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Chapter 1 Ecommerce

Bangalore University B.com notes

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23 views

Chapter 1 Ecommerce

Bangalore University B.com notes

Uploaded by

sharathgowda.97171
Copyright
© © All Rights Reserved
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E-COMMERCE AND ITS TECHNOLOGICAL ASPECTS Unit Overview ~~ ECommerce (Meaning, Working, Nature, Alvis, Features and Concepts) “* Problems with Traditional Business System < Benefits of E-Commerce Limitations af E-Commerce iypes of E-Commerce (82, B2C,C20, C28) E-Commerce Technologies (Flectronte Market, RDI, Internet Commerce) Architectural Framework of E-Commerce ° Web Based E-Commerce Architecture a ana E-COMMERCE - MEANING, CONCEPT AND NATURE snveae ence, relers t on any device. some of the best een = st e-COMMETEE ce : vany device. 5 ike Ftiphart, Amazon PHY Indiaraare, et6, Parties es ll oa 5 y transformed the way | ificantl are takes place directly between , | tan activity’ that ny commercial activi 5 doing business. It includes any through electronic communication and digsty partners, or its eee eel in which buyers participate 5 rather than in a physical store. It is an onling with the buyer without having selling products over the interne India include e-commerce websit The evolution of e-commerce has sigmt! business. formation processing technal all stages of purchasing processes ¢l commercial transaction in which the a face to face interaction, - However, when people talk about e-commerce: ey usually ae eare buying and selling goods on the internet. But the e-commerce UNI =e = types | Of activities as well. A good example of an e-commerce platform is com, the bigges | | online marketplace in the United States logy: Iisa Jectronically seller can communica E-commerce can be defined as: It @ process of baying and selling of products, services and information over electronic networks, including the internet or mobile applications. By definition it covers a variety of business activities which use internet as a platform for either information exchange or monetary transaction or both at times. 1.1.1 E-Commerce: Basics and Importance | E-commerce encompasses a wide range of activities, including online retail stores, online | marketplaces, online auctions, digital product downloads, and internet banking, among others. E-Commerce is a modern business methodology that addresses the needs of organizations, merchants and customers to cut costs while improving the quality of goods and-services and increasing the speed of service delivery. E-commerce offers opportunity to Perform profitable activities online, Besides the primary function of buying and selling goods and services online, e commerce offers various additional services and capabilities that enhance the overall experience for both businesses and consumers. Some of these include: fay Publishing and distributing information (b) Providing customer service (c) Gathering information (on competitors, and so forth) Services remarkable j on the tr ght eliminating many of T togethe Costs previc Marketing, g the help of internet is 4 website. 1 ¥ monetary trans, a is e-commerce E-commerce stre thens rela tailored recommendations ing, personal b Through dai N€Sse5 anticipate cy stomer needs, pr ide relevant pro 4 efficient customer service. Const ant product sugy ant come ication via emails, 7 Support enhances engagement and resolves. ¢ prom mechanisms empower buyers to share expel nees, while loyal offers incentivize continued patronage MS pri building ity by ensu Secure transactions, reliabl friendly interface, ultimately strengthening the bond bet ables the through convenience, customization, and reliable sery Bene 1 of new games, electronic ypes of information-based products such that can be form: books, and information-on deman useful for consumers. - business (B2B) se activities both in the business E-commerce encompasses many dive: de electronic trading, et. Activities market and in the business-to-consumer (B2C) mark of goods and services, online delivery of digital content, clectronic fund transfers, electronic online sourcing, share trading, commercial auctions, collaborative design and engineering es both is te fail 4 Public procurement, direct consumer marketing, and after-sales service. It invah financial and lega products (e.g. consumer goods) and services (e.g. information services, services). = and ls Technological Aspicy, u fc transactions such gg veithdrawingg money ATOM an AT lie nt through cellular phen, his to the aphone, seri confirming PAP ra, ordering a births is not limited the Trawe or payme ventificate over the IMEENEL, among, machine, sending 2 text messane Paying for groceries t-cxamples of e-comenicl ence, electronic funds transfer naaction processing, electronic jomated data collection others, ane di nage vnch w mobie 3 ve tran mark ry _managemen E-commerce draws on «ont systems, and aut am cBRE supply chain management. data interchange (EDN), inve systems Se AE ee ced rope nee ig eae ee . tos99.2 billion USD by 2028 The COVID=19 outbreak to grow 2 25% in March 2020 alone Sommerer sales projected meroe sales spike : notable statistics about the saw en are are some The e-commerce industry is ever-growing: Here are growth of e-commerce businesses oq of all retail sales worldwide, They are g sales accounted forever HE and reach 21.5% © In 2020, onli expected to keep growin, 2024. © The pandemic resulted in an ‘overall growth of 4183 billion in terms of online spending and the figure is predicted to grow tt $1 trillion in 2022. ing ze will make up 95% of all purchases By the year20% that it inevitably becomes an # Experts predict that e-comme! In short, the trend in the e-commerce industry 5 inseparable part of many people's lives The power of e-commerce should mot be underestimated as it continues to pervade everyday life and present significant opportunities for small, medium, and large businesses in the e-commerce industry, such and online investors. Some of the major players as Amazon, Alibaba, and eBay, are well known by the public and own a large proportion of the market share. 1.1.2 Aims of E-Commerce The aims of e-commerce revolve around facilitating efficient a transactions in the digital realm. The convenience for everyone to shop anytime, anywhere instead of visiting the shops in person is one of major motivations for the growth of e- commerce. Moreover, e-commerce endeavors to optimize operational efficiency, nd accessible commercial user expe profitability engagement within commerce ar online ; fi nat mers with quick delivery of pr ; S aceess to a world wide market ee crease sales in exi: ke é d opening, new market slop business opp s over the int = Toimpr ‘Ove productiv’ wity and competitiveness : = Toimprove cu: : F ustomer experience & satisfaction T more customizable products * To keep the virtual shop open 24x7 * To reduce costs assc d with marketing, labor, transaction, com infrastructure and inventory « To improve marketing and branding « To optimize operations. To build partnerships and collaborations. 1.1.3 Working of E-Commerce E-commerce works in the same way a5 any physical store. The only difference 1s that e also not limited to any geographical area or ered by the internet and is orders for products or commerce is powe jore to browse through and place on. Customers access an online s! s chown in fig. 14 of how & regi «via their own devices. Here's one example service erce system might work sophisticated, fully computerized e-comm Commarea Iie Tatas ateay = Z. 14, The payment Processor, enough ¢ash in the bank o ‘The merchant system auth be completely transferred WPically a bank computer, confirms the customer has. T enough credit on her card to complete the transaction. ‘onzes the transaction to go ahead, though funds will not until several days later The order manager confi ‘ firms that the tran: thon Ih 7 ee wolna hewn saction has been successfully processed and Web server displays a m, Wssage notifying the that their a Th Be ying the customer that their order has bee - The order manager sends a request to the warehouse to dispatch the goods to the customer, The order manager sends. order data to the warehouse or fulfillment department to dispatch the product or service to the custamer The order is dispatched from the warehouse and shipped. The customer will receive an email that the product is out for delivery. The order is delivered, and the transaction is complete, 1.1.4 Characteristics of E-Commerce E-Commerce provides following features: n Ubiquitous-ness: Ubiquitous-ness in e-commerce refers to its Pervasive presence across various devices and. platforms, ensuring seamless access and consistent experiences for users. It implies the ability to shop anytime, anywhere, via desktops, mobile devices, apps, social media, and other digital channels, enhancing accessibility and convenience for customers. Worldwide Reach: It enables a business to easily reach across geographic boundaries. The potential market size of e-commerce is approximately identical to the size of the online population of the world. In spite of traditional cultural and ide access to the client. national boundaries, it enables worl Universal standards: Universal Standards are standards that are shared by all nations around the world. Using the power of standard, ecommerce gives us all the ability to connect at the same “level” and provide network sulemaliieny The standards guide ecommerce technologies to realize its full potential. The universal E-Commerce and It Techag 9% Customization: Custom ization, | tecommendations, in ecommerce includes personalized product adjustable use, ind ame marketing messages, user-specific content, and T interfaces. Utilizing cust platforms offer unique sey customer data and preferences, e-commerce pes satisfaction, and the likelihood Tsonalized experiences, enhancing user engagement. of conversions, 10. Iasproved sales: E-Commerce Bives a large Using e-commerce, we improvement in existing, sakes welume fan generate orde Ts and prodiucts from any time, anywhere without any human intervention, 5 Cashless Payment: E-Commerce allows the use of et ectronic payment. It allows the transaction from credit can ts, debit cards, electronic fund transfer via bank's website, and other electronic payment methods 12, Support E-commerce provides various ways to provide pre-sales and post-aales assistance to provide better services to custome 13. Inventory Management: E-commerce automates inventory management. Reports get generated instantly when required. Product inventory management becomes very efficient and easy to maintain. 1.1.5 Scope of E-Commerce Th products online through some sites like Flipkart and Amazon, In the age of e-commerce potential for e-commerce development is enormous. Now a day's one can buy everything from grocery items to laptops are available online. ‘The scope of e-commerce can be enumerated as follows: Exchange of digitized information: The digitized information exchange an ‘ 8 represent communications between two parties, coordination of the flow ce car be between and service, or transmission of electronic orders. These exchanges car i individuals. organizations or in -based platforms, leverages internet-based pl |: E-commerce technology * Technology-enabled: ystems to facilitate buying and selling, . yimvent 5" databases, encryption, and online pay cyber-security les website development, mobile apps, It includ " goods/services. ance online commerce experiences. measures, and innovative tools to enh: —_—_—_—_ Technological Innovations The evolatn of technologie mabe commer ock-chain for secure nasa Abdivan ctbots and augmented ret fe Immersive shopping experince sins 9 expand ecommerce

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