The impression of e-commerce on the global economy is far-reaching. At present, ecommerce is the latest mantra in increasing your sales. That is because instead of selling your items and services via a neighborhood store, you’ll be able to sell online and achieve a greater customer base. Aside from offering delivery services, you will need an online ecommerce merchant account to accept credit card payments to make your venture a success.
Even though most people access the Internet on mobile devices, many online retailers nonetheless do not adjust well to smaller screen such as the one of a smartphone. The tendency is that in the next few years this scenario changes, once the responsive design is one of the items that almost all influences the user experience.
In the United States, certain electronic commerce activities are regulated by the Federal Trade Commission (FTC). These activities include the use of commercial e-mails, online advertising and consumer privacy The CAN-SPAM Act of 2003 establishes national standards for direct marketing over e-mail. The Federal Trade Commission Act regulates all forms of advertising, including online advertising, and states that advertising should be truthful and non-deceptive. 29 Utilizing its authority under Section 5 of the FTC Act, which prohibits unfair or deceptive practices, the FTC has introduced a number of cases to enforce the promises in corporate privateness statements, including promises about the security of consumers’ personal data. 30 As a result, any corporate privateness policy related to e-commerce activity may be subject to enforcement by the FTC.
Mobile commerce, or mCommerce, is a quickly rising new avenue of eCommerce that is principally driven by the expanding market and influence of smartphones and millennials’ consolation with shopping online. In 2018, the mCommerce sector enjoyed a 39.1% increase in sales compared to the previous year.
Other than the convenience it offers to the customers, e-commerce can also be hugely convenient to businesses. Here are some reasons why. That doesn’t mean the ecommerce store shouldn’t be about salesmanship, but the focal point of the transaction rests with the consumer. Ecommerce doesn’t have this limitation. Instead, you can sell to anyone, anywhere in the world by way of your digital ecommerce business.
In this section, we’ll shed mild on some of the most typical platforms on which ecommerce takes place. Availability. Aside from outages or scheduled maintenance, e-commerce sites are available 24×7 , allowing guests to browse and shop at any time. Bricks and mortar businesses tend to open for a fixed amount of hours and may even close entirely on certain days.
E-commerce (electronic commerce) is the shopping for and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business ( B2B ), business-to-consumer ( B2C ), consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are often used interchangeably. The term e-tail can also be sometimes used in reference to the transactional processes for online shopping.