Technology has changed the way we live, think and make money. Thanks to the digital Technology. And when it comes to making money using technology, E-commerce technology is worth discussion.
What is E-Commerce?
E-commerce refers to “the conduct of transactions by electronic means.” In other words, “Electronic commerce” or e-Commerce is the use of electronic mediums to carry out business transactions. Often it refers to the sale of goods and services over Internet; however it also covers buying mechanisms online.
Today no business can overlook the massive ‘Online Market’ existing on the internet which means E Commerce is just inevitable. Traditional markets have been replaced with the ‘Virtual Markets’. With E Commerce, it is now possible and convenient for sellers to reach to global customers enhancing the boundaries of their market, thus changing the way business is conducted. Online Marketing is drastically different from the physical marketing which involved the hassle of door-to-door marketing, product distribution and selling.
E Commerce involves the application of Information and Communication Technology (ICT) and Electronic Funds Transfer (EFT) for exchange between consumers-organizations, organization-organization and even consumer-consumer.
E-Commerce is not only restricted to buying and selling online, but also covers:
• Consulting of users
• Preparation of estimates online
• Access plan to point of sales
• Provision of an electronic catalog
• Online payment
• Real-time product management
• Delivery tracking
• Post-sales service
With E-commerce, consumers now have access to almost every necessity of their daily lives at affordable prices on the internet. E-commerce allows you to buy anything without actually visiting the store or enquiring the salesperson number of times. E-commerce has made our lives faster and simpler.