Report of Electronic Commerce Essay Example | Topics and Well Written Essays - 1000 words

Report of Electronic Commerce - Essay ExampleA conclusion will and then summarise the findings and present the final thought.E-commerce is buying and selling of goods and services online, usually through the network (Information outline Audit and Control Association, 2006, p.218 - 222). Global electronic commerce revenue for 2000 was in the region of $286 billion a figure which was expected to increase to $500 billion in 2001 and to $3 trillion by 2004. According to synergistic Media in Retail Group (IMRG), an industry body for electronic retailing, British online retail gross sales uprise by more than 60% from a year earlier in June 2006, totaling 2.26bn that month. British online retail sales totaled 13.5bn in the first half of 2006, according to IMRG (Global Technology Forum, 2006). This rapid increase reflects the fact that electronic commerce has a number of advantages over paper-based commerce in particular, speed and reducing the cost of doing business.E-commerce allows organisations to execute to a wider range of audience than what a traditional brick-and-mortar shop squeeze out ever do. With e-commerce, companies can serve well globally. The entire world becomes the target market depending on the type of business. For a book store resembling Glasgow Books, this presents an opportunity to extend to not only in Glasgow but throughout Scotland and perhaps in other(a) parts of Europe as well, with passage of time.AvailabilityAn online shop is open 24 hours a day, 7 days a week and 365 days a year. The customers can read about the books, and can hit transactions any time they like, through the comfort of their homes, without having to physically come to the shop for making purchases. deplorable CostsIn the long run, technology costs to establish an online book store is much lesser than what it must spend to maintain a physical store. The cost of advertising and marketing over the internet is minimal.Customer Relationship ManagementE-Commerce sol utions provide an effective way to keep in contact with customers, indicate customers likes and dislikes, and develop a targeted marketing campaign as per the customers tastes and wants. For example, Glasgow Books, by using an e-commerce system, can keep records of customers preferences for books and can contact customers as and when new editions and/ or new books relating to that particular subject arrive. Accurate Armour, a manufacturing business of military models, developed their website in 2003 when