Ecommerce essay
Ecommerce refers to carrying out business transactions via computer networks electronically. Business transactions involves supplying goods and services on time to the consumers and retailers, giving necessary information when needed and paying for the goods and services offered. In ecommerce all this activities are done through telecommunication networks using electronic devices. Currently, human economic life has highly been changed by ecommerce. Ecommerce came to existence as a result of revolution of traditional business by information technology. Ecommerce was first created in 1998 by USA and Europe. Since then, ecommerce has been highly embraced worldwide. This paper will be discussing what future holds for ecommerce. ( Rayport, Jeffrey & Bernard p, 2)
According to Mills (p1),Since ecommerce came to existence, many businesses have focused on improving their digital strategies so as to benefit maximum out of online platforms. Newer technologies are constantly hitting digital business, business are always on a run to keep themselves on the same phase with technologies. This has made the ecommerce companies to put more efforts on marketing their mobile apps.
Although ecommerce has taken business to high level in a storm, there are some challenges it is struggling with. The challenges are lack of clarification on how to tax online businesses on the grounds of type of transactions involved and business model, difficult in eradicating security threats so us to win consumer trust in online transaction. (Mills p, 1)
Besides the two main challenges addressed above facing ecommerce, ecommerce industry is experiencing rapid growth. This has been attributed by introduction of various payment method, effective marketing strategies by the companies through social media networks so as to know customer needs and increased massive use of internet and embracing new technology strategies that enable them to monitor customer buying behavior.(
Following the above mentioned ecommerce techniques used by companies, its clear that ecommerce is strongly building investor and customer confidence in it. With the constant available and easy to use internet and mobile apps and platform, ecommerce will continue experiencing rapid growth.
References
Rayport, Jeffrey F., and Bernard J. Jaworski. Introduction to e-commerce. McGraw-Hill/Irwin marketspaceU, 2002.
Mills, I. “The Future of Ecommerce for Small Business.” Huffington Post (2014).
Odlyzko, A. M. (2004). Privacy, price discrimination, and the future of ecommerce. manuscript in preparation