Electronic Commerce (E-Commerce)

Present E-Commerce

Electronic Commerce or (e-commerce) is the buying and selling of goods and services over the internet or a network.(2) E-commerce is currently very stable and is continuing to grow exponentially. In a report issued in 2008, among the top 20 companies concerning market capitalization, seven of them are media communication companies.(1) Many products sold with e-commerce are virtual items. However, the majority of items sold are still physical items. E-commerce continues to grow as the internet expands and makes way for more business to be done on it. E-commerce is quickly replacing the standard ways of commerce. E-commerce gives buyers a bigger variety to choose from and most of the time at cheaper prices. The internet also speeds up the process of shopping and allows users to quickly price match and shop multiple retailers at one time.

According to Communication Technology Update and Fundamentals by Grant and Meadows the present state of e-commerce is bringing many companies into partnerships.(1) E-commerce has brought on such mergers as Yahoo and Microsoft, MySpace with many music producers, and News Over Wireless with Sprint and Verizon. Many companies also buy other companies such as with eBay controlling PayPal, stub hub, and Skype. Many e-commerce companies are also looking to diversify by moving to mobile commerce (m-commerce).

Future of E-Commerce

The future of e-commerce is m-commerce. E-commerce is now going mobile at very high rates. With things being mobile it allows for users to manage everything wirelessly from handheld devices rather than computers. M-commerce allows users to manage bank accounts with mobile banking, pay bills, and manage their eBayaccounts with eBay mobile all from a handheld device. As smart phones and the software used on them, such as the Android system presented by Google, continue to advance so will the amount of m-commerce being used. Eventually advertising will move its way to mobile devices. (1)

1. Grant, August. Meadows, Jennifer, . Communication Technology Update and Fundamentals. 11th. Focal Press, 2008. Print.

2. "Electronic Commerce." Wikipedia. Web. 2 Dec 2009.