E-Commerce - A New Part of Economy

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E-Commerce A New Part Of Economy The Internet Economy (also sometimes called the New Economy or the Digital Economy is being driven by the linking of individuals and organisations through the technology of the Internet. E-commerce creates new challenges to nearly all branches of the economy. That means the use of this technology and not only being present in the Web with an own website. What Is E-Commerce? Electronic commerce is the process of two or more parties making business transactions via computer and some type of network. This includes B2B ( business to business) transactions, online retail and the digitalisation of the the financial industry, too. Furthermore it also includes all the steps which occur in any business cycle, such as placing ads, completing invoices, and providing customer support. E-commerce actually began in the 1970s when larger corporations started creating private networks to share information with business partners and suppliers. This process, called Electronic Data Interchange (EDI), nearly replaced paperwork and human intervention. It was, and is, the foundation of electronic commerce. Today, electronic commerce increasingly refers to business conducted over the Internet. But the e-commerce, which you hear about on the radio, see on TV, and read in the papers and online refers to online retailing - using the Web to sell goods, services, and information to consumers. It will reach 20 of the market share or even more. Online retailing, the ...

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