What is E-Commerce? That is the Question

WIHAT IS [-COMMIRCE? We can buy almost anything online nowadays, and the multi-billion-dollar e-commerce industry is a part of our everyday lives, but many don't understand the numbers and history behind this industry. Learn about the current state of e-commerce and take a look at its future. E-COMMERCE AKA Electronic Commerce The Official Spelling Strictly correct: "e-commerce" E-COMMERCE "E" words should be written with a hyphen ELECTRONIC An Official Definition Buying and selling of product or service by businesses and consumers through electronic systems, without using any paper documents Proper usage "E-commerce" at the beginning of a sentence "E-COMMERCE in heading with title-style capitalization E-COMMERCE Classifications B2B B2C (BUSINESS TO BUSINESS) (BUSINESS TO CONSUMER) Commerce Between Companies Commerce Between Companies and Consumers Manufacturing and merchant wholesale Online retailing and selected services 24 $ 2$ $3,705 BILLION $169 BILLION Sales totaled in 2010 Sales totaled in 2010 EXAMPLES BARNES&NOBLE About 80% drugstore- of e-commerce amazon EXAMPLES Target.com IBM hp C2B C2C DELL . CISCO [CONSUMER TO BUSINESS) Commerce Between Companies and Consumers [CONSUMER TO CONSUMER) Commerce Between Consumers Consumers to determine price of product or service EXAMPLES priceline.com Elance Bid for what consumers want from among multiple suppliers EXAMPLES craigslist a amazon half.com The Advantages of E-COMMERCE Reach out to more consumers Low operational costs with better quality of services No geographic and time limitations Faster buying and selling procedure Easy to start and manage the business Find quality products at cheaper prices Convenient and time-saving Brief History of E-COMMERCE Shop.org introduces term "Cyber Monday" Payment Card Industry Security Standards Council meets for the first time PayPal acquired by eBay for $1.5 billion Apple becomes most valuable public company ever at $665.12 per share 1st commercial account on Twitter is Earnest Sewn Creation of: Dell has single-day sales of $1 million - almost exclusively from online sales Amazon Tim Berners-Lee creates first Www server and browser eBay Craigslist Dot-com bust Business.com acquired by R.H. Donnelly for $345 million 1979 1989 1994 1999 2004 2009 2012 Zappos.com acquired by Amazon.com for $928 million 3 online sales tax bills before Congress Michael Aldrich invents online shopping Peapod becomes the first online grocery Paypal launches online payment method Swreg creates the first online merchant account for selling software CAN-SPAM Act establishes Amazon.com marks first Walmart buys Kosmix for $300 million Pizza Hut offers email marketing requirements online ordering yearly profit Where is E-COMMERCE Today? 85% E-commerce sales by regions 34% Europe More than 85% of the world's 29% online population has used the Internet to make purchase 27% US Asia and Pacific 60% 10% 60% of global online consumers used their credit card for a recent online purchase Other parts of world In 2010, UK had the largest e-commerce market in the world when measured by amount spent 41% per capita Ш 41% of books are purchased online 73% Worth £100 billion to UK economy 73% of consumers More than 7% of national income prefer Internet shopping Outlook for the FUTURE ONLINE RETAIL $1.4 $4.2 TRILLION TRILLION %24 BY 2015 BY 2021 Globally: will grow to $1.4 trillion industry Globally: will grow to $4.2 trillion industry IN US, will grow to $325.2 billion at 13.7% growth each year 14.7% IN CHINA $320 billion expected increase in electronic online sales e-commerce market worth IN THE PAST 5 YEARS SOURCES http://export.gov/sellingonline/eg_main_020761.asp http://uis.georgetown.edu/styleguide/SpellinganduseofTechnolgyWordsl.html#E http://ganga.iml.ac.in/-bhasker/ec/lect-2.PDF http://www.icommercepage.com/advantages-of-e-commerce.htmlhttp://www.guardian.co.uk/technology/2010/oct/28/net-worth-100bn-uk http://www.marketingcharts.com/direct/875mm-consumers-have-shopped-online-up-40-in-two-years-3225/ http://www.lookatbigcommerce.com/what-will-e-commerce-online-look-like-in-10-years-from-now/ http://www.emarketer.com/newsroom/index.php/apparel-drives-retail-ecommerce-sales-growth/