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09/11/2010 / craigmartinallen

Ecommerce

Electronic commerce

http://en.wikipedia.org/wiki/Electronic_commerce
Electronic commerce, commonly known as e-commerce or eCommerce, or e-business consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange(EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction’s lifecycle, although it can encompass a wider range of technologies such as e-mail as well.

Britain’s £100bn internet economy leads the world in online shopping

UK’s booming e-commerce sector sees more per-capita spending than even the US
28 October 2010 James Robinson
http://www.guardian.co.uk/technology/2010/oct/28/britain-internet-economy-online-shopping
The internet contributed some £100bn, or 7.2%, to gross domestic product in 2009, according to the authors of The Connected Kingdom, a report commissioned by Google and carried out by US consultancy Boston Consulting Group.
Despite relatively slow broadband speeds, the UK is a global leader in e-commerce, with the highest online spending per capita in the world, as ranked by BCG’s index. It also has the second largest online advertising market in the world after the US, according to consultancy Bain.
Internet companies now employ 250,000 people, according to BCG, and many of those jobs have been created by small and medium-sized businesses.
Around 62% of adults, or 31m people, purchased products online in 2010. Last year, they spent £50bn on goods or travel, or about £1,600 each.
Online shopping has become big business in the UK because of a lingering belief among consumers that they are victims of “rip-off Britain“, the report claims. “There is a perception that prices are higher in Britain and there is a perception – correctly – that you can buy goods and services cheaper online,” Zwillenberg said.

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