E-commerce is the process of buying and selling products or services over the internet. It is a growing industry that is expected to reach
$2.4 trillion by 2020. E-commerce is growing faster than traditional retail and is becoming more popular than ever.
There are many reasons why e-commerce is growing so quickly. First, e-commerce is convenient. You can buy products online and have them delivered to your door quickly. Second, e-commerce is affordable. Many online retailers offer affordable shipping rates and discounts on their products. Third, e-commerce is secure. You can always be sure that your information will be safe when you buy products online. Fourth, e-commerce is global. You can buy products from anywhere in the world.
E-commerce is one of the most booming industries in the world. According to a study by Google, shopping online will account for over 30% of all U.S. retail sales by 2021. This is no surprise given the sheer convenience and flexibility that comes with buying things from the comfort of your own home. With this explosive growth, it can be hard to keep up with all of the new changes and trends in the e-commerce space. In this blog post, we’ll discuss some of the most important
When it comes to e-commerce website development, logistics is key. In order to provide an enjoyable and convenient online shopping experience for your customers, it’s important to consider all the aspects of your e-commerce platform that will make or break the customer purchase decision. This includes creating a user-friendly website design and layout, developing a checkout process that is secure and easy to navigate, and ensuring that your product catalog is both comprehensive and searchable. By taking into account all of these key considerations.
E-commerce website development is the process and design of creating a website that sells goods or services online. It involves everything from specifying the requirements of the website to designing the user interface (UI) and developing the back-end functionality. This process can be broken down into five steps:
- Planning and research
- Creating a prototype
- Designing the look and feel
- Developing the functionality
- Testing and launch
Ecommerce, similarly known as electronic commerce, involves all the processes that go into the selling and buying of goods, from the manufacturer to the final consumer via the internet or online. E-commerce draws on innovations such as:1
- Supply chain management;
- Automated data collection system;
- Mobile commerce;
- Electronic data interchange (EDI);
- Internet marketing;
- Inventory management systems;
- Online transaction processing; and
- Electronic funds transfer.
In other words, e-commerce is the most crucial sector of the industry. Also, it’s equally influenced by the technological development of the semiconductor industry.
Ecommerce typically utilizes the internet for a section of the trading cycle, though it may use technologies like email. Moreover, e-commerce trading includes purchasing services (like digital distributions such as iTunes Store) and goods (like clothes from Alibaba). Similarly, there are three sections of e-commerce:
- Online Auctions
- Online Retailing
- Electronic markets
Consequently, E-commerce is supported by electronic businesses. These online transactions occur either as customer-to-business (C2B), business-to-customer (B2C), business-to-business (B2B), and customer-to-customer (C2C)2.
Furthermore, the words e-business and e-commerce are usually used interchangeably. At other times, the word retail is used to refer to the process of online retail shopping.
However, e-commerce businesses may make use of all or some of the following:
- Business-to-Business (B2B) trading;
- Involving in retail for introducing the latest goods and services;
- Direct online trading for retail sales to consumers through mobile apps and websites, and conversational commerce through voice assistants, live chat, and chatbots;
- Internet financial exchanges for trading or currency exchanges;
- Business-to-business electronic data interchange;
- Involving in online marketplaces, which process other consumer-to-consumer (C2C) or business-to-consumer (B2C) trades;
- Marketing to established and possible clients by fax or email;
- Using and collecting demographic data via social media and web contacts.
Lastly, in the previous years, the use of e-commerce marketplaces such as Aliexpress and Alibaba have brought about the considerable development of online retail shopping.
How does an eCommerce service work?
Ecommerce operates via the internet. Customers can access an online store to browse through and place orders for services or products through any of their devices. In this part, there is a brief explanation of how an e-commerce service provider works.
After placing the order, the client’s web browser will send messages to and fro with the server hosting the online marketplace. Also, the information relating to the order will be sent to a central computer called the order manager.
This is followed by transferring the information to the databases that handle the inventory levels. These include the bank computer and the merchant system that controls the payment procedure, before redirecting back to the order manager. In short, this ensures that there are enough funds from the customer to process the order and there is enough store inventory to satisfy the demand.
In addition, after the order’s validation, the order manager will send a notification to the shop’s web server. Subsequently, it generates a message informing the client that their order was successful. Then, the order manager will transfer the order information to the fulfillment department or warehouse for the services or goods to be delivered to the customer. At this stage, access to a service may be given, or digital or physical goods may be shipped to the client.
In conclusion, providers that host e-commerce services may include:
- Open-source tools for companies to use in-house development to handle; or
- Software as a service (SaaS) implies that it permits clients to rent online store facilities.
Other examples of e-commerce service providers include:
- Walmart marketplace