A Basic Overview of E-Commerce

Our world as it is today could not survive without the internet. Almost every business or corporation uses the internet as a vital part of their business. As the use of the internet has become more and more prevalent in our daily lives, so have new internet terms and slang. New words and acronyms like blog, LOL, and Googling have been introduced into our daily vocabulary. Another common internet term is e-commerce.

E-Commerce, which stands for electronic commerce (also called electronic marketing) is a way of buying and selling goods using electronic systems such as the internet or other computer networks. Every year the amount of business transacted over the internet grows exponentially. This use has especially grown with inventions like electronic funds transfer, online transaction processing, electronic data interchange, etc.

Though some e-commerce involves the transaction of funds for virtual product, like premium content on a website, or characters and content for MMORPGs (Massively Multi-Player Online Role Playing Games), most e-commerce involves the transportation of physical items. Most large retail stores have an online website for purchasing goods as well as a physical location. This type of e-commerce is called business to consumer. Business to consumer e-commerce is an enormous rapidly expanding market. A consumer can go online and purchase just about anything, from inexpensive items like books, movies, or groceries, to expensive investments like cars and real estate. 

Another aspect of e-commerce is online banking. With just a few clicks, a person can transfer funds from one account to the other, pay bills, buy stocks, or wire money overseas. All major banks and credit unions have the option of online banking.

Most likely every one of us has purchased something over the internet. We are all part of the growing business of e-commerce.

Source by Billings Farnsworth

Ben Wills

I am a professional finance expert and business lover.

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