eCommerce

Electronic Commerce, commoly known as eCommerce, is a type of industry where transactions are conducted over electronic system such as internet. One of its notable feature is that it uses 'World Wide Web' at some point of transactions even though it can be conducted over mobile devices, social media, telephone as well.

Electronic Commerce (eCommerce) is generally considered as the sales aspect of business. But it is also equally important in marketing aspect as well. It has given the chance to use the global market for the Enterprise and individuals. Example, an individual living in Nepal could actually trade Forex market at U.S stock exchange. And this is only possible through eCommerce.

It has also created a economic impact all around the globe. Today's customer can actually study and compare the product from different vendors and choose the best quality at best price. Research by University of Chicago has found that the growth of online shopping has affected in two areas that have significant growth in eCommerce, bookshops and travel agencies. It has made the larger firm to carry out their expenses at the range of small firms. Thus, fostering their further growth. In 2012, eCommerce sales topped to $1 trillion and is expected to double this year.

Electronic Commerce has in fact brought the global competition all around in almost every areas. Thus, there is also a significant risk for the collapse of small and local firms. And also the reduction of high paid jobs. Since it is carried over electronic media, there is always a risk involved.

In summary eCommerce is an effective platform to expand any business and services without limitation to market size. In its increasing trend if adopted can boost up any business and if not may be the zombie for some.