There are various electronic commerce activities and mechanisms.
E-Commerce Activities and Mechanisms include the following but not limited to:
E-Market Place: It is an online market usually B2B where buyers and sellers exchange goods or services. EC transactions take place in the electronic equivalent of a mall called the electronic marketplace (e-marketplace). Electronic marketplaces utilize different tools (electronic shopping cart, e-catalog, fulfillment technologies, and checkout and payment mechanisms) to provide the equivalent brick and mortar shopping tools.
Types of Electronic Market Places:
1. Electronic Storefronts: A single companys website where products and services are sold. Example: Walmart
2. Electronic Malls: An Online Shopping Center where many online stores are located.
3. Market Place: An Online market, usually B2B where buyers and sellers negotiate.
Electronic retailing is a form of electronic commerce.
E-Retailing --- This type of e-commerce refers to the act of using internet by retailers to perform business activities. It covers retailing using a wide variety of technologies or media.
E-Tailing -- Selling of retail goods over internet. E-Tailing is short form of E-Retailing. E-tailing can be used as a synonym with business-to-consumer transaction. To keep it short, Online retailing can be referred to as E-Tailing.
E-tailing has resulted in the development of e-tailware--software tools for creating catalogs and managing the business connected with doing e-tailing. A new trend is the price comparison site that can quickly compare prices from a number of different e-tailers and link you to them.
Example: Bestbuy site provides a customer to select a product upto 3 or more varieties and compare them.
Examples of e-tailing are Dell, Walmart, Amazon.
Following are some of the key differences between e-marketplaces, e-malls, e-tailing and physical marketplaces, malls, and retail outlets.
E-Marketplaces, E-Malls and E-Tailing is all about the business taking place in an online manner, nothing is physical. 2.
There is a wide variety of selection available online when compared to the physical outlets or malls. More options available online. 3.
Certain tools are provided to compare the prices between different products and services which lead to an easier desired selection process. 4.
No need to drive to the physical location of the mall for purchases.
Tools and Techniques for a successful E-Commerce presence:
Few tools for successful e-commerce are listed below but are not limited to:
1. Analytics: Analytics gives the idea of the sales where they are originating from. It is not enough to know that our products and services are getting sold. We need to know how the customers are visiting our site, how the traffic is being redirected to our site and how the marketing efforts are done. Some ecommerce scripts have statistics built in or available through a plugin. Standalone packages such as Google Analytics also provide you with a way to thoroughly check your stats, and all you do is place a line of code on your site for tracking. Analytics allows you to check all of your data online. You also have access to it whether you have access to your ecommerce servers or not.
2. Accounting Software: Having the right accounting software for your ecommerce store is essential to keeping you in the black. This simplifies the book-keeping process and cuts down on the chance of human error causing issues with accurate profit and loss numbers.
3. Cross Selling: Cross selling is an easy way of exposing additional products to the customer based on their search. For example, if a customer is visiting a site to buy a phone, the site will automatically recommend the customer to also take a look other available options such as phone accessories, headphones etc.
4. Currency Converter: Dealing with international...
References: Turban, E., King, D., Lee, J., Liang, T. & Turban, D. (2012). Electronic Commerce: Managerial and social networks perspectives. Upper Saddle River, NJ: Prentice Hall.
Miller, E. (2000). Survival Tools for an E-Commerce World. Computer-Aided Engineering, 19(6), 52.
PR, N. (2013, December 5). Easy Techniques Fuel E-commerce Merchandising. PR Newswire US.
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