It never ceases to amaze me how much time people waste trying to save money. Having grown up in a small town (fewer than 2,000 people), I recognized that paying a little more for staple items locally was less costly than driving 20 miles to save a few bucks.
Basically, e commerce can be defined as the buying and selling of products or services online. Ecommerce has many advantages over traditional "brick and mortar" companies. Consumers can quickly and efficiently browse through hundreds of products or services without ever leaving the comfort of their home, or compare prices and products with the click of a button.
E-commerce development is said to be the most effective and impressive way of economic growth in which information and communication works together to generate profitable results. This process has empowered the countries to spread their trade relations and strengthens a new direction of development and growth.
In recent months, the Internet has experienced immense growth in the arena of E-Commerce. E-enabled sites are capable of performing financial transactions where money is (usually) exchanged electronically for good / services bought / sold
There are a number of firms projecting the growth of Internet commerce. Thus far all of them have revised their figures upwards on a regular basis. Current estimates of annual e-commerce volume in five years range from hundreds of billions to trillions of dollars per year.
