Electronic commerce is commonly known as Ecommerce. It is a system where buying and selling of product or any service is made electronically through Internet or other computing networks. Ecommerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, inventory management systems.
E-commerce businesses may employ some or all of the following:
Online shopping web sites for retail sales direct to consumers
Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales
Business-to-business buying and selling
Gathering and using demographic data through web contacts and social media
Business-to-business electronic data interchange
Marketing to prospective and established customers by e-mail or fax (for example, with newsletters)
Engaging in pretail for launching new products and services
Online financial exchanges for currency exchanges or trading purposes
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