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- 1. E-COMMERCE Prepared by: Sayed Ezatullah Mohammad Adeeb Naweed Rahimi Hashmatullah
- 2. Learning objectives • What is E-Commerce? • History of E-Commerce. • What is the earliest form of E- Commerce? • When was E-Commerce started? • Who invented E-Commerce? • Who uses E-Commerce? • Steps in setting up business over the internet • What are activities of E-Commerce? • The best E-Commerce businesses in 2021
- 4. What is E-Commerce? • E-Commerce in full electronic commerce, maintaining relationships and collecting business transactions that include selling information, services and goods by means od computer telecommunication networks. • Or: E-Commerce refers only to the trading of goods and services over the internet.
- 6. • E-Commerce originated in a standard for the exchange of business documents, such as orders or invoices between suppliers and their business customers. • Those origins date to the 1948-1949 • Various industries elaborated upon that system in the ensuring decades before the first general standard was published in 1976.
- 7. What is the earliest form of E-Commerce? • C2C • ( consumer to consumer is one of the earliest form of E-Commerce ) • Consumer to consumer E-Commerce relates to the sales of products or services between customers. This include C2C selling relationships, such as those seen on eBay or Amazon.
- 8. When was E-Commerce started? • In May 1989, Sequoia Data corps, introduced compumarket, the first internet based system for E-Commerce. • Sellers and buyers could post items for sale and buyers could search the database and make purchases with a credit card
- 9. Who invented E-Commerce? Michael Aldrich ( 22 August 1941- 19 May 2014) was an English inventor, innovator and entrepreneur. In 1979 he invented online shopping to enable online transaction processing between consumers and businesses, or between business and another, a technique know later as E-Commerce.
- 10. Who use E-Commerce? • Since E-Commerce has evolved to make products easier to discover and purchase through online retailers and marketplace, independent freelancers, small businesses, and large corporations have all benefited from E-Commerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail. Global retail E-Commerce sales are projected to reach $27 trillion by 2020.
- 12. 1. Assess the viability of your new business idea. • Being easier to start an online business doesn’t mean no costs are involved. • The first step to take with your online business is to assess your ideas feasibilities. • Brilliant business ideas can be unsuccessful if your product or service has no market. 2. Develop a business plan. • When idea is feasible, it is time to put together a comprehensive business plan. • Even If NOT plan on obtaining funding for business, having a business plan is valuable because it lets spot any potential bumps down the road and plan for future growth and profitability. 3. Choose a business name. • Choosing business name is an important step in the startup process. • Business will primarily function online. Chosen name must be available for registration as a business name in state and within the digital space.
- 13. 4. Decide on your business structure. • The business structure you choose will dictate the legal and tax requirements. • Most small business owners choose from the following structures: Sole proprietorship Partnership Limited liability company Corporation 5. Take care of all the legal tasks. • Need to file all the appropriate business formation documents and other paperwork to ensure you new business has a solid legal foundation. 6. Build your website and choose your sourcing and fulfilment methods. • An online business website is as important as the physical location • Put as much care into this part of the startup process as you would if you were location and lease shopping.
- 14. 7. Develop and implement marketing strategies. • Important to market on online business while you were working on each previous steps. • Business plan will have provided information you need to develop affective marketing strategies for your potential market. • No matter what strategies you go with, it is important not to skimp on implementation. 8. Launch your new business. • Actually a physical business will be doing so metaphorically BUT when we make our website live and announce to the world it means we are open for business.
- 16. The best E-commerce businesses in 2022 • Less than a generation ago, e-commerce was in its fantasy, born on the world wide web as a vision of entrepreneurs such as Jeff Bezos. • Today, e-commerce accounts for almost $1 dollar in annual retail sales in the U.S., or 13% of the total retail industry. • Globally, its $5 trillion, led by companies such as Amazon, china’s Alibaba group.
- 17. Top E-commerce companies by market value in 2022