| E-commerce is formally known as electronic | | | | mining and data warehousing. Nowadays, the newest |
| commerce. It is generally the use of the Internet and | | | | trend in the market is online shopping. Giving you the |
| other computer networks in buying and selling products | | | | comfort of shopping at your convenience and at |
| and services. With the Internet continuing their vast and | | | | home, online users use the method to buy products |
| speedy developments, it provides new ways to | | | | and services without actually going to the stores. |
| promote their business and their products. Online | | | | E-commerce opens up new doors of opportunities. It is |
| markets are fast growing to be high potential earners. | | | | basically a business to business connection that will |
| There are practically 420 million users who are online | | | | potentially be a sales boost to your income. The |
| on the Internet every day. With such a large market | | | | system works in a way by selling a product or service |
| base, you will be given that chance to have higher | | | | in their websites. Take for example, offers brands of |
| potential growths when it comes to making sales. | | | | products in their market and sells them at a retail price. |
| Exponential rates of internet businesses have been | | | | The seller then introduces the product manufacturer to |
| noted for the past few years. In fact, the amount of | | | | the potential buyer. In some cases, these |
| trade that is being processed through the Internet has | | | | manufacturers present their own descriptions of the |
| more than doubled these past few years. The creation | | | | product in their own ways. |
| of electronic commerce paved the way for the | | | | In making the sale, the website charges the buyer with |
| invention of other electronic services such as | | | | the retail price that is posted on the website. This is |
| electronic fund transfers, supply chain management, | | | | their income share to the process. However, the |
| Internet marketing, online transaction processing and | | | | website is generally not an intermediary source to the |
| inventory management systems. | | | | sale. Rather, it acts as the seller of the products rather |
| In fact, most modern businesses use the Internet as | | | | than being a promoter. In other words they act like all |
| their base of operations. The primary base of | | | | the traditional retail stores do. Online shopping has |
| operations of the E-commerce was initially meant to | | | | never been this fast and easy. |
| facilitate the transfer of funds electronically such as | | | | There are however, some e-commerce websites that |
| Electronic Data Interchange and Electronic Funds | | | | act as an intermediary to the seller and the buyer. |
| Transfers. Introduced in the late 70s, this allowed other | | | | They charged a certain fee to the seller in posting their |
| businesses to make orders electronically. E-commerce | | | | products on the website. Once a sale is made the |
| also grew in proportions in the 1980s with the creation | | | | seller is charged with the fee for the sale. The buyer |
| of credit cards, automated teller machines and | | | | however, is only charged with a retail price that was |
| telephone banking. | | | | posted on the website. Ecommerce is growing and |
| In the 1990s, the electronic commerce included the | | | | shows no signs of stopping. |
| areas of enterprise resource planning systems, data | | | | |