Essay on The Internet and the Power of E-Commerce

The Power of E-Commerce The Industrial Revolution changed the face of the business world. In much the same way the Internet Revolution has changed the business world; its impact has ricocheted to every corner of the world. The internet revolution gave birth to an electronic economy. Ecommerce has seen tremendous growth in the last years, its effects are countless. Ecommerce has allowed for the expansion and proliferation of a globalized economy, it has made transactions easier and more efficient, it has benefited the consumer by passing on tremendous savings and it offers little or no barriers thus allowing anyone to participate and benefit. Globalization The internet is a globalization tool because once anything is online it†¦show more content†¦EBay is versatile and can meet everyones needs. EBay is just one of the many examples of ecommerce success. Another success story is Amazon.com, which dominates internet sales and has quickly become the biggest and most trusted online outlet. Though it was originally developed as an online bookstore it has developed to become an online department store. Amazon.com was launched in 1997 and in 1998 it surpassed $1 Billion in sales (Weisman), its growth has been overwhelming through the years but though it posted high revenues it did not report profit until 2002, five years after launching (CNN Money). Amazons success is in part due to its brand building strategy along with its world domination strategy. Although revenue was always constant from the beginning the company spent more money then they made trying to grow the business, increasing existing operations and expanding into new ma rkets (Wired News). It is this brand building and global domination that has put Amazon.com on the map and has made it a trusted name. E-Retailing Business to Business ecommerce (B2B) is the most profitable division of ecommerce (Enos). B2B commerce is the practice of businesses selling to other businesses (Brain). Suppliers who supply stores, manufacturers who provide to suppliers, all the transactions and processes that need to happen before products get to consumers (Traver). Although not the most profitable aspect of ecommerce Business to Consumer ecommerce (B2C) is theShow MoreRelatedFuture Of E Commerce : A Process Of Buying And Selling Of Goods And Services On The Internet938 Words   |  4 PagesFuture of E-Commerce E-commerce is a process of buying and selling of goods and services on the internet through electronic transactions (Bartholome, 2002). These transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. E-Commerce is swiftly growing throughout the years with the development in Internet and innovation. The gigantic development of virtual groups - individuals getting together in ad hoc groups online - guarantees to alter theRead MoreDestination Management Companies ( Dmc ) Essay1177 Words   |  5 Pages 2009; Wen, 2012). 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