Chapter 1 Flashcards
s defined as the exchange of goods and
services between two or more entities physically.
Commerce
Refers to business transactions or information exchange, as
well as buying and selling products from person to person
Traditional Commerce
Traditional street-side business that offers goods and services to its
customers face-to-face in an office or store that the business owns
or rents. The local grocery store and the corner bank are examples of
brick-and-mortar companies.
Brick and Mortar
companies and individuals that buy and sell goods and services over the
internet using technology such as Electronic Data Interchange (EDI) and
Electronic Funds Transfer (EFT).
E-Commerce
includes buying and selling goods and
services online.
Digital Commerce
is the act or process of selling products via an internet or
mobile app, auction site, online classified advertisement, online shop,
social networking, social media or web shop.
Online Selling
is the structured
transmission of data between organizations by electronic
means. It is used to transfer electronic documents or business
data from one computer system to another computer system.
Electronic Data Interchange (EDI)
is the electronic exchange
or transfer of money from one account to another.
Electronic Funds Transfer (EFT)
refers to any business
that applies internet technologies in
its operation. Conducting all
business OPERATIONS USING DIGITAL
TECHNOLOGY.
E-business
– Electronic Data Interchange (EDI) was developed, allowing
businesses to exchange documents electronically.
1960s
– Michael Aldrich built the first online shopping platform using
videotex. Modified TV set hooked to a telephone line. The platform failed
1979
– Boston Computer Exchange became the first online
marketplace, selling used computers. They used minitel.
1982
– Tim Berners-Lee invented the World Wide Web, paving the way
for e-commerce websites.
1989
– The Internet became publicly available, enabling online
transactions.
1991
– Netscape introduced SSL encryption, securing online payments.
1994
– Amazon and eBay were launched, revolutionizing online retail
and auctions.
1995
– PayPal was founded, making online payments more secure and
convenient.
1998
– Alibaba launched, becoming a major B2B e-commerce platform.
1999
– Alibaba launched, becoming a major B2B e-commerce platform
1999
– The dot-com bubble burst, but strong e-commerce players
survived.
2000
– Amazon Prime was introduced, offering fast shipping and
boosting online shopping.
2005
– Apple App Store launched, paving the way for mobile commerce
(m-commerce).
2008
– Bitcoin was introduced, opening possibilities for cryptocurrency
transactions.
2009
– Instagram and Pinterest launched, influencing online shopping
trends.
2010
– Google Wallet launched, enhancing digital payments
2011
– Amazon launched Alexa, integrating AI into shopping
experiences.
2015
– Shopify grew, enabling businesses to set up online stores easily.
2016
– TikTok gained popularity, later influencing social commerce.
2018
• – The COVID-19 pandemic accelerated online shopping, with grocery
delivery and e-learning surging
2020
– Live streaming e-commerce became a major trend in China and expanded
globally
2021
– Metaverse shopping and AI-powered recommendations gained traction.
2022
– Metaverse shopping and AI-powered recommendations gained traction.
2022
– TikTok Shop and social commerce grew significantly, changing how people
shop online.
2023
– Trends like voice commerce, drone deliveries, AI-driven
personalization, and blockchain-based transactions continue to shape the future
of e-commerce.
2024 & Beyond
refers to electronic
trade that takes place between
companies.
B2B e-commerce
is the simplest and most
recognizable form of e-commerce.
Direct trade between companies and
consumers.
B2C
business model where individuals
(consumers) create value that
businesses consume.
C2B
consumers are given a venue to
trade among themselves. It is not
required to set up a proper business to
sell.
C2C
decentralized exchange of goods, services, or information
directly between individuals, without the involvement of a
central authority or business intermediary. Often facilitated by
digital platforms that connect users.
P2P
refers to the process of selling goods and services over the
internet. It is a major component of e-commerce and allows
businesses to reach customers digitally rather than through physical
stores.
E-Tailing
Businesses sell products through platforms like Shopee, Lazada,
TikTok Shop, etc.
ONLINE MARKET PLACES & STORES
E-commerce cannot work if there is no mechanism for making and
accepting payments.
ELECTRONIC PAYMENTS
Buying, selling, and conducting financial transactions through mobile
devices like smartphones and tablets.
MOBILE COMMERCE (M-COMMERCE)
is an order fulfillment method where the seller does
not keep inventory.
Dropshipping
handle inventory storage, packing, and shipping
on behalf of e-commerce businesses.
Fulfillment Services
refers to promoting goods or services using online
channels, while customer engagement focuses on building
relationships with customers to increase loyalty and sales.
Digital marketing
BENEFITS OF E-COMMERCE
Global Reach
Data-Driven Decisions
Lower Costs
24/7 Availability
APPLICATION OF E-COMMERCE
IN BUSINESS
1.)ONLINE MARKET PLACES & STORES
2.) ELECTRONIC PAYMENTS
3.) MOBILE COMMERCE (M-COMMERCE)
4.) DROPSHIPPING & FULFILLMENT SERVICES5.
5.)DIGITAL MARKETING & CUSTOMER ENGAGEMENT
BUSINESS MODELS
B2B
B2C
C2B
C2C
P2P
