THE RISE OF THE INTERNET has led to the rise of e-commerce as more and more people exchange goods and services all over the world via the Internet. e-Commerce has been fueled by consumer-driven transactions, also known as (B2C) marketing. In addition, B2B marketing or “business-to-business” marketing has led to the rapid rise of e-commerce. It is worth noting that many startups are increasingly becoming more involved with, and centered on, e-commerce. This has led to various traditional retailers setting up commerce websites so as to regain the market share. It is worth noting that consumer electronics and travel services account for a large percentage of e-commerce.
There are various factors that can be attributed to the rise of e-commerce. For starters, lack of online taxation has led to the rise of e-commerce in a big way. Many products and services sold online are not taxed. To this effect, growth is not financially impaired. This, in effect, has led to the boom of online transactions. Another factor leading to the rise of e-commerce is the different types of retailers available. Some of these retailers include “click-and-mortar” retailers and differentiation retailers. Many online retailers have come up with convenient interfaces, low prices, and subsequent customer satisfaction. Thirdly, the increased rates of Internet penetration in emerging markets have led to the rise of e-commerce.
There are a number of factors that have led to the increased penetration of the Internet. Some of these factors include expanded bandwidth, low surfing charges, and IT development, among others. Emerging markets are also embracing IT, thus leading to the rise of e-commerce. There are different aspects of the economy that are benefiting from the rise of e-commerce. Online travel services, for example, have benefited in a big way. This is due to the fact that customers can conveniently book their hotel rooms, airline seats, rental cars, vacations, and cruises, among others. Moreover, e-commerce has also ensured that individuals can also access different types of packages easily. Conversely, online retailers have also benefitted from e-commerce.
Consumer electronics companies have also benefited in a big way from e-commerce. The online presence of these companies has increased the visibility and availability of consumer electronic goods. Moreover, a consumer can buy these products online. Financial transactional services, e.g. PayPal, have benefited from e-commerce as well. This is due to the fact that the companies get a percentage of the money from online financial transactions. As individuals around the world buy various goods, shipping companies are benefiting from these transactions as a result of shipping fees charged.
Companies vending e-commerce software are also benefiting from this boom. This can be attributed to the fact that businesses are increasingly using this software to ensure that transactions are carried out smoothly. The demand for integrated software is set to increase as internet traffic accelerates. e-Commerce software entails a number of features, among them fulfillment or shipment, webhosting and marketing (SEO). On the other hand, traditional retailers and direct retail marketers are set to lose from this boom.