What are the characteristics of e-commerce technology? Electronic commerce is the process of doing business and buying and selling products and services over the Internet, also known as Internet commerce, and is a very broad term used for sites that facilitate the exchange of products online. It encompasses a very wide variety of online transactions that use the Internet as their primary medium. Some of them include the payment process such as credit card transactions, which involve setting up and maintaining merchant accounts and credit card machines; electronic mail, in which there is transmission of electronic mails from one user to another and reception of documents by the recipient; and electronic data transfer, which refers to the transfer of information or data from one source to another using the Internet.
These forms of e-commerce technology allow people from all walks of life to have their own businesses and generate income for themselves. Electronic commerce is totally different from traditional commerce. Traditional commerce involves a physical store where goods are bought and sold, while e-commerce technology allows a whole world of users to do business using online tools such as websites.
However, this technology has provided more than just opportunities for small operators. Electronic commerce has become an incredibly flexible system. This is especially evident in the case of web applications, which have literally come to life. For example, the iPad has thousands of apps that help consumers do everything from checking their bank account balances to keeping track of their daily schedule to finding local restaurants. The developers behind these apps are creating innovative new apps that allow users to perform tasks in ways they never thought possible before.
Another feature of e-commerce technology is its integration of personalization. Ecommerce sites provide consumers with the ability to personalize their shopping experience by adding personalized elements such as photos, videos, coupons, and vouchers to their transactions. By doing this, consumers can completely personalize their experience and enable them to make purchases more suited to their needs. Mobile apps and software are particularly popular because they allow consumers to access these apps from anywhere.
ArteWork, a London-based developer, is an example of integrating personalization and e-commerce technology. ArteWork uses an open source platform called the Stratis Platform to allow retailers to build their own e-commerce stores wherever they are, with the only restriction being that they must have a smartphone that connects to the internet. This gives consumers the ability to shop anytime, anywhere. It also offers traders the ability to target specific markets. This contrasts with the way many stores operate in developed countries, where consumers can only shop on designated days of the week.
Another example of e-commerce technology that can change the way retailing is done is its impact on mobile commerce and social media. Mobile payments, faster and more convenient than credit cards, have made online sales impossible to ignore, and with the increase in smartphone users in particular, this has become much more the case. In fact, it is estimated that online sales could exceed physical sales by 2021. Through its integration with Stratis, an online store can create its own virtual marketplace where consumers can buy and browse products, and retailers only need to provide access to their websites. Additionally, through increased interaction, online stores can retain users by encouraging consumers to buy more from them over time.