Ecommerce helps individuals and organizations to attain improved business and marketing strategies for high productivity and profitability.

Ecommerce, "electronic commerce", has changed over the last 30 years. Originally, "electronic commerce" meant the facilitation of commercial transactions electronically, usually using technology like Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT), where both were introduced in the late 1970s, for example, to send commercial documents like purchase orders or invoices electronically.

Ecommerce, or Electric Commerce, is one of the most important aspects of the internet to emerge. It allows people to exchange goods and services immediately and with no barriers of time or distance. Any time of the day or night, you can go online and buy almost anything you want.

The e-business concept goes well beyond e-commerce (buying and selling on-line) as it also encompasses the integration of ICT into business processes of enterprises. In this context managerial innovation and entrepreneurial spirit are as important as technological breakthroughs. The related policy challenge is therefore to help European enterprises, notably SMEs, to adapt themselves to structural changes, such as those fostered by the diffusion and pervasiveness of new technologies. It implies legal, technological, business and human challenges. EU main policy challenges are now to improve the managerial understanding of e-business and the availability of e-business solutions, as well as to promote networking and co-operation initiatives.

Importance of Ecommerce...

Perhaps the clearest indication of the growing importance of e-commerce in the global economy is the rapidity with which Internet use has grown and spread during the last decade. The boom in e-commerce also includes increased use of other media for trade, such as the telephone, television, fax, and electronic payment. Because e-commerce became such an integral part of the global economy, the WTO has begun to consider how it fits into the multilateral trade framework, and what rules or regulations should apply.

Ecommerce Trends...

The increase and penetration of online use in the US increases the potential market size for E-Commerce on an annual basis. A large share of the expected growth in Internet commerce can be attributed to the increase in the online population:
U.S. online population estimated to increase nearly 50%, from 141.5 million in 2001 to 210.8 million by 2006 (CAGR of 8.2%).

U.S. online retail sales will grow from $47.8 billion in 2002 to an estimated $130.3 billion in 2006 (see Figure 1 below). There are 2.3 million small companies in the U.S.; with 16% of these in the retail trade and 60% of all small companies have an online presence – potential market size for our service is upwards of 200,000 companies.
Annual spending per buyer will increase from $457 in 2001 to $784 in 2006.

About Our Mastermoves Ecommerce...

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