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What is E-Commerce?

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Introduction

Ricki Lambert Assignment 1 E-Commerce Introduction In this assignment we shall be looking closely at how e-commerce can be defined, how it has originated and the issues related closely to it. Further, we shall take a look at how the growth of trade has increased on the internet. From here I shall be giving descriptions on how this has affected companies that undertake the buying and selling of goods over the internet. Task 1 The word e-commerce can be broken down into the following terms. E, standing for Electronic and Commerce, the buying and selling of goods or merchandise over the internet has become an ever more prominent part of the modern day life. We are now a community of online shoppers, far from the day of walking to the nearest high street to browse the shop windows. It's near enough every where, from radio and television advertisements, to word of mouth, it's almost unavoidable. But, is it really worth the while? And how did it all start? Let's take a look. E-commerce was really a bi product of the internet. At first we were not too sure whether this now booming industry would explode at all, however we have come to see this happen. When considering e-commerce however we should not just think of the buying and selling of groceries from your "local" supermarket. It's far more global than this, if someone was to mention e-commerce instantly now we think of E-Bay. ...read more.

Middle

It operates with over 103 markets and manages over 133 million accounts. This is a leader in its field, but pay pal has a competitor in the form of e-check. It allows transfer of funds to be distributed to people via the internet, and they claim to be able to clear transactions much faster than written checks. This sounds very appealing but both of the systems have had some serious problems with data transmission in relation to security. It has become an ever prominent concern for these two big firms and a problem that won't seem to go away. What's important to bear in mind however is that the risk is still as great if not greater when shopping offline opposed to online. Using these sites to trade money has become an ever increasing way for people to make money. E-commerce has opened the door for new, smaller businesses and has allowed the general public to start up there own business ventures. This however can lead to a few problems, the increased chance of debt. E-Bay allows users to bid in an auction like procedure, and once involved it becomes hard to withdraw. What we must remember is that sites like this are big time corporations, and however honest they appear to be it is obvious they have one goal, to make money. From looking at the business side of e-commerce a little deeper we can begin to see a few real plus points. ...read more.

Conclusion

For example, in Africa we can see in the last seven years an increase in over 643%. That's a massive increase. In Europe there is over a 200% increase. This is obviously going to lead to a rise in internet trading, especially when we consider the way in which people try so hard today to maximise the efficiency of there spare time. As we can see from the graph above, the increase in user demand from the last seven years is directly proportional to the increase in internet usage. This really does state the obvious, and realising this means that we can start to build an image of what the turnover increase would be like for the company. Over all we can see that the internet has provided companies like e-bay the chance to grow with massive rewards. As another example, Pay Pal would have increased greatly from the success of e-bay providing them with a knock on effect. In general terms we derive from this that the success of an internet firm normally provides another with an opportunity to flourish and so on. Conclusion E-commerce will continue to grow, although the rate at which it does will slow down I believe, as the demand for new things will get less as people run out of ideas. Never the less, the world of e-commerce is an amazing prospect. With anyone now able to set up their own website, the endless possibilities of items to sell means that it is a trade that can only continue to grow. ...read more.

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