E- COMMERCE Lindsey Phillips Dylan Ripley Sherman Johnson Jasmine Reed
E- COMMERCE: BROKEN DOWN Lindsey Phillips
WHAT IS E-COMMERCE E- Commerce, or Electronic Commerce, is the buying and selling of goods and services- including funds or data- over an electronic network, like the Internet. https://www.youtube.com/watch?v=ahgtoqifuq4 Anyone with Internet access & a credit card can do it
For Example Consumer-to-Consumer like Online Marketplaces (P2P) Ebay.com Business-to-Consumer like Online Stores Amazon.com
E-COMMERCE It can be purchasing clothes across the country through the internet OR Getting a hotel room through the company s website Even withdrawals from an ATM is e-commerce
E-COMMERCE: THROUGH HISTORY Lindsey Phillips
E-COMMERCE: HOW IT ALL BEGAN 1960s- Electronic Data Interchange permitting companies to carry out electronic transactions 1979- Michael Aldrich invents online shopping teleshopping 1982- Telecom invents Minitel; most successful pre-www service 1989- Tim Berners-Lee creates WWW server 1995- Jeff Bezos Amazon.Com 1998-Google & PayPal lauch 2000- Dot-com bust 2004- Credit card companies create PCI data security standards
E-COMMERCE: THROUGH HISTORY The Most Popular E-Commerce Site Amazon- 1994 Ebay- 1995 Craigslist- 1995 Target- 1999 Wal-Mart -2001
E-COMMERCE: PROS & CONS Lindsey Phillips
PROS & CONS Advantages Always available Wider selection Easier to select different providers International Low cost No need for physical setup No lines Comparison shopping More deals Buy & Sell on your own Instantaneous Customizable
PROS & CONS Disadvantages Inability to experience product before purchase Fraud & security issues Delays Required internet device & connection Technological issues Expense & expertise
E-COMMERCE: HOW IT WORKS Sherman Johnson
HOW IT WORKS E-commerce is a business transaction between Business to business Business to consumer Consumer to consumer Consumer to business
HOW IT WORKS What E-Commerce is made up of: Banking Developing Retail Shopping Investing Rentals Marketing Selling Delivering Servicing
HOW IT WORKS Popular Forms of Online Payment Paypal- 60% of total web transactions Authorize.net USA epay
E-COMMERCE: TRENDS Jasmine Reed
INNOVATIVE TRENDS Context is more personalized More relevant info for the customer A member of an E-commerce site will have remembered preferences, making shopping easier Quicker & more flexible delivery Video Marketing E-commerce businesses are building large YouTube followings Videos can boost a site s SEO (System Engine Optimization)
INNOVATIVE TRENDS Improved mobile shopping Real-Time analytics Real-time tracking will allow online retailers to offer a more comprehensive shopping experience. Sites can monitor shopper behavior and see problems- with sales, checkout, or codes Multi-Channel shopping Companies are starting to experience problems if they don t list products on places like Amazon or Etsy. Shoppers can find a wide selection of unique items from varying sellers
E-COMMERCE: STATISTICS Dylan Ripley
STATS OF E-COMMERCE Shopping Online 71% of shoppers believe they will get a better deal online 80% of the online population has ordered something using the Internet 36% of consumers spend 30+ minutes comparison shopping Online sales, in the first quarter of 2015, were up 13% compared to same quarter 2014 In the US 191.1 million US online buyers E-Commerce sales estimated to be $304.1 billion for 2015, increasing $491.5 billion by 2018 In 2014, only 28% of US small businesses were selling their products online
STATS OF E-COMMERCE Cart abandonment was 88% in 2013 97% mobile carts, only 70-75% desktop carts Cart Abandonment 61% are likely to cancel their purchase if shipping isn t free
E-COMMERCE: HOW TO Dylan Ripley
HOW TO MAKE YOUR E-COMMERCE SUCCESSFUL Some keys: Have a quick system Thoroughly tell consumers about the product Keep checkout quick & easy Have more than one payment option Reasonable shipping Good marketing
HOW TO IMPROVE YOUR E- Navigation: Have meaningful labels Include a search Mention sales Subcategories COMMERCE Checkout: Clear action buttons Show progress bar As simple & easy as possible Allow back button access
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