A Traditional Distribution Channel that organises that works in bringing the producer and consumer together.
In simple E-Commerce is buying and selling on the internet.
Electronic Commerce is one of the most important aspects of the internet to emerge. It allows people to exchange goods and services immediately and with no barriers of time or distance. Any time of the day or night, you can go online and buy almost anything you want.
In the development of e-commerce, Internet-based buying and selling, 1998 proved to be a watershed, as millions of people opted to do their Christmas shopping on the Web. The numbers exceeded all expectations, topping $5 billion in the United States alone, according to the Marketing Association of America. Internet stocks jumped, and projections about the growth of e-commerce are scarcely out before they have to be revised upward. In May 1998, for example, the International Data Corp. estimated the e-commerce market would reach $333 billion in 2002; half a year later the estimate was at $400 billion and rising.
ECommerce also provides a way for the merchant to connect his customers, vendors, suppliers and employees all over the world. He can enable his business or organization to reach an infinite number of customers over the Web, seeking out potential markets that were once outside the traditional boundaries of his business.
Advantages of Electronic Commerce.
Always open, simplifies communication, reduced paperwork, reduced errors / time / overhead, Easy to enter into new geographical regions, new business opportunities, improved market analysis, streamline and automate purchasing.
Instant worldwide availability.
Streamline buyer-to-seller relationship resulting from simplified communication and direct interaction.
Reduced paperwork.
Reduced errors, time and overhead costs due to the elimination of redundant information.
Reduced time to complete business transactions.
