E Commerce Is The Trading Of Services And Goods Using The Internet As The Medium For Communication

E Commerce Is The Trading Of Services And Goods Using The Internet As The Medium For Communication

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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 of (not limited to) the following things:-
1. Online shopping Websites.
2. Participating in or providing online marketplaces.
3. Online trading of goods.
4. Gathering and using demographic data through web contacts and social media
5. Electronic data interchange
6. Marketing to prospective and established customers by e-mail or fax (for example, with newsletters)
7. Engaging in pretail for launching new products and services

With the introduction of E-commerce, an efficient mechanism of communication between consumer and sellers, over the internet, has been established, which speeds up and simplifies various processes. 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 im...

... middle of paper ...

...rovides higher amount of profit. This also implies that COD is a loss to the company since cost of the internet transactions is quite less. There are various sections here like internet banking, internet stock exchange, internet insurances etc. There has been an increasing trend of various foreign e commerce sites entering the Indian Market in this sector such as Fortumo. Various Indian start-ups have emerged such as Paytm, freecharge.

The main problems faced by emerging start-ups are :-
1. There is a need to provide secure transactions here. Trust development is necessary in consumers mind.
2. Sometimes the portals fail which discourages the users from trying again. The systems are required to be more efficient.
Even after these problems, this ecommerce sector is increasing in popularity and we will soon be using e finances regularly (if not using now).

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