E-commerce consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The concept of e-commerce is all about using the Internet to do business better and faster. It is about giving customers controlled access to your computer systems and letting people serve themselves. It is about committing your company to a serious online effort and integrating your Web site with the heart of your business. If you do that, you will see results!
Every era of business yields new strategies and new ways of doing business. With the advent of radio and television came the first mass-market advertising. Now, the Internet has so radically changed business that the rules for corporate strategy that held for the last 50 years (since the dawn of television) have begun to crumble.
As a place for direct retail shopping, with its 24-hour availability, a global reach, the ability to interact and provide custom information and ordering, and multimedia prospects, the Web is rapidly becoming a multi-billion dollar source of revenue for the world’s businesses. In early 1999, it was widely recognized that because of the interactive nature of the Internet, companies could gather data about prospects and customers in unprecedented amounts -through site registration, questionnaires, and as part of taking orders.
There are many different forms of eCommerce. There are many many different ways of making it easier for customers to purchase products online… and it can vary in different industries, so it is a ongoing process. Shopping carts are the most common form of eCommerce that you are likely to find online, a shopping cart is just a system that allows users to shop online as they would in a store- by allowing them to browse around and select the different items which they are interested in… and save each of the items choosen, until they are ready to purchase or check out.
On an increasing basis, consumers turn to the Internet to purchase and research items. According to a September 2007 Pew Internet & American Life Project survey, 49 percent of Americans have bought a product online and 60 percent rely on the Internet to conduct product-related research. It’s hard to beat the Internet for convenience. A full 50 percent of adult Americans have broadband Internet access at home [source: Pew Internet & American Life Project]. This type of always-on, high-speed connection makes it simple to research and quickly buy goods and services. According to a 2008 survey by the Pew Internet & American Life Project, 78 percent of Internet users either agree or strongly agree that online shopping is “convenient,” and 68 percent say that it “saves them time” [source: Pew Internet & American Life Project]. According to the Pew survey, 81 percent of Internet users have used the Web to research a product they’re considering buying. In fact, 20 percent of Internet users say they research purchases on a daily basis [source: Pew Internet & American Life Project].
E-commerce levels the playing field for retail businesses. Making expansion much easier. Before e-commerce, businesses were restricted to either their states or to certain areas because it was too costly to set up offices in different areas. With the coming of e-commerce, businesses has access to consumers anywhere anytime! Even if you’re a small, home-based company, you can establish a global reach with a simple Web site. Anyone, anywhere with an Internet connection can read about your product, and even better, buy it! You don’t have to set up physical locations in different cities. You just need to invest in a good Web site design and the right online advertising to catch the attention of potential online clients. A well-designed, well-written Web site can do double (or triple) duty as a marketing and advertising tool, a salesperson and a cashier, all wrapped up in one. Plus the Internet never closes. This means that your Web site is working for you 24/7. People can read your marketing materials, test drive your products and buy them outside of normal business hours. Customers will love it! Giving customers control of sales process. Builds loyalty.