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What is Ecommerce?

June 5, 2019

What is ecommerce? This is a question that I have been
asked many times by people. I think that the main reason
for this is that in the information age today nearly
everything is internet based. If you look at how we used to
transact in the past you will notice a significant
difference.

Ecommerce has had a huge impact in our lives. If you need
insurance you can get this over the web, if you need to do
grocery shopping you can order over the internet and if you
need any electrical appliance, books or dvds you can buy
from an online store like Amazon. If you operate a business
and have not considered using ecommerce your competitors
will leave you behind.

Most people these days first do their research on the
internet and once they have completed this research they
will transact over the web primarily because it is very
convenient. By definition ecommerce is transacting using
internet technologies.

This could be selling products online like an online store
with a shopping cart and accepting payment via credit cards
or electronic checks. EDI (Electronic Data Interchange) with
the relevant suppliers and customers for example you could
have a marketplace where companies can order stationary
from stationary agents and order in bulk. This will pass
significant savings to the purchaser. This will streamline
your business processes using workflow systems that will
assimilate your business intelligence.

There are two main types of ecommerce. These are B2B which
is business to business ecommerce and B2C which is business
to consumer ecommerce.

Let us look at the main advantages of implementing
ecommerce in your business. If you can produce a high
converting ecommerce site then you will create a profitable
stream. This will also reduce the cost of the order as
traditional paper based orders have a higher cost to
process. You will also gain access to a much larger
customer base as you are not limited by a physical store as
geographic boundaries would have been removed.

The sooner that you implement ecommerce in your business
the sooner you will be able to reap the rewards.