E-commerce (Term Paper Sample)

E-COMMERCE
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E-commerce is a business platform that allows trading of goods and services through electronic sources such as the Internet. Over the years, this model has gained popularity among traders because of its convenient and flexibility since it is available every day. Various goods and services are available on e-commerce from clothes, books, and electronics, to air tickets and banking services. Thus, e-commerce is a new trend that has found its ground in the business world and will develop and expand over the years.
The system has revolutionized shopping and trading because it has eased business transactions across the globe since its inception in the 1970’s. Some of the most prominent companies in e-commerce are Amazon and eBay, which mainly deal with a wide selection of products including books, electronics, music, and office supplies. Although the development of e-commerce has been gradual, the outcome has been tremendous with leading companies reaping significant profits from the venture. Most businesspersons and shoppers have adopted this trend because it is convenient and favourable. The number of online stores increases daily and so does the number of online shoppers. E-commerce has continually powered the social, intellectual and financial aspects, and it is evident that its future is promising. It is predictable that everybody will be shopping, selling, and conducting any other form of online business, in the next 15 years.
Electronic commerce is preferred over the conventional trading platform because it has a wider global reach, and it is favourable to all people in all corners of the world. It is available in all segments of the market where it serves a vital role in linking businesses to consumers, consumers to businesses, consumers to consumers and businesses to businesses. New businesses can establish their market presence and the existing ones can improve their positions because the model operates both online and physical stores. The model offers them the opportunity to showcase their products in a cheaper and more convenient way to a larger group of consumers globally. E-commerce stores offer a wider variety of goods and services, which consumers could otherwise not access in brick and mortar stores locally.
Conversely, e-commerce also has its downside. The customer service options are limited because customers lack an assistant to help them choose the best product to buy, for example, where there are various brands of a commodity. There is also no instant appreciation or gratification of the purchased product because the customer has to wait for a given period before arrival of the product at the designated destination. Online products may be deceptive because the images may be different from the real products, which may disappoint the customer on receipt of the ordered commodities. Additionally, the customer lacks the opportunity to scrutinize the product properly because they cannot touch or see it until it is delivered.
Although the history of e-commerce is short, the future is certainly bright. The Internet has revolut...