What is buzzword “E-Commerce”? Electronic commerce, commonly known as e-commerce or e-Commerce, is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce can further defined as technologies such as 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.
Electronic commerce is generally considered to be the sales aspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. This is an effective and efficient way of communicating within an organization and one of the most effective and useful ways of conducting business.
E-commerce can be divided into:
- Business-to-business buying and selling
- Buying or Selling on various websites and/or online marketplaces
- The gathering and use of demographic data through Web contacts and social media
- Electronic Data Interchange (EDI), the business-to-business exchange of data
- Virtual Storefronts” or “Virtual Mall”
- E-mail and fax and their use as media for reaching prospective and established customers