What is e-commerce?

E-commerce

• E-commerce means any form of business transaction conducted online.
• E-commerce means selling or buying any kind of goods and services online using some internet medium.
• E-commerce refers to commercial transactions conducted online. This means that whenever you buy and sell something using the Internet, you’re involved in e-commerce.
• On the other hand, it can be defined as "Sharing business information, managing business relationships and facilitating transactions with Internet technology (linking buyers and sellers)".

• Electronic commerce or e-commerce is a term for any type of business, or commercial transaction, that involves the transfer of information or goods across the Internet. 
• It covers a range of different types of businesses, from consumer-based retail sites, through auction or music sites, to business exchanges trading goods and services between corporations like Amazon, Flipkart, etc.
• It is currently one of the most important parts of the Internet to get successful.
• E-commerce allows consumers to electronically exchange goods and services with no delay of time or distance. 
• E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. 
• These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. 
• The terms e-commerce and e-business are often used interchangeably. 
• Note:-The term e-tail is also sometimes used in reference to the transactional processes for online shopping.

Advantages and Disadvantages of e-commerce

Advantages:-

• It speeds up the buying process and saves time for customers.
• Provide flexibility to the customer to buy products 24/7.
• It personalizes the store as per the customer's expectation.
• Keeping in contact with customers is often easier for e-commerce businesses.
• It reduces recurring costs while hiring virtual support resources.
• Avoid human error while dealing with customers.
• It can easily re-target your customers.
• It can provide you less store setup cost and quick ROI (Return of investments).
• E-commerce also allows your business to scale up easier than physical retailers.
• There are lots of reviews available for every product.
• Able to provide detailed information to the customer about any product.
• Best Quality of services in reasonably low operation cost.
• No Geographical limitation, tap the global market from day one.
• It provides the facility to compare products and prices.
• Environment – Friendly.

Disadvantages:-

• Lack of personal touch.
• It is difficult to try before buying.
• Security and credit card fraud are also huge risks when dealing with online shopping.
• It is always unsure about the quality.
• There is always the possibility of site crash issues.
• Price comparison is a major advantage for online shoppers that can restrict businesses.
• Possibility of late Delivery.
• Shipping is convenient for consumers, but it adds inconvenience to the business.
• Security issues.
• It requires High Internet bandwidth.
• Some products are difficult to purchase online.
• E-commerce is highly competitive.

"Questions regarding this topic"

• What is E-commerce? Explain in detail.
• What is E-commerce? What are its advantages?
• What is E-commerce? What are its disadvantages?