Podcast
Questions and Answers
What is e-commerce?
What is e-commerce?
What technologies does e-commerce draw on?
What technologies does e-commerce draw on?
When was the term 'e-commerce' first coined and employed?
When was the term 'e-commerce' first coined and employed?
Which industry drives e-commerce?
Which industry drives e-commerce?
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What does e-commerce typically use the web for?
What does e-commerce typically use the web for?
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What are the two primary markets for online auctions?
What are the two primary markets for online auctions?
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Which online auction site is mentioned as the largest consumer-to-consumer platform?
Which online auction site is mentioned as the largest consumer-to-consumer platform?
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What is the forecasted share of total global retail sales for B2C by 2024?
What is the forecasted share of total global retail sales for B2C by 2024?
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What term is used to describe an auction held over the internet?
What term is used to describe an auction held over the internet?
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What caused the migration of virtually all transactions to digital according to the text?
What caused the migration of virtually all transactions to digital according to the text?
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Study Notes
Overview of E-commerce
- E-commerce refers to the buying and selling of goods and services over the internet.
- It encompasses various business activities and operates 24/7, facilitating instant transactions and global reach.
Technologies Enabling E-commerce
- E-commerce relies on a combination of technologies such as the internet, mobile applications, electronic payment systems, and logistics networks.
- Security protocols like SSL and encryption are critical for safe online transactions.
Origin of the Term 'E-commerce'
- The term 'e-commerce' was first coined and employed in the mid-1990s, marking the beginning of a new digital era in business.
Industry Driving E-commerce
- The retail industry is the primary driver of e-commerce, with businesses increasingly shifting to online platforms to reach consumers.
Purpose of the Web in E-commerce
- The web is used for facilitating transactions, hosting online stores, marketing, customer engagement, and providing product information.
Markets for Online Auctions
- The two primary markets for online auctions are consumer-to-consumer (C2C) and business-to-consumer (B2C).
- Both markets have seen significant growth due to the convenience and reach of online platforms.
Largest Consumer-to-Consumer Auction Platform
- eBay is recognized as the largest consumer-to-consumer auction platform, enabling users to buy and sell a wide variety of items.
Forecast for B2C Retail Sales
- By 2024, it is forecasted that business-to-consumer (B2C) e-commerce will comprise approximately 21% of total global retail sales.
Term for Online Auctions
- "Internet auction" is the term used to describe an auction conducted over the internet, allowing participants to bid on items from anywhere in the world.
Impact of Digital Transactions
- The migration of virtually all transactions to digital platforms has been driven by advancements in technology, increased internet accessibility, and changing consumer preferences for convenience.
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Description
Test your knowledge of e-commerce with this quiz! Explore topics such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, and more. See how much you know about the world of online buying and selling.
