E-Commerce or Electronic commerce is the trading of services and goods using the internet as the medium for communication. There are various advancements in technologies like mobiles, laptops etc which facilitate the working of this sector. Various technologies used are mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems. E-Commerce websites usually use the world wide web for advertisements, transactions and employ engineers, management, logistics, administrative jobs for smooth functioning. E-commerce users come from social media marketing and SEO.E-Commerce usually does either …show more content…
Transactions could be done anytime and from anywhere with the only requirement being the availability of Internet. Delivery at doorsteps, payment procedures using COD, Internet Banking, Cards etc. By using these ways, consumer effort has been reduced and cost is minimally affected which contributes to the increasing market of E-commerce. Growth of E-Commerce sector also improves the market possibilities and results in emergence of various other sectors as well. For example, Banking, Logistics etc. India is quite a big market for E-commerce sector which is growing at quite a fast pace. There are many start-ups in Ecommerce sector. Since India is a place with variety of cultures and practices, large amount of opportunities appear here for expansion of the market. The explosive increase in popularity and availability of mobile devices combined with internet access via affordable broadband solutions and mobile data is a key factor driving the tremendous growth in India’s e-commerce sector. The Digital India initiative, by the Government of India, boosts the market possibilities of E-Commerce in …show more content…
A significant and fast growing internet population of India (as observed in the IT Sector study), is an indicator of this sector’s huge growth potential in India. But still, approximately, the Internet penetration in India is 19% as of December 2014 (Internet Live Stats) which is low and more internet penetration will result in a better market for e-commerce in India. The analysis of the Demographic profile of Users in India also indicates that the Ecommerce sector in India will rise rapidly. About 75% of users fall in the category of 15-34 year olds. Peer pressure, rising aspirations with career growth, fashion and trends encourage this segment to shop more than any other category and India, therefore, clearly indicates the growth of Ecommerce. The new Government was introduced in 2014, significantly improving the business confidence. Investors have funded the Ecommerce sector in India due to strong growth prospects. It is estimated that the Ecommerce business will continue attracting the investors in future. Startups have also attracted investors. Many famous examples could be quoted such as, flipkart, snapdeal.com, housing.com, zomato
It is larger than the e-commerce market that commands powerful investment due to the rising numbers of internet users and computer access in the country. If one wants to establish a firm connect between e-commerce and the retail market, then we can say that the retail market is here to stay. As disagreeing with the retail market, e-commerce’s potential landscape is at only about $15 billion now. According to current statistics there are 14 million retail outlets in India, which suggest a demographic distribution of an average of 1000 shops for 11 users. Therefore it is clear and pressing need to build a bridge between the e-commerce and retail section. Latest statistics reveal there are 14 million retail outlets in India, which implies a demographic distribution of an average of 1,000 shops for 11 users. There, therefore, is a clear and pressing need to build a bridge between the e-commerce and retail
E-commerce dollar volume of business conducted over the Internet in 2000 and 2001 were reported to be 354.9 billion and $615.3 billion respectively, with these figures forecast to reach between $4,600 and $9,240 billion by 2005, depending on which analyst’s figures are used. Whether it’s the conservative or the optimistic, the growth projections of 747% to 1502% are indicative of the enormous opportunities for e-commerce and the business world of the future (Plante 13/11/03).
In the case of India, retail industry is witnessing unprecedented growth and transformation (Malini 161). Organized retailing is becoming a norm as opposed to unorganized retailing, which was dominant in the past. For a direct investor from United States of America, who is interested in investing in consumer goods retailing and e-retailing in India, it is important to understand the macro environmental factors which can have a serious impact on the success or failure of a venture. According to Musgrave (38) India is the fourth largest economy in the world and it is expected that by 2050 it will become the most populous country in the world. Since the initial relaxation of barriers and encouragement of foreign direct investment in 1991, retailers have started making inroads into the Indian markets.
In general, electronic commerce is the process of buying and selling goods or services using electronic systems between organisations and in business-to-consumers (Saxena, 2013). With the passage of time, electronic commerce had become one of the essential characteristics in the internet era. According to UCLA (University of California, Los Angeles) Centre for communication Policy (2001), online shopping has become the third most popular activity on the internet, immediately following e-mail using, instant messaging and web browsing.
The Electronic Commerce, or e-commerce industry, is one of the most conductive sectors of the economy. E- Commerce is an interesting combination of business models and new information technologies as it deals with the buying and selling of goods and services over the Internet. The three major electronic commerce categories are: business –to- consumers (B2C)
E-commerce has evolved in three different stages over the years to satisfy communications and business needs. E-commerce is an easy way to purchase and to sell products or services over the internet and other computer networks without any difficulties. The invention, the consolidation, and the reinvention with the social and mobile are the three periods of e-commerce. The study is a description of the three different steps of e-commerce.
E-Marketing or electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms E-Marketing, Internet marketing and online marketing are frequently interchanged and can often be considered synonymous. Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas. (Dibb, Simkin, Pride and Ferrell, 2001). E-Marketing encompasses all the activit...
E-commerce, a system by which people can buy, sell and deal without even seeing the person on the other side, has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking.... ... middle of paper ... ...
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
We will begin by seeing the potential market of e commerce in India. Our main purpose is to evaluate that whether E commerce has as wide a range as physical market or an area wider or shorter than that.
E-commerce or electronic commerce is nothing more than the trading or retailing of services or products which is usually conducted through computer networks, usually internet (Turban, 2009, p. 90). Though e-commerce depends on various technologies like telephones, social media, mobile devices, e-mails etc, but mainly the operations of e-commerce are based on World Wide Web (Zhang, 2012, p. 232). Therefore, e-commerce may have to face vario...
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E-commerce or electronic commerce is carrying out business communications and transactions through computers and over networks. It involves buying and selling of goods and services through digital communication. E-commerce also includes transactions on the World Wide Web and the Internet and means such as electronic funds transfer, smart cards and digital cash. E-commerce covers outward facing processes that interact with customers, suppliers and external partners such as sales, marketing, delivery, customer service, purchasing of raw materials and supplies for production.
What's e-business? It is the transformation of every business process through using the internet and associated technologies. In this transformation, each part of the business becomes a part of an intrinsic network, which enables employees, suppliers and customers of a given enterprise to conduct their tasks. People usually try to make a point in differing e-business from e-commence, but as I see, e-commerce is a part of the e-business category, and an important one.
In summary, E-commerce and M-commerce have not yet reached their full potential. New electronic and mobile businesses must follow the already established steps to even have a chance for success. By identifying e-business initiatives, understanding the functional scope of an e-business initiative, exploiting the benefits from e-business initiatives and prioritizing initiatives; a company improves its percentage to compete in their specific market. E-commerce and M-commerce is an integral part of our society and will only continue to grow as the years go by.