurity risks, and sustainability considerations in the digital commerce ecosystem.
In addition, Electronic procurement, also known as e-procurement or supplier exchange, is the process of requisitioning, ordering and purchasing goods and services online. It is a business-to-business process. Unlike e-commerce, e-procurement utilizes a supplier’s closed system and is only available to registered users. Learn more about Electronic Procurement.
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What is e-commerce and its features?
E-commerce involves the purchase and sale of goods and services online and is actually just one part of e-business. An e-business involves the entire process of running a company online. Put simply, it’s all of the activity that takes place with an online business.
What are the advantages and disadvantages of e-commerce?
Advantages of eCommerce for Business-
- Wider Reach and Market Accessibility.
- Cost-Effective Operation.
- Improved Customer Engagement.
Disadvantages of eCommerce for Business.
- Security Risks.
- Dependence on Technology.
- Increased Competition.
What is the scope of e-business?
E-business includes the management functions of planning, organizing, marketing, and production, which are conducted electronically. The other functions that are covered under e-business include inventory management, product development, human resource management, and accounting and finance.