Electronic commerce

Electronic commerce is a term used for any market transactions enabled by information technology via electronic network or internet. Introduction of e-commerce reduced friction in business transaction, improved quality of service and customer care and lowered the product cost for the consumers. There are four categories in e-commerce. They are business to business, business to consumer, consumer to business and consumer to consumer. A new category emerged recently is business to government. In business to business e-commerce, we require two or more business partners interacting with each other either directly or indirectly through brokers. Here inter-organizational interaction gets boost. Business to consumer e-commerce offers consumer the freedom to select and buy from a variety of products at attractive prices online. In consumer to business e-commerce, consumer can determine the product price. Consumer to consumer e-commerce allows a consumer to trade his product to another consumer through internet.