E-commerce is buying and selling through online platforms using an e-commerce website. An ecommerce application is a software application that is specifically designed to support the creation of an ecommerce website or add functionality to it.
E-commerce also refers to the sharing of business information, maintenance of business relationships and conducting business transactions with the help of computers that are connected to a telecommunication network without the use of paper documents.
E-commerce applications can be classified as electronic markets, electronic data interchange, internet commerce etc. It may be for B2B, B2C, C2C etc.
Data collection about customer behavior, preferences, needs and buying patterns is possible through Web and E-commerce. Financial companies are using E-commerce to a large extent. Customers can check the balances of their savings and loan accounts, transfer money to their other account and pay their bill through on-line banking or E-banking.
Another application of E-commerce is on-line stock trading. Many Websites provide access to news, charts, information about company profile and analyst rating on the stocks.
E-commerce is also used in the supply chain operations of a company. Some companies form an electronic exchange by providing together buy and sell goods, trade market information and run back office information such as inventory control.
This speeds up the flow of raw material and finished goods among the members of the business community. Various issues related to the strategic and competitive issues limit the implementation of the business models.
Customer-to-Customer E-commerce is direct selling of goods and services among customers. It also includes electronic auctions that involve bidding. Bidding is a special type of auction that allows prospective buyers to bid for an item.
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