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E-commerce can be defined as modern business methodology that

addresses the needs of the organization, merchants and consumers to cut costs
while improving the quality of goods and services and speed of service delivery.
E-commerce as anything that involves an online transaction. E-commerce
provides multiple benefits to the consumers in form of availability of goods at
lower cost, wider choice and saves time. The general category of e-commerce can
be broken down into two parts: E-merchandise: E-finance. E commerce involves
conducting business using modern communication instruments: telephone, fax,
e-payment, money transfer systems, e-data interchange and the Internet. Online
businesses like financial services, travel, entertainment, and groceries are all likely
to grow. Forces influencing the distribution of global e-commerce and its forms
include economic factors, political factors, cultural factors and supranational
institutions.
This study being desk analysis" contains views of various writers and
researchers of E-commerce. This study includes the global trends including India
as a major source of E-commerce , increasing use of e- commerce in developing
nations , reasons behind success of e-commerce as an industry , the use of e-
commerce in global sourcing , advantages of E-commerce and several more topics
being covered under the project analysis. The use of e-commerce in various
countries and their influence over the people or citizens of that country is
remarkable.
E-commerce (electronic commerce or EC) is the buying and selling of
goods and services on the Internet, especially the World Wide Web. In practice,
this term and a newer term, e-business, are often used interchangably. For online
retail selling, the term e-tailing is sometimes used. Electronic commerce is
generally considered to be the sales aspect of e-business. It also consists of the
exchange of data to facilitate the financing and payment aspects of business
transactions.
E-commerce can be divided into
E-tailing or "virtual storefronts" on Web sites with online catalogs,
sometimes gathered into a "virtual mall"
The gathering and use of demographic data through Web contacts
Electronic Data Interchange (EDI), the business-to-business exchange of
data
E-mail and fax and their use as media for reaching prospects and
established customers (for example, with newsletters)
Business-to-business buying and selling
The security of business transactions

Today Ecommerce is an integral part of business because of various reasons like:


Ease of use & Accessibility all across the globe
Great variety & easy compassion of products from different vendors
Trusted payment channels
Shopping can be done sitting in the convenience of home shopping, hence
it is less time consuming. It is therefore very important for any new entrepreneur
to understand the significance of E-Commerce and should know how to utilize
this tool for the growth and development of business.So, whether you have an
existing business or launching a brand new business, whether the volume of your
business is large or small, you can always generate profit by demonstrating your
products or services online, thereby acquiring a large amount of viewer exposure.
In concise, buying and selling will result in profits and returns.
There are so many factors which makes e-commerce to come to the fore
front in today's world. Saving precious time involved in business transactions is
really a prominent factor. Like for instance, net banking makes it easy to carry out
money and baking transactions in a break neck speed as compared to the real
banking scenario. This asserts the fact that Ecommerce is beneficial to both
business and consumer wise as payment and documentations can be completed
with greater efficiency and reliability. Another important factor determining the
flow of whole business is connectivity. Connectivity is very important for both
consumers and business. Ecommerce provides better connectivity for all the
potential candidates all over the globe, thus helping in enhancing the business
without any geographical barriers. From the view point of the customer,
Ecommerce is a good platform for hassle free shopping by sitting in your home.
The customer can browse through all the products and services available and can
review and compare the prices of the similar products available in the online
space.
E-Commerce In Global Sourcing Scenario

E-commerce or electronic commerce, as it is popular, allows domestic as


well as international trade over the Internet. The advent of E-commerce is boon
for global sourcing and import and export. The boost to global sourcing and
import/export through E-commerce is because of its to conduct online marketing,
monitoring supply chain and monetary & data transaction in a dependable
manner.
It is hard to tell whether import/export volume has swelled because of E-
commerce but sure it made global sourcing easier to monitor with its evolutionary
phases. Three decades ago, it facilitated fund transfers- albeit electronically
besides facilitating exchange of PO and invoices in international trade. Electronic
teller machines are the recent manifestations now overtaken by internet creditcard
processing and endorsement of unsigned invoices even in international trade.
Looked at from both import and export traders' perspective, international
trade is easier conducted electronically. Here are the points why present
international trade depends much on E-commerce.
Quick and ease of setting up E-commerce storefronts for both global
sourcing as well as import/export.
Automatic running off of an import and export outfit without having to
recruit many staff.
Global sourcing agents/companies can evaluate/list import/export vendor
Online.
Software assisted documentation for each global sourcing and import
export transaction
Ability to handle multiple, quick and secure data and money transaction
crucial to international trade, simultaneously
E Commerce & Global Sourcing
Global sourcing is one of the widely known strategies of ensuring smooth
business and access to markets in a cost effective manner. In such a
scenario, E-commerce has brought in a new transformation. It has added to
advantages like removing the barriers of time zones, differences in costs,
geographical locations etc. This has resulted in a major push in
development in infrastructure, technology and several other sectors across
the globe. As we see, E commerce is driving the export and import and
propelling the economic growth of numerous developing as well as
developed nations. Business strategies are becoming easy to execute and
business houses are having a wide range of options from where they can
make their choices.
E-commerce has made the path of business smoother and has facilitated
not only in lower cost, but also resulted in procuring material from places
where there is specialization. Moreover, business negotiations are easier
and decisions are quicker due to this boon. Driving the import and export
business in this global sourcing scenario has opened new frontiers for
higher growth. The ease in supply chain is one of the best advantages that
has come from e-commerce in the global sourcing scenario.
China, a major player in the global sourcing scenario has reaped several
benefits in the e-commerce enabled era. The use of internet has facilitated
trade and boosted it at an immense rate. Business from all over the world
has been bagged by this country in spite of the competitive market.
Chinese traders have minted fast money and are still running in that race.