E-Commerce and Sales

In this technology advanced world, Internet has given rise to a new economic ecosystem, the e-commerce marketplace, and it has become an integral part of trading activities. It thus paves way for a quick and convenient means of exchanging goods and services which includes both regional and global. Today, e-commerce has matured into a gigantic industry with US online retail generating billions of revenues.

Electronic commerce, which is prevalently known as e-commerce refers to the process of buying and selling of goods or services by means of electronic systems such as the Internet and other computer networks. Electronic commerce that is conducted between businesses is referred to as business to business or B2B.On the other hand e-commerce that is conducted between business and consumers is called as B2C.The quantum of trade carried out electronically has grown exponentially with widespread Internet usage. The use of commerce is conducted in this way, stimulating and drawing on innovations in electronic fund transfer, supply chain management, Internet marketing, electronic data interchange inventory management systems, and automated data collection systems .The Modern concept of electronic commerce utilizes the world wide web at a particular juncture in the transaction's lifecycle, despite the inclusion of a wider array of technologies such as e-mail. There is a staggering statistics which reveals that more than 70% of Americans use the Internet on a daily basis for either private or business purposes and the rest of the world also beginning to catch on, e-commerce's global growth curve is showing a positive and upward trend. 

One of the most successful e-commerce businesses is the E-Bay where a plethora of products are bought and sold daily. The process of selling has thus been revolutionized with the advent of e-commerce sites such as these. The list of items along with the prices is clearly mentioned in the site and people can involve in trading activities accordingly. It is a very cost effective and less time consuming process when compared to the conventional trading process .It is also an accurate process and the chances of fraud are less. The future of e-commerce looks very promising with the advancement in technology and the rise of education which helps to create awareness about e-commerce activities.

Questions:

• What is e-commerce?
• How many people in America are using this ?