The transaction of goods and services online by businesses and consumers is called e-commerce. It can be divided into three sub-categories which are B2B (Business to Business), B2C (Business to Consumer) and C2C (Consumer to Consumer). One of the most popular activities on the web is shopping. You can shop on your leisure, at anytime and anywhere as you like.
History of e-commerce started off with the invention of the very old notion of ‘sell and buy’. E-commerce became possible in 1991 when the internet was opened to commercial use. After the success of websites like Amazon, E-bay and Netscape, everybody wanted to start an internet business. Since then many businesses were traded online using World Wide Web.
With the help of leading technologies such as Electronic Data Interchange (EDI) and Electronic Fund Transfer (EFT), it provides an opportunity for users to exchange business information and do electronic transactions. Thus, these allowed business companies and organizations to send commercial documentation electronically. For example, banks have been using EFT for account exchange information over private communication networks. EDI occurs when business transmits computer-readable data in a standard format to another business.
E-commerce has evolved from online billboards to a fully functional and personalized shopping experience over the past decade. The 3C of first generation e-commerce: Content, Community, and Commerce have now evolved into 7C of second generation e-commerce: Content, Community, Commerce, Communication, Connectivity, Collaboration and Customization.
B2C models have been tried and tested during the first generation of e-commerce, but the newer trends are toward B2B as it provides advantage of close integration and communication with partners and suppliers. On the other hand, e-commerce strategy should include Customer Relationship Management (CRM) to help retain customers on a long-term basis. Besides that, security of e-commerce site remains a big concern for corporations and policies must be implemented to protect business strategy that relies heavily on technology. As a result, one of the most lucrative career paths is in the field of information security.
In a nutshell, e-commerce is a helpful technology which are at their peak and is predicted to grow even more. We as the consumers and internet users are responsible to keep it safe so that e-business can be more reliable in the future.
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