What is E-commerce?

C2C

consumers are given a venue to trade among themselves; people can negotiate and haggle but the highest bidder gets the product

m-commerce

e-commerce to go; carried out through a portable device instead of a stationary computer

development of Facebook (2003)

eighth event in e-commerce timeline

B2B

electronic trade between companies primarily responsible for keeping the supply chain intact

group buying (wholesale), social commerce, private sample sale

emerging trends in e-commerce

online auctions

empower everybody to participate and benefit; tools and facilities are already in place

e-commerce

exchange of goods and services that take place between or among businesses conducted over computer networks

Dell was the first company to reach $1M in internet sales (1997)

fifth event in e-commerce timeline

group buying (collective buying)

prices are reduced when a minimum number of buyers make the purchase; gives retail shoppers the benefit of buying wholesale by affording them at discounted prices

introduction of Minitel (1982)

second event in e-commerce timeline

PayPal was acquired by eBay (2002)

seventh event in e-commerce timeline

development of Google (1998)

sixth event in e-commerce timeline

Groupon rejected a $6B acquisition offer from Google (2010)

tenth event in e-commerce timeline

sample sale

the selling of sample merchandise—luxury goods, usually—at bargain prices before they are distributed to local vendors

birth of world wide web (1990)

third event in e-commerce timeline

online shopping

buying and selling goods on the internet; also electronic retailing or e-tailing

social commerce

collaborative tools in social networking sites are provided so customers can help one another in generating product reviews and referrals

product, automated system (for accepting payment), shipment system, customer service

components of an online store

C2B

consumers are empowered to demand specific goods and services from an online business

development of Videotex (1979)

first event in e-commerce timeline

B2B (business to business), B2C (business to consumer), C2B (consumer to business), C2C (consumer to consumer)

four business models of e-commerce

launching of Amazon (1995)

fourth event in e-commerce timeline

electronic payments

gateways that process payments of purchased goods

P2P (peer to peer)

illegal transaction that allows computer terminals in a network to hook up without having to go to a central server; free exchange of data

private sample sale

membership-only onine shops offer sample sales that usually run for 36 to 48 hours

internet banking

monitor accounts, transfer funds, pay bills, fill loan requests, download statements and forms, enroll in investment programs, and conduct other financial transactions online

Google bought YouTube (2006)

ninth event in e-commerce timeline

online shopping, electronic payments, online auctions, internet banking, online booking and ticketing

online business applications

B2C

online businesses sell goods and services to the general public through a line of shops