| A frequently used but just as frequently | | | | competition among the businesses involved, thus |
| misunderstood term, ecommerce is the abbreviated | | | | keeping prices low. It permits merchants to offer a |
| term for Electronic Commerce - the transaction or | | | | broader range of transaction options and incentives. |
| exchange of goods or services through a digital | | | | Most importantly, it allows the consumer more |
| network. | | | | freedom on how to spend his/her hard-earned funds. |
| Billions upon billions of dollars have been generated | | | | In the past, a consumer could find reading material at a |
| through ecommerce in the past decade. While the | | | | local book dealer. Most booksellers were very willing to |
| revenue generated is impressive for a relatively novel | | | | special order a book that was not available on store |
| phenomenon, even more impressive is the manner in | | | | shelves. Through ecommerce, the consumer can order |
| which ecommerce has transformed the national | | | | a book from any location in the world and have it |
| landscape of business; both from the viewpoint of the | | | | delivered to his/her doorstep within days. The entire |
| business owner and the consumer. | | | | practice of ecommerce has served to indulge our yen |
| Ecommerce, as is demonstrated by quarterly figures | | | | for instant gratification and, in the process, made our |
| released through The United States Census Bureau, | | | | lives easier. |
| Department of Commerce, has become an important, | | | | Who would have thought in a matter of minutes one |
| powerful, and significant part of our corporate lives. | | | | could pay his/her mortgage, download a CD, book a |
| These staggering statistics indicate the powerful role | | | | vacation, order groceries for home delivery and |
| ecommerce plays in our changing economy. | | | | purchase a gift all with only a few clicks of the |
| Issued for public consumption in November 2007, the | | | | mouse? |
| Q3 2007 ecommerce report showed sales rates of | | | | Beyond aiding the consumer, ecommerce has |
| 34.7 billion dollars. Do these figures indicate people are | | | | changed the face of business full circle. Millions of |
| buying more, or conversely buying less through | | | | entrepreneurs are using this process to make their |
| traditional means? A study done by the USC | | | | concepts and wares available to the world, and for |
| Annenberg Center for the Digital Future suggests | | | | relatively small start-up fees. |
| people now spend fewer of their dollars in brick and | | | | New industries have been born from this trend, some |
| mortar establishments than at any point before in | | | | out of necessity and some from sheer genius. The |
| corporate history. | | | | Aberdeen Research Group predicts that the |
| In fact, reports indicate that people spend 65 percent | | | | technology of BI (Business Intelligence) will be one of |
| less in traditional stores since the ecommerce boom | | | | the most sought-after technological solutions for 2008. |
| commenced. While shopping habits have not changed | | | | BI technology, in essence, gives the retailer real time |
| completely, the gap is shrinking at a swift pace. The | | | | information that allows a swift response to consumer |
| future of retail business will depend a great deal on the | | | | demand on the Internet to create customer retention |
| traditional retail front partnering with online ventures. As | | | | and loyalty. |
| the saying goes, if you can't beat them, join them. | | | | Without ecommerce specialty, niche industries never |
| For you, the ever-important consumer, this information | | | | would have existed. The domino effect filters down to |
| may be more relevant and important than you think. | | | | the manufacturers, sales people and marketers. |
| Ecommerce is growing at a rate of 25 percent per | | | | No longer a novelty, ecommerce is here to stay. The |
| year. Growth in any area of business generates | | | | natural progression of this new corporate art form has |
| greater choice and availability of both goods and | | | | been exciting to watch and participate in. To us it may |
| services. | | | | spell convenience; in the eyes of the world, the |
| Essentially, this level of growth incites some healthy | | | | possibilities are endless. |