Ecommerce System

Electronic commerce, popularly called Ecommerce or e-commerce or ecommerce refers to a concept of trading via electronic means, chiefly Internet. Ecommerce is a broad concept which can be summarized as exchanging as exchanging business data between two or more business companies. The concept of E-commerce developed from sub-concepts of technologies like online transactions, online data exchange, and internet advertising. If telephones, social media, e-mail and anything to do with wire are used in conducting commerce rather than traditional face-to-face methods, then it is called Ecommerce. Ecommerce is a subset of E-business. 

Michael Aldrich was the one who developed online shopping for the first time in 1979 marking the first step towards the development of Ecommerce. In 1990 Tim Berners-Lee developed www and when Pierre Omidyar founded eBay and Jeff Bezos launched in 1995, the use of Ecommerce boosted up.

The most common functions of ecommerce are:

  • Buying and selling of goods online.
  • Conduct secure business transactions.
  • Transfer of funds via internet.
  • Advertising of company's products to potential customers.
  • Recognizing global trends by gathering demographic data through WWW.
  • Making deals and agreements between two or more companies via teleconferencing.

Ecommerce has been helpful in many other fields which are listed as follows:

  • Stock management
  • E-tickets
  • Newsgroup and social networking.
  • Group buying and online shopping.
  • E-banking
  • Teleconferencing