Electronic commerce and its uses

Electronic commerce and its uses

The technology has developed so much and everything has become online now. Nowadays there is no need of going to shop and do purchase. We can simply sit at home and do everything online. E-commerce is the process of buying and selling products through online. The only thing it needs is a strong and stable internet connection. The songs download and the online books shopping are the various transactions done using e-commerce technology. The ecommerce has three areas in it. Let us see what those areas below are.

  1. Online retailing
  2. Electric markets
  3. Online auctions

Online retailing:

Online retailing means the people can select the products what they want to purchase and order them through online using internet. The retailers will take the order and send the products to the customers. This actually saves the time and the energy of the customers. Because there is no need of any travel, everything will be online and the products will get home delivered. The customers can pay the amount of transactions through online or they can give the cash on delivery of the products. Now the online retailers have grown too much and no people go to shop for purchasing. Even we can order the foods online and the foods will get delivered within a short period of time. This online retailing will be very useful for the aged people as they are unable to move out.

Electric markets:

Electric markets are used by many organizations which have link with the other organizations for business purpose. It may be centralized or decentralized and if it is centralized, it will use a central hub which will send services to all the participants and if it is decentralized, it will use Electronic Data Interchange method (EDI).

Online auctions:

As the name sounds, the auction will happen online through the internet. There are many types of online auctions available. They are as follows.

  • English auctions
  • Dutch auction
  • First price sealed bid
  • Vickrey auction
  • Reverse auction
  • Bidding fee auction

Uses of E-commerce:

E-commerce is mainly used to have a good communication with the other business so that we can get to know where our business stands in the market and what the things we must improve to get more customers are. The communication with the people is the major activity to be done by the business people because the customers will understand about our business products only when we explain them through communication.

Conclusion:

Thus come to the conclusion that e-commerce is the great technology based invention used for many purposes by many business people.