What is E-Commerce

What is E-Commerce or Electronic Commerce?

E-commerce is typically a modern way of business conducted by an individual, a firm or an organization virtually with the help of electronic network i.e. Internet. It’s nothing but buying and selling of products and services by online transaction (through debit card, credit card, net banking and virtual wallets), anytime and anywhere. In a way, it can be interpreted as an advanced form of mail-order being purchased through an online product catalog. E-commerce website is further distinguished into major operating segments of the commercial market viz. B2B –Business to Business, B2C Business to Consumer, C2C Consumer to Consumer and C2B Consumer to Business.

The online shopping concept has taken a sudden boost; it’s catching up fast like a wildfire. Though, it may come to a point of saturation, it is difficult to beat the human mentality of physically picking up of products from point-of-sale where discounts and cheap up-sells encourage customers to shop until they drop.
However, E-Commerce has revolutionized the way a business is conducted by electronic network in modern times. Through this system even little known firms get an opportunity to showcase their market presence and scale their popularity to efficiently distribute their products and services through a network chain.
Anything and everything, tangible or abstract that falls under commercial trading activities and services such as consumer durable, electronic and electrical goods, merchandise, cosmetics, movie tickets, flight tickets and even general goods, fruits, vegetables and a lot more can be transacted and purchased through e-commerce website. The list is unending and there is no bar for distance, location and availability, as online market is open 24 x 7 globally.
It is typically a modern way of business conducted by an individual, a firm or an organization virtually with the help of electronic network accessed by internet. It is classified into four major operating segments of the commercial market viz.,B2B -Business to Business, B2C Business to Consumer, C2C Consumer to Consumer and C2B Consumer to Business.

Anything and everything, tangible or abstract that falls under commercial trading activity & service can be transacted and purchased by this electronic mode of commerce ie. Ecommerce. For example consumer durables like electrical and electronic products and even movie ticket or flight tickets…