Now-a- days e-commerce is growing popular in an emerging economy,
we are living in exciting times, where digital items are becoming smarter and
advance day after day. E-commerce brings forth a tougher business competition,
leads to creation of new marketplaces, faster transactions, and rapid growth in
technologies. E-commerce can be generally understood as a system or a method of
conducting business through electronic media rather than through conventional
physical way. E-commerce is defined as, “the use of electronic transmission
medium to engage in exchange, including buying and selling of products and
services requiring transportation, either physically or digitally, from
location to location. Today the number of internet users in the world is close
to 3 billion, out of this, India has a total of 259.14 million internet and
broadband subscribers. This penetration of internet coupled with the increasing
confidence of the internet users to purchase on line. This leads to an enormous
growth in the E-commerce space, with an increasing number of customers
registering on E-commerce websites and purchasing products through the use of
mobile phones. India is in a prime position for the growth and development of
the E-commerce sector.
Ecommerce is internet based commerce which is
all about click and buy. In the knowledge industry, E-commerce can be
considered as new and effective phenomena in existing time period. Bentrum
(2002) states that ecommerce can be defined as the process in which different
crucial online business transactions are performed in which transfer of funds
takes place among seller of the commodity and its buyers. In support of this,
Zhao (2006) has explained that the concept of ecommerce has offered several
advantages to the vendors as they can find search engines without the
advertising campaigns. Also it allows the sellers to indentify needs and
preference of the customers as he can establish positive relationship and
direct communication directly to customers.
Ecommerce has offered many advantages to the
consumers also. The E-commerce allows the consumers to make purchases at any
time of day. At electronic platform, consumers can easily search the wide range
of desired products with employing much time and efforts.
of E-commerce in retail industry:
Highlighting the importance of ecommerce ? AlGhamdi, Nguyen & Jones (2013) have stated that business
retail industry can avail some crucial advantages of employing E-commerce
related practices. As per the authors, E-commerce can be regarded as cost
efficient and effective methods as in contrast to conventional method of
commerce, E-commerce helps the retail industry in growth of their business as
with the help of e commerce they do not remain geographically restricted and
increase their access to variety of customers.
E commerce not only provides
opportunities to consumers but also provides various opportunities to the
retailers as the reduction in consumer search cost helps them to expand their
customer network with the help of internet (Kraemer, et.al, 2006).
“I don’t create companies for the sake of creating companies, but
to get things done.” -Elon Musk, CEO & CTO of SpaceX, Investor in PayPal.
“Communications is at the heart of e-commerce and community.”- Meg
Whitman, President and CEO of Hewlett-Packard.
“You should learn from your competitor, but never copy. Copy and
you die.”- Jack Ma, Executive Chairman of Alibaba Group.
“There are some who will call us a success because of this fundraise.
They will say we are worth billions. And of course, there are some who will
call it a bubble. We know that the truth is that raising money is not success.
Raising money is a responsibility that opens up new opportunities.”- Jason
Goldberg, Founder of Fab.com.
Analyse the tools on ecommerce
Study on the emerging shift in ecommerce
Analysis of recent approaches in payment
Findings on emerging analytics
Study on big data
The present study is based on the secondary
data collected from different journals, magazines, websites. Various studies on
this paper have also been referred in this study. To arrive at the larger picture on E- Commerce Trends and its
enabling technologies and tools, analyzing the existing survey data and specific
successful case studies of Business Information Systems gave a better result in
finding the answers to the research question framed.
E-businesses firms in the modern era uses
various types of e-commerce tools during their business practices. Different
tools suits the performance of each businesses and therefore it is important
for the businesses to experiment of which tools works best for the business.
These tools are important for the businesses as it affects different factors of
the business in the way of sales, revenue etc. Some of the tools of e-commerce
are discussed below.
It is one of the recent entries to the
ecommerce marketers toolkit. It helps the marketers to optimize their site
search and product recommendations. It enables the ecommerce sites to
personalize the customer requirements through product recommendations and also
identifies the customer intent through site search.
It is a tool
which provides better and improved customer service without having a customer
servicing team. It enables features like create customer support tickets,
resolve tickets, track customer service performance etc. It also collects the
issues raised by customers through phone calls, emails or other social networks
and compiles it in one place.
· Google AdWords
mainly focuses on promoting the ecommerce websites and thereby increasing the
sales. It is done by creating and running ads in google search by using the
tool where these ads are further displayed on their relevance to the keywords
used by the searchers.
· Mail Chimp
This tool helps
the ecommerce traders to launch custom email campaigns, organize contacts etc.
It enables the traders to sent mails in mass quantity to customer group so as
to promote their site as well as the products.
There are other
various tools used by ecommerce traders which includes
Spring, Responsinator, Buffer, Bounce exchange, optimizely, Crazy egg etc.