Ecommerce Definition :
The simple definition for ECommerce is commercial transactions conducted electronically on the Internet. That means, what ever the purchases we made through the internet can be called as Ecommerce shopping. Shopping has evolved from offline to online. Earlier days people has gone to shopping where they go to the market, see the products and buy them. But evolving with the technology people are buying the products from home itself.This has become a new era in the shopping.
By the early 1980s, individual computer users — still mostly at major research universities — were sending e-mails, participating in listservs and newsgroups, and sharing documents over networks like BITNET and USENET.In 1990, a researcher named Tim Berners-Lee at the European Organization for Nuclear Research proposed a hypertext-based web of information that a user could navigate using a simple interface called a browser. He called it the “WorldWideWeb”.
Amazon & E-Bay Evolvment :
In July 1995, Jeff Bezos boxed up the first book ever sold on Amazon.com from his Seattle garage. Within its first 30 days of business, the self-proclaimed “Earth’s largest bookstore” sold books to online shoppers in all 50 U.S. states and 45 countries.Amazon.com set the standard for a customer-oriented e-commerce Web site. Users could search available titles by keyword, author or subject. They could browse books by category and even get personalized recommendations. They could also purchase books quickly and securely with the patented “one-click” checkout system.eBay leveled the e-commerce playing field. You didn’t have to be a Web entrepreneur or an existing business to sell things online. All you had to do was raid your attic, post a listing, and there was a good chance that someone, somewhere, would pay money for your old junk.In 1996, with two full-time employees, eBay sold $7.2 million worth of goods. By 1997, with the help of a Beanie Babies frenzy, eBay sold $95 million in goods. In 2007, eBay sold $52.5 billion in auctions, had more than 220 million registered users and 13,000 employees.Both eBay and Amazon paved the way for today’s e-commerce merchant. Consumers can buy almost anything online, including shoes, home goods and even a real shark’s tooth. Just type “unusual items for sale” in a search engine, and see what comes up. So Amazon & E-Bay can be called as fathers for Ecommerce.
Why Choose ECommerce :
The main reason for choosing ecommerce shopping is, we can do a hassle free shopping. In earlier days the process is we have to got to the market, roam for long time to select any product and sometimes we do not get the desired product also. But with the introduction of Ecommerce, time for searching the products has decreased and we are able to get what we want. Today ecommerce has evolved into mobiles and it is called as M-Commerce. With the ease of doing business and also from evolving mobile market doing shopping online became more easy. The ease of doing shopping is the main reason for development for the ecommerce. Today Ecommerce is evolving more and about 35 million people are buying products online. In India the Ecommerce market is still in developing phase with the players like Flipkart, Snapdeal. Amazon has entered the Indian market recently and it is giving tough competition for the Indian sites.
Choosing a product easily from thousands and the delivery of the product to the home are the two main reasons for the success of Ecommerce market. We can also quote the above two scenario’s as advantages also. You can select the product you want and by the introduction of keywords in the search bar, the searching of products also became easy. We do not need to type the whole product name but we can select it from the suggestions that come up while we search.we can also return the products if we find the products are damaged and this process will be a free of cost and hassle free.Coming to the disadvantages, the look and feel of a product is missing in the ecommerce. We cannot touch and feel the product at the time of buying and this is considered as main disadvantage. Sometimes delay in the delivery and also sending other items instead of our selection is making the Ecommerce market slightly untrustable.
Latest Trends In Ecommerce :
Amazon playing the lead in the ecommerce market has huge share in this sector. According to the study, which analyzed more than 4 million online purchases, Amazon accounted for the majority (53%) of the growth in US e-commerce sales for the year.Having launched its site in June 2013, Amazon India made rapid advances last year, racing ahead of Snapdeal and even beating Flipkart in at least two months in terms of gross sales. By investing $2 billion in recent years and also making more investments up to $3 billion in coming years, Amazon is trying to capture the Indian market. While Flipkart is the only site that is giving a slight competition to Amazon, but it is lacking in the expansion and also gaining the customer’s trust. The recent deal where there are speculations that Flipkart is going to buy the Snapdeal will have more customer base for Flipkart. From the time of Demonetization, a new player PAYTM has also evolved in the market and is trying to grab the major share in the market. Introducing Digital Wallet, more cashback’s we can also assure PAYTM will make a good impact in the industry.
In the conclusion, the main point that will be focused is Ecommerce is going to stand still in coming years and with the competetion between the ecommerce sites we can also expect a better customer service and also decline in the prices.
We, Kaleigen are making Ecommerce market better by providing the best solutions for the Ecommerce application development. In Kaleigen, we can build ecommerce applications, integrate payment systems and also make your site more user friendly.