E-Commerce: An Empirical Study

Abstract

E-commerce or electronic commerce is the buying and selling of goods or services on the internet. It encompasses a wide variety of data, systems and tools for online buyers and sellers, including mobile shopping and online payment encryption. Most businesses with an online presence use an online store and platform to conduct e-commerce marketing and sales activities and to oversee logistics and fulfillment. Global retail e-commerce sales are expected to surpass US$5 trillion for the first time, accounting for more than a fifth of overall retail sales, and by 2025, total spending will exceed US$7 trillion, despite slowing growth. E-commerce also known as e-business or electronic business, is simply the sale and purchase of services and goods over an electronic medium, like the Internet. It also involves electronically transferring data and funds between two or more parties. E-commerce started way back in the 1960s when organizations began to use electronic data interchange. Today, e-commerce has become an integral part of everyday life. Accessibility to an e-commerce platform is not a privilege but rather a necessity for people, particularly those from urban areas. Due to the fast adoption of internet-enabled devices like smartphones and tablets, there has been an unparalleled growth in e-commerce. The growth of e-commerce volumes in India is attracting the attention of players around the globe. The present study is descriptive in nature and is based on secondary data. The study found that e-commerce sites run quickly, determined by computer and bandwidth considerations on both consumer device and e-commerce site. The study also found that an e-commerce transaction can comprise of a few clicks and take less than few minutes.