E-commerce is defined as the use of the Internet and the Web to conduct business transactions. A more technical definition would be: e-commerce involves digitally enabled commercial transactions between and among organizations and individuals.
Important features of e-commerce are given below:
1. Ubiquity: It is available just about everywhere and at all times.
2. Global Reach: the potential market size is roughly equal to the size of the online population of the world.
3. Universal standards: The technical standards of the Internet, and therefore of conducting e-commerce, are shared by all of the nations in the world.
4. Richness: Information that is complex and content rich can be delivered without sacrificing reach.
5. Interactivity: E-commerce technologies allow two-way communication between the merchant and the consumer.
6. Information density: The total amount and quality of information available to all market participants is vastly increased and is cheaper to deliver.
7. Personalization: E-commerce technologies enable merchants to target their marketing messages to a person’s name, interests, and past purchases. They allow a merchant to change the product or service to suit the purchasing behavior and preferences of a consumer.
8. Social technology: User content generation and social networking technologies.
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