E- Commerce

E-Commerce

E-Commerce can be loosely defined as 'doing business electronically'. More rigorously, e-commerce is buying and selling over digital media. It includes electronic trading of physical goods and of intangibles such as information. This encompasses all the trading steps such as online marketing, ordering, payment, and support for delivery. It includes the electronic provision of services, such as after-sales support, as well as electronic support for collaboration between companies, such as collaborative design.A further definition of e-commerce is provided by the European Union website; which defines 'Electronic commerce as a general concept covering any form of business transactions of information exchange executed using information and communication technology, between companies, between companies and their customers, or between companies and public administrations. … Electronic commerce includes electronic trading of goods, services and electronic material'.

or we can say E-Commerce involves the sale or purchase of goods and services by businesses, individuals, governments or other organisations and is conducted over computer networks. E-Commerce builds on traditional commerce by adding the flexibility and speed offered by electronic communications. This can facilitate improvement in operations leading to substantial cost savings as well as increased competitiveness and efficiency through the redesign of traditional business methods. E-Commerce is the application of current and emerging information and communication technologies (ICTs) to conduct business. These include telephone, fax, TV, electronic payment and money transfer systems, electronic data interchange (EDI) and the Internet.E-Commerce is emerging as a new way of helping business enterprises to compete in the market and thus contribute to economic success. E-Commerce is important for economic growth, increased business opportunities, enhanced competitiveness and better access to markets.