Electric commerce refers to the buying, selling and payment of goods and services over the internet (Grandón et al. 2011,p. 293). The type of trade is continually being embraced by more people all over the world due to technological advancements. E-Commerce has significantly evolved over the years. In the past, if anyone wanted to buy something from another country, he/she had to either personally visit the country to make the purchase or send someone to bring back the items as they came back from the said countries. The problem of payment, however, remained imminent, as there was no online platform, which facilitated payments. The internet itself was a new phenomenon, which had not advanced to trustable levels (Grandón et al. 2011,p. 293). That has since changed.
There are some factors, which have deemed online shopping and payment more attractive. The significant milestone is the development of cheap, fast internet that is currently accessible from any part of the world. Coupled with this evolution is the advancement of online stores and shops, which advertise their products on popular social media platforms such as Yahoo, Facebook, Instagram, and Twitter. There are also renowned online platforms such as eBay and Amazon that promote products and assure free deliveries all over the world (Haucap and Heimeshoff 2014, p. 50). All these sites are currently viable electronic commerce markets that continue to appeal to the internet users.
E-commerce also played a significant turning point in the development of online payment methods. Sites such as eBay and Amazon order websites where a potential customer identifies a product, purchase it and wait for its delivery right where he/she is. Payment on delivery is not a viable option as it may lead to lots of losses when the clients do not pay as agreed. These sites thus require the accompaniment of purchase with the required payment. Currently, payments of money online have been eased and made very efficient. PayPal, use of Visa Cards and the Payoneer card are all payment methods, which are acceptable globally and as thus facilitate the conduction of E-Commerce (Mascavag et al. 2012). The security of these payment methods is paramount, and as such, Anti-theft and anti-hack mechanisms are already in place to prevent the occurrences of such vices.
The role of the internet is to incorporate a platform for communication and collaboration. Through E-Commerce, entrepreneurs and businesspersons have successfully expanded their market base and met their clients from all over the world. This improvement is a significant milestone in E-commerce. E-commerce has also been vital in influencing customer’s decisions. A website contains the entire product business stocks, and online clients can efficiently go through the photos, videos and identify what works for them best. A well-designed website includes all the aspects of particular items and their importance. A customer may be compelled to purchase the product, and this decision is even faster since all one requires to click the purchasing tab and wait for the delivery of the item. Companies continue to report massive success because of e-commerce. extra, an online business reported triple sales since it started using online marketing (Mehta and Shah 2011). The ease in how people can purchase products is, therefore, revolutionary.
E-commerce has also changed the convenience in making purchases. Other than widening customer base, businesses can now fit into the busy schedules of some of their clients and offer more personalized services (Miller 2009, p.71). In the current times, people are increasingly becoming more active. Most people work more than two jobs and thus lack time carry out personal activities such as shopping. The convenience in E-commerce enables people to just log into the internet wherever they are, browse through items and make purchases. Delivery is convenient since the businesses bring the purchases right to the door of the purchaser. This efficiency, therefore, represents an essential turning point in purchases.