What is Digital Commerce, eCommerce, or Electronic Commerce?
Electronic commerce, or digital commerce is generally referred to as (electronic marketing) e-commerce as well as eCommerce, is composed of any purchasing along with selling associated with products and solutions, and also imparting services through electronic automated systems which includes the Internet service as well as various other computer system networks. The volume of business carried out in electronic format has grown up astonishingly due to the universal Internet usage.
The utilization of commerce is carried out by doing this, ceaseless ‘goading’, as well as using new developments in electronic money exchange, supply chain management, web-based marketing and advertising, online financial transaction processing, electronic data interchange (EDI), inventory management systems (IMS), as well as computerized information collection systems. Contemporary electronic commerce usually makes use of the Internet during any money exchange transactions and hence, eCommerce is becoming very popular worldwide.
A significant portion of digital commerce or electronic commerce is carried out completely through electronic means pertaining to digital products, for example, gaining access to prime quality content material on an internet site, yet the majority of digital commerce will involve the moving of actual physical products in some manner. Internet merchants are occasionally referred to as e-tailers or e-retailers, and the online retail business is oftentimes referred to as e-tail or e-retail. Nearly all major merchants have digital commerce existence on the Internet.
Digital commerce or ecommerce, which is carried out in between companies, is known as B2B (business-to-business). B2B is usually available to every interested partners (e.g., commodity exchange) or restricted to exclusive, pre-qualified members (exclusive electronic market). Digital commerce which is carried out between companies and buyers, on the contrary, is referenced as B2C or business-to-consumer. This can be the kind of electronic commerce or ecommerce adopted by very successful businesses like Amazon.com.
Digital commerce or electronic commerce (business done digitally or electronically using the Internet) is normally regarded to generally be the sales or revenue feature associated with e-business or electronic business (ecommerce). This furthermore is composed of the actual transaction of information in order to help the handling of financial and any payment features of the commercial dealings.
Business Ecommerce Applications
Some common applications related to electronic commerce are the following:
- Electronic mail (email)
- Enterprise content management
- Instant messaging
- Internet shopping as well as order tracking
- Internet banking
- Internet office suites
- Domestic (local) as well as international payment systems
- Shopping cart computer software
- Teleconferencing (communications using electronic means like the Internet)
- Electronic tickets
Within the United States of America, a number of digital commerce or ecommerce activities or transactions are governed by the Federal Trade Commission (FTC). These types of transactions or activities consist of the actual use of business oriented e-mails, internet advertising, as well as customer privacy — especially the sensitive personal information and the credit cards information, for example. The CAN-SPAM Act of 2003 ensures national standards with regard to direct marketing promotions using e-mail services.
The Ryan Haight Online Pharmacy Consumer Protection Act of 2008 that came into law in 2008, amends the Controlled Substances Act to address online pharmacies.
Contemporary or modern electronic commerce (digital commerce) requires every aspect from ordering “digital” content with regard to immediate online consumption, to ordering traditional products as well as services, to “meta” services to help other kind of electronic commerce.
At the consumer or customer level, the digital commerce or the electronic commerce is largely carried out on the Internet. A person could use the Internet to buy all sorts of things from books or even household goods and groceries, to high-priced things such as real estate. One more example would likely be internet banking, i.e., online bill payments, purchasing shares, switching money from one bank account to another, as well as starting wire-transfer transaction to any other nation. Almost all of these kinds of functions are usually carried out with a handful of strokes of the computer keyboard.
On the institutional level, large businesses as well as financial establishments make use of the internet to trade monetary information in order to help domestic as well as international business enterprise. Data integrity as well as safety are very serious and also demanding concerns for electronic commerce at this time.
Study: From Wikipedia, the free encyclopedia. The text is available under the Creative Commons.
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