Internet and E-Commerce Essay

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The Internet became popular worldwide around 1994 with the adoption of Mosaic web browser. However, commercial enterprise on the Internet was prohibited by NSF until 1995. By the end of 2000, many European and American business companies offered their services through the World Wide Web. Since then people began to associate a word "ecommerce" with the ability of purchasing goods through the Internet using secure protocols and electronic payment services. E-commerce includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services. Modern e-commerce typically uses the World Wide Web at least at one point in the transaction's life-cycle, although it may encompass a wider range of technologies such as mobile devices and telephones. Electronic commerce that takes place between businesses is referred to as business-to-business or B2B. B2B can be open to all interested parties or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that takes place between businesses and consumers, on the other hand, is referred to as business-to-consumer or B2C. This is the type of electronic commerce conducted by companies such as Amazon.com. Online shopping is a form of electronic commerce where the buyer is linked directly to the seller via the internet connection. There is no intermediary service involved. The sale or purchase transactions are completed electronically and interactively in real-time. However in some cases, an intermediary may be present in a sale or purchase transaction, as in the case of a transaction completed on eBay.com. Nowadays developed countries are still the leading participants in the field. Meanwhile, developing countries are increasingly becoming an important force in the global e-commerce market. According to Internet World Stat, 41.2 percent of the Internet users come from Asia, followed by 24.6 percent and 15.7 percent from Europe and North America. Middle East and Africa currently contribute only 6.3 percent of the Internet users. In the period between 2000 and 2008 the Internet usage rate in Asia and Latin America grew by 475 percent and 861 percent respectively. According to the latest news in Economist magazine “America is still top dog, with some 170m punters scouring for bargains on the internet. However, China is not far behind, with 145m online shoppers, and it could become the world’s most valuable e-commerce market within four years.” The Boston Consulting Group (BCG) calculates that every year for the foreseeable future another 30m Chinese will go online to shop for the first time. By 2015 each one of them will spend $1,000 a year—about what an average American is spending online now. BCG calculates that e-commerce could rise from 3.3% of China’s retail sales today to 7.4% by 2015 – a jump that took a decade in America.(4) The biggest obstacle holding back e-commerce for years was the lack of trust. Consumers worried that online firms were illegitimate, or that their credit cards would be abused, or that purchases would get swapped for counterfeits during shipment. Alibaba (China’s dominant ecommerce group) eliminated these difficulties by creating Alipay, a clever online arrangement that—unlike eBay’s system—releases payments to vendors only after clients confirm that they are satisfied.(4) A large Chinese internet company Tencent plans to launch an ecommerce platform that will integrate its online shopping and social networking services on one website. It would invite other online retailers to establish flagship stores on the platform – called QQ Buy – and use Tencent’s various social networking and media tools for marketing. The company also makes money by selling an increasing range of virtual products and services. China’s 10 largest ecommerce websites have a combined user base of only 30m, compared with a total number of 485m internet users in the
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