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E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the Internet, especially the World Wide Web. In practice, this term and a newer term, e-business, are often used interchangeably. For online retail selling, the term e-tailing is sometimes used. While e-commerce once required an expensive interface and personal security certificate, this is no longer the case. Virtual storefronts are offered by a variety of hosting services and large Internet presences such as eBay and Yahoo!, which offer turnkey solutions to vendors with little or no online experience. Tools for running successful e-commerce websites are built into the hosting servers, eliminating the need for the individual merchant to redesign the wheel. These tools include benefits like shopping carts, inventory and sales logs, and the ability to accept a variety of payment options including secure credit card transactions. Even personal services such as hair and nail salons can benefit from E-commerce by providing a website for the sale of related health and beauty products normally available to local customers exclusively. E-commerce can be divided into: 1. E-tailing or "virtual storefronts" on Web sites with online catalogs, sometimes gathered into a "virtual mall" 2. The gathering and use of demographic data through Web contacts 3. Electronic Data Interchange (EDI), the business-to-business exchange of data 4. e-mail and fax and their use as media for reaching prospects and established customers (for example, with newsletters) 5. Business-to-business buying and selling 6. The security of business transactions. The growing popularity of E-commerce is understandable considering the time and hassle involved in running from store to store, searching for an item in the real world. It not only takes valuable time and encourages cities and high gas prices, shopping online wherever the mood strikers even in the night, has unarguable, uneatable advantages. Benefits of E-Commerce E-commerce can provide the following benefits over non-electronic communication: 1. Reduced Costs: reduced labor, reduced paper work, reduced errors in keying in data, etc. 2. Reduced Time: shorter lead times, faster delivery of product. 3. Flexibility with Efficiency: the ability to handle complex situations, product ranges and customer profiles without the situation becoming unmanageable. 4. Enhanced Long-Term Trading Partner Relationships: improved communication between trading partners leads to enhanced long-term relationships.
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