E-commerce has changed the very nature of modern business essay

Custom The Evolution of E-commerce Essay Writing Service The Evolution of E-commerce Essay samples, help Trading of goods started during the ancient times and it still remains essential for human survival in our present time. The adoption of the internet for commerce has created a major shift in the manner in which business is carried out. This new kind of commerce evolved in the past few decades and currently business transactions are being over the internet. The difference between traditional and e-commerce has continued to widen as many people continue to venture in computer commerce.

E-commerce has changed the very nature of modern business essay

The economic impact of e-commerce By Chris G. From the Quarter 2 issue Comment E-commerce has altered the practice, timing, and technology of B2B and B2C markets, affecting everything from transportation patterns to consumer behavior.

Thanks to the development of electronic commerce, the most basic of economic transactions— the buying and selling of goods—continues to undergo changes that will have a profound impact on the way companies manage their supply chains.

E-commerce has changed the very nature of modern business essay

Simply put, e-commerce has altered the practice, timing, and technology of business-to-business B2B and business-to-consumer B2C commerce.

It has affected pricing, product availability, transportation patterns, and consumer behavior in developed economies worldwide. B2B e-commerce leads the way Business-to-business electronic commerce accounts for the vast majority of total e-commerce sales and plays a leading role in global supply chain networks see Figure 1.

Inapproximately 21 percent of manufacturing sales and One reason why B2B e-commerce is more sophisticated and larger in size than directto- consumer e-commerce is that B2B transactions developed out of the electronic data interchange EDI networks of the s and s. Article Figures [Figure 2] E-commerce retail sales Enlarge this image The steady growth in business-to-business e-commerce has changed the cost and profit picture for companies worldwide.

At the microeconomic level, growth of B2B e-commerce results in a substantial reduction in transaction costs, improved supply chain management, and reduced costs for domestic and global sourcing.

At the macroeconomic level, strong growth of B2B e-commerce places downward pressure on inflation and increases productivity, profit margins, and competitiveness. Double-digit growth for B2C E-commerce retail has become the fastest growing trade sector and has outpaced every other trade and manufacturing sector sincewhen the U.

Census Bureau started collecting and publishing data on e-commerce. That year, e-commerce retail sales represented less than 1 percent of total U. In that number climbed to a little less than 2 percent; by it had grown to 3. During the "Great Recession," which lasted from December through Junemanufacturing, wholesale, and bricks-and-mortar retail sales took a heavy beating.

By the fourth quarter of they still had not fully recovered, even though U. Retail e-commerce, by contrast, weathered the recession relatively well, albeit with considerably slower growth than had been seen prior to the financial crisis. In the first quarter ofretail ecommerce experienced quarterly, year-over-year growth of about 42 percent.

Essay: A Report on E-Commerce Industry - Essay UK Free Essay Database

On the eve of the recession, that rate dropped to a still-respectable 18 percent. Quarterly sales continued to grow until the latter part ofand in the fourth quarter of sales surpassed the previous peak see Figure 2.

It's important to note here that a large portion of B2C sales come through mail-order houses, many of which have an online presence as well as traditional storefront outlets. Contrary to popular opinion, mail-order houses still have a very strong online presence, and until just recently their sales outperformed online-only retailers.

Economic, behavioral changes The changes that B2C e-commerce has sparked arguably have had a more significant impact on the economy and on buyers' behavior than has B2B ecommerce. In the past, when consumers wanted to make purchases they had to set aside time to shop during certain hours of the day, or they had to read through catalogs sent to them by mail-order houses.

Today, many consumers can simply use their computers— and now smart phones or other portable electronic devices—to shop online. Buyers and sellers that engage in e-commerce retail trade are no longer restricted by store hours, geographic marketing areas, or catalog mailing lists.

With a few simple clicks they can gain access to a variety of goods 24 hours a day, seven days a week. The characteristics of retail e-commerce merchandise also have changed significantly over the past decade. Back incomputer hardware was the most common type of merchandise sold over the Internet.

Today, the variety of merchandise is extremely diverse, and shoppers can buy almost anything online. Online shoppers have benefited in other ways. The growth of e-commerce retail sales has reduced consumers' search cost, placed downward pressure on many consumer prices, and reduced price dispersion for many consumer goods.

But this has led to a substantial decrease in the number of small companies operating in certain industries, as they tend to be less involved with e-commerce.A Study on Indian E-Commerce Industry. Executive Summary Following report has been made on the ‘Indian E-commerce Industry’.

All the data has been collected . Marketing has changed in profound ways. First of all, it’s no small matter that the tools have changed. When we started using the phone instead of the letter, or mobile phone instead of the land line, our lives changed in significant ways.

Since commerce is clearly a sort of business, all the keys to success for e-business automatically apply for e-commerce also. E-commerce redefines the very foundations of competitiveness in terms of information content and information delivery mechanisms. The steady growth in business-to-business e-commerce has changed the cost and profit picture for companies worldwide.

At the microeconomic level, growth of B2B e-commerce results in a substantial reduction in transaction costs, improved supply chain management, and .

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The internet has changed marketing, the way businesses sell, and the way people buy hugely, and it’s still continuing to do so. Successful businesses will be ones who keep up . E-COMMERCE RESEARCH PROJECT 1 E-commerce Research Project Ericka Lim-Spears Business Liberty University E-COMMERCE RESEARCH PROJECT 2 Abstract E-commerce has taken over traditional marketing and replaced it with a modern day way of doing business.

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