A Timely Question, What is the E-commerce Definition?
The current economic recession has many people thinking about ways to make money on the internet through e-commerce or aka electronic commerce.
What is the e-commerce definition? Basically e-commerce encompasses any product or service that is sold over the internet. Amazon, for example, is a popular example of a business that epitomizes the definition of e-commerce. It is important to note that as technology changes, the e-commerce definition changes as well to accommodate the growing trends. For example, products and services bought or sold on mobile phones would also fall under the umbrella of e-commerce. One would open up an online e-commerce store to promote their products to millions of hungry consumers shopping online.
While most people think about selling traditional products or services, such as marketing their small business, providing virtual assistance services, or selling books, some people will engage in more creative uses of e-commerce like affiliate marketing or generating ad revenue.
E-commerce definition – as well as the product and services involved
Let’s cut to the chase here – the e-commerce definition is also called electronic commerce, the way of making any financial transactions through the internet. In simpler terms, the definition of e-commerce is using the net to purchase or sell almost anything one can possibly find. But what else do we need to know about this electronic method of transactions? Here are some examples.
Since we live in the modern era when computers and smart phones rule the masses, it is for certain that e-commerce has been present. To begin with, there’s the ever presence of online stores serving their own products and services online. In some cases of inconvenience, these web stores are a saving grace to anyone wishing to pay for the offered products using the net.
Another major example of the e-commerce definition is online bill payments sites. Using the net to pay for bills such as cable, telephone, and electricity is a great way of demonstrating e-commerce. Paying for cell phone plans can also be done through the internet – another way of doing e-commerce. Then there’s the possibility of selling new and used items through the internet, as the web is an accessible marketplace to offer one seller’s apparel, appliances, and accessories. Once again, that’s another example of e-commerce.
Okay, so maybe this article is getting off-the-point, since we’re taking about the e-commerce definition. Luckily, Wikipedia is around to provide an extensive reference to this term. According to the venerable website, the e-commerce definition is purchasing and selling any product or service using any electronic system, most especially transacting through the internet.
But wait – this term shouldn’t be limited to just buying and selling. No, Wikipedia added a reference concerning electronic commerce used for any of the following concerning products and services:
- Development
- Delivery
- Marketing
- Servicing
- Payments
Well, that apparently covers the definition of e-commerce for now, but what exactly can e-commerce be used for? Of course, we can get the clear picture based on the definition of this compound word; but “products and services” seem very vague to you, doesn’t it? Alright, here are the possible categories of products and services transacted through e-commerce. From online media down to the bill payments, here are the possible uses of electronic commerce:
E-commerce Definition: More e-commerce types
Online goods and services (Self-explanatory; any tangible product or service used in between computers or operating systems). Open an online store.
Streaming media:Acquisition of media files (read: movies, music, and photos) through file-sharing sites and media stores is a service primarily done through e-commerce.
Electronic books: Soft-copy versions of paperback novels and textbooks can be purchased through dedicated online bookstores offering these electronic books – a transaction done the online way. This is an example of a well known affiliate marketing product that can get you started in the world of e-commerce. These guys over deliver and this course will definitely teach you how to make money online. Just click here to get started .
Software: Software ranging from games to word-processing programs can also be purchased through e-commerce.
Retail services (These services are usually done in brick-and-mortar stores, but can also be done through the internet)
Banking: Balance inquiries, cash transfers, bills payments, and other banking services can be transacted through the use of a computer and internet connection.
Food ordering: Food chains and top-tier restaurants offer food delivery through online orders from their dedicated company websites.
Online flower delivery: From roses for Valentine’s Day to wreathe for funerals, flower shops allow themselves to deliver any bouquet once any customer makes an online order.
DVD-by-mail: DVD companies give in to the convenient method of letting movie watchers get their copies of their favourite movies using e-commerce – or should we say, online ordering?
Travel: Hotel reservations, airline bookings, tour bookings, and such others can be done through online systems provided by various travel agencies and other companies.
Marketing services (In line with the definition of e-commerce, this section is where purchasing, selling, advertising, and marketing products or services take place, as online stores and trading sites offer these mentioned items and others.)
Trading communities: These so-called communities serve to allow any item to be bought or sold from one person to another. At this time of writing, there are a plethora of these trading sites offering their wares to the consumers.
Auctions: Unlike trading communities and their ability to set their products at the prices they choose, auction sites allow bidders to set their own price to any given product. But just like any auction, bidders outbidding each other can also be done through e-commerce definition.
There are other products and services accessible through e-commerce, with services such as advertising and price-comparison. The bottom line of this section is that the definition of e-commerce caters to almost any product or service one can ever imagine.
Once again, the e-commerce definition is the method of buying and selling any product or service through the internet.