Published by MBA Skool Team, Last Updated: April 30, 2013
What is E-commerce?
E commerce is basically a type of industry where buying and selling of a product or a service is conducted over the Internet. It is evolving as one of the major distribution channel for many companies, especially FMCG. Although it is still in its budding phase in India, the rate by which it has grown in last decade is huge. The number of households with internet connection has increased tremendously. Now-a-days almost everyone has an internet connection at their home which makes it much easier and convenient for them to do online shopping. Other reasons of success of e-commerce are:
The ease of shopping without physically going to a shopping store
The ease of comparing prices of different products
Availability of discounts on MRP due to cut-thought competition between online selling sites
Option of COD (Cash on Delivery), especially required for Indian consumer
Free delivery (above certain purchase value) and hassle free return policies
Increased confidence of people on such sites
Due to presence of a multitude of ecommerce sites, proper marketing is required for success. Following are the few ecommerce marketing strategies.
Sending Emails promoting and informing customers
Using social media like Facebook, Twitter to promote the site
Search Engine Optimization, through which popular search engines like Google search could easily find and display the site.
Hence, this concludes the definition of E-commerce along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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