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E-commerce is a transaction of buying or selling online. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
Modern electronic commerce typically uses the Internet for at least one part of the transaction’s life cycle although it may also use other technologies such as e-mail.
With the existence of e-commerce, it brings convenience for customers as they do not have to leave home and only need to browse website online, especially for buying the products which are not sold in nearby shops.
It could help customers buy wider range of products and save customers’ time. Then, the online shopping often provides sales promotion or discounts code, thus it is more price effective for customers.
Moreover, e-commerce provides products’ detailed information; even the in-store staff cannot offer such detailed explanation. Customers can also review and track the order history online.
The contemporary e-commerce trend recommends companies to shift the traditional business model where focus on “standardised products, homogeneous market and long product life cycle” to the new business model where focus on “varied and customised products”.
E-commerce requires the company to have the ability to satisfy multiple needs of different customers and provide them with wider range of products. With more choices of products, the information of products for customers to select and meet their needs become crucial.
There are 3 main ways of recommendations: recommending products to customers directly, providing detailed products’ information and showing other buyers’ opinions or critiques. It is benefit for consumer experience without physical shopping.