E Commerce Is The Backbone Of Modern Global Markets

INTRODUCTION E Commerce has changed the economy of the world since the first ‘online shopping’ system called Videotex was created in 1979 by Michael Aldrich using a 26† domestic TV (Aldricharchive.com, 2015). It has even shaped society itself, changing people’s shopping habits and how the entire landscape of business operates. E-commerce is the backbone of modern global markets from business to business (B2B) companies such as IBM and Microsoft with a total brand value bordering on $200,000M (McGreal, 2014), to local independent business to consumer (B2C) shops with a simple website they use to sell their products. THE IMPACT OF E-COMMERCE LOCALLY As recently as just 15 years ago, the majority of small independent businesses only needed to worry about competitors locally on the other side of town. There were other methods of sale such as telephone, yet it was still time-consuming and difficult at times. Furthermore, it was difficult to get even a small business started as it required such a large initial investment and advertising was not as readily accessible as it is now. Travelling was also essential â€Å"81% of small businesses that had an online presence during last year’s holiday season reached new customers† (http://www.DBWebDoctor.com, 2015). Now, the internet allows them to reach out to customers they never could with just physical premises, and boost sales significantly if they use it right Even individuals can now market their more specialists items andShow MoreRelatedWhat Is E-Commerce Is Vercing Business To Business?999 Words   |  4 Pageslast decade, mobile apps are enhancing business to business (B2B) and business to customer (B2C) collaborations. It is the age that e-commerce is inevitable for every entity that seeks to connect with its customers and trading partners alike. 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