Basic Theory on E- Commerce

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The internet is rapidly becoming the greatest infrastructures for electronic commerce. The main reason for this is , it offers business to link with other business and individual in an easy manner and at low cost. The process of buying and selling of products or services over electronic systems like Internet , computer networks is the simple model of e-commerce. Although most of the commercial transactions are still taking place by the conventional channels , the trend of using Internet for electronic commerce has been increasing rapidly. The total e-commerce spent by a customer and business surpassed by $5 trillion in 2006 (Kenneth C Lauden,2006). The application of E-commerce is today’s high competition business has created lots of advantages . The e-commerce has made the buying and selling procedures to be faster and advance. Without any physical approach in the store, the product are reached to the customer. This has lead the business to lower the operational cost and improvement in the quality. Without any physical movement by the customer, they can choose the products and even change the product. The advantages of E-commerce is not just limited to the incremental in the profit. It provides the wider range of choices than the traditional commerce because the product and services varies drastically. The e-commerce application has no time boundaries for opening and closing because it can be accessed 24 by 7. The e-commerce provides instant, hassle free information of the product and services to the customer. The evolution of the basic approach of E-commerce , online shopping started in 1979 by Michael Aldrich. After the online shopping the business to business online shopping started by Thomson holiday in 1981, which was in fact the UK’s first Business To Business (B2B) online shopping. Till today, many electronic commerce application are in evolution process. Indeed, it is under a chain. One invention lead to the other with better...
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