Thank God, there is E-Commerce in India, as through E-Commerce we can buy and sell information, products, and services through internet. It has literally helped me in all aspects. We are delighted with prompt delivery and flawless payment mechanisms building trust in us or other consumers. Internet and electronic commerce technologies are transforming the entire economy and changing business models, revenue streams and customer bases. Ticketing(My biggest Tension) is now done either in third party websites or airline sites. Even online classifieds have made a successful transition online with jobs and matrimonial sites taking the lead. Online retailers are now pushing a larger number of categories such as electronics and other goods. In these emerging models, intangible assets such as relationships, knowledge, people, brands, and systems are taking centre stage.
Categorising E-commerce into 3 segments:
Consumer-to-Consumer (C2C): It finds innovative ways to allow the consumer to interact with each other and by doing so they can sell goods or services to each other.
Business-to-Consumer (B2C): B2C transaction is conducted over the internet between a business and a consumer. E.g. an online publisher may sell his phone to a customer and receive payment without meeting him/her.
Business-to-Business (B2B): It refers to a situation in which one business make a transaction with other.
Now, coming to the imapcts of ecommerce:
With the growing competition in the E-commerce market, people who are able to adapt and innovate quality products will gain profit and enhance the economy of the country.
- Both electronic learning and mobile learning enhances the access of the good educational institutions in remote areas.
- The rise of online sales in the developing markets will encourage retailers to go online for global expansion.
- E-marketplaces are working well in India due to high fragmentation on the supply side.
- Mobile banking reduces the transaction cost of banks which increases access to financial services through rapidly growing mobile market.
- Rural areas which are too costly or unprofitable for business development might be a focus of investment and market expansion, and also for building corporate offices.
- Some of the intangible downside risks of increasingly virtual interaction within rural community include the possible de- socialization of individuals who have minimum direct contact with their peers, their co- workers, and their community. This can extend to family relations as well, particularly if technology creates further imbalances between these who are “online”, and those without access to these technologies. On the other hand, equitable deployment of infrastructure and resources could provide a means of maintaining and expanding family and communal ties that would otherwise be broken by distance and cost.
- Other problem includes psychological and physical health related effects of sedentary, computer anchored work environments. Early experience suggests that as this type of work and social activity expands businesses and government will have to consider broad based means and offset health hazards with new policies and treatments.
- Electronic opportunities are valuable for giant corporations and small entrepreneurs alike. In the latter case, however the technologies and market options available through e- commerce may foster a true revolution in the way business structure and relationships are organized. The prospect of establishing new micro, small and medium enterprises is greatly enhanced by the efficiencies available through information and communications technology.
E-Commerce has made our system more transparent and to an extent it may drive new technological adoption which ultimately helps in driving corruption levels down with everything coming online. The impact is profound and will evolve with the time.