16 March, 2015, India, USA NEWS CORPWorld's Most Read Journal 'The Journal of Sales and Marketing' recently reported that new generation consumers are shifting towards e Commerce since it is user friendly and offers large variety. Electronic commerce, commonly known as E-commerce or eCommerce, is trading in products or services using computer networks, such as the Internet. E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are often used interchangeably. Electronic commerce draws on 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. Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction's life cycle, although it may also use other technologies such as e-mail. E-commerce businesses may employ some or all of the following: Online shopping web sites for retail sales direct to consumers Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales Business-to-business buying and selling Gathering and using demographic data through web contacts and social media Business-to-business electronic data interchange Marketing to prospective and established customers by e-mail or fax (for example, with newsletters) Engaging in pretail for launching new products and services. Some common applications related to electronic commerce are: Document automation in supply chain and logistics Domestic and international payment systems Enterprise content management Group buying Print on demand Automated online assistant Newsgroups Online shopping and order tracking Online banking Online office suites Shopping cart software Teleconferencing Electronic tickets Social networking Instant messaging Pretail. The benefits of e-commerce include its around-the-clock availability, the speed of access, a wider selection of goods and services, accessibility, and international reach. Its perceived downsides include sometimes-limited customer service, not being able to see or touch a product prior to purchase, and the necessitated wait time for product shipping.
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