The advent of the internet technologies and the possibilities of interaction in the virtual world have resulted in the World Wide
Web becoming the main commercial street of the world. The booming of the e-commerce concept is largely owing to the possibility as well as convenience of exchanging goods and
services, locally, regionally and also globally. With more than half the population of all the developed countries of the world having internet access, the possibility of selling all kinds of things on the internet is a fabulous idea. And the term used for the same is Electronic Commerce or E-Commerce.
Electronic commerce is also sometimes referred to as e-business
and entails the buying and selling of services and goods. However, the thing that sets it apart from the physical marketplace is the fact that this is done over an electronic system, namely the Internet. The rapidly increasing usage of the internet as well as the development in the technology has ensured increased adaptability of the system. This has led to an ever-increasing trend in internet usage. Consequently, e-commerce has been booming for the past few years.
E-commerce is also not just restricted to buying of goods and services online. It entails services like supply chain management, internet marketing, electronic funds transfer, automated data collection systems, electronic data interchange (EDI) and online transaction processing.
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