E-commerce, or electronic commerce, is an innovative transformation that impacts the consumer as much as it impacts the marketer. E-commerce, on the other hand, is so much more than just a means of enhancing the present company process. It changes the model of business to its entirety. India is not an outlier to this vast transformation of the workings of the company to business and this is sweeping across the globe. Widespread internet access has contributed in a boost in e-commerce, and start-ups in particular have been utilising this option more and more as a means to distinguish them apart from rivals. The current study is aimed to describe current circumstances of e-commerce and examine its tendencies. The study also looks at the necessary factors required for e-commerce business models to prove effective.
Introduction
I. INTRODUCTION
A. What is E-commerce?
Electronic commerce is called e-commerce. It means conducting business over the Internet and through electronic media for goods and services. E-commerce refers to the process of doing business online and using information technologies like EDI. E-commerce refers to the website of the vendor on the Internet, who uses the gateway to trade goods or services with customers directly. The site accepts credit cards, debit cards, or EFT for payment purposes and employs a digital shopping cart or digital shopping basket system. More detailed explanation: E-commerce refers to the use of digital information processing technologies and electronic communications in business transactions to initiate, alter, and redefine relations for value creation between or among businesses.[1]
B. E-Commerce Facilitators
Internet:The widespread use of the internet has contributed to the expansion of e-commerce. Smartphones and the internet are becoming essential components of every person's life. The internet is becoming a vital tool for communication, learning, shopping, and even obtaining services from doctors, carpenters, plumbers, and other professionals. It is no longer just a source of information. As digital platforms help improve client connections, which drastically reduce waste and support green enterprises, the supply chain is also getting leaner and smarter. Let's take a look at the e-commerce trends. The ICT revolution has brought about an unparalleled impact on the growth of the world during the last 15 years. The internet and its services have created new markets due to the tremendous advancements in technology. The internet had only a few users in the 1980s,[2] but it increased steadily over the period until 1994 with increasing usage of the text-based services like email as well as file transfers. Internet in India is known to be highly used lately. An estimate by June this year reports this figure to have rocketed to 462 million since people keep joining to WWW largely through mobile devices. As of last year's October, 375 million web surfers round up from more than 350 million in December 2014. India recently edged out the US for the world's second-largest Internet user base title.[3] China currently leads with more than 600 million Internet users. An
Payment Gateways:Application service provider for e-commerce that makes it possible for online merchants, brick and mortar businesses, and e-business to accept credit card payments, is referred to as payment gateway. Electronic financial transfer, credit and debit cards as well as online banking payments have been part of Online business payment schemes. As the world is moving away from using cash to digital means of money, long-lasting, sustainable e-commerce are made possible by the requirement of payment gateways.
Analytics:The scientific method of turning data into knowledge for better decision-making is termed analytics. Businesses use analytics to gather, arrange, analyze, and report on everything their consumers do. The tremendous rise in the Businesses are now required by the abundance of data to concentrate on analytics in order to understand client behavior. In order to optimize the channel mix and gauge the return on online investments, retailors would need to have real-time access to information. Basic analytics features like average order value, basket size analysis, and conversion ratio are easily accessible with e-commerce companies; however, more comprehensive analytics solutions are needed for consumer insights that may be put to use.
Social Media: More and more businesses are using social media to promote their goods. Social media consists of websites and software applications that allow users to interact and share information online using a smartphone or PC. Social media is more important for establishing brands and educating consumers about various offers. It is also beneficial in obtaining feedback about the products or services. It provides a platform for advertising, word-of-mouth marketing, community development, brand building, and more..
C. Block Diagram Of Ecommerce Website
A typical e-commerce website is depicted in the block diagram, which shows how different components interact.
User: The end user who uses the e-commerce website is represented by this block.
Web Page: This block is an example of the user interface, where consumers may purchase items, manage their accounts, and browse products.
Internet: The network connection that permits communication between the user, the webpage, and other elements is represented by this block.
Administrator: The people in this block are in charge of running the website, which includes updating product listings, processing orders, and providing customer service.
Company Interaction: This block shows how the business handles its internal operations, including customer service, inventory control, and order fulfillment.
Database: This block is where all website data, such as user profiles, order histories, and product details, are centrally stored.
II. LITERATURE SURVEY
E-commerce is one of the most important transformations in the business world. This innovation that is causing disruption is fundamentally altering established corporate practices. A form of business strategy, or a segment of a strategy, referred to as e-commerce, allows a company or person to conduct transactions over a computer network, typically the internet. E-commerce is the term that has been coined to refer to buying and selling of products and services as well as transfer of funds or information from one point to another over the internet. Such interaction can be between business to consumer, business to business, or consumer to business. The retail processes which occur in the context of online shopping are termed e-commerce. A variety of tools, including email, are used in e-commerce.[4]
But then there are diverse sets of differences in online buying behavior as observed due to diverse customer attributes and types of products and services offered. Dominos recently launched an internet shop but Shopify and Flipkart have taken online shopping to the next level..[5]
III. PROPOSED METHODOLOGY
This website allows people to buy sports jerseys and jerseys from specific collections online. A trade can prepare orders, accept installments, manage shipment, and provide client perks via an e-commerce website. There are many e-commerce websites available, but since there aren't many of them and we felt this may be a cool concept, we decided to pick one for sportswear. Any kind of trade or commercial exchange where data is shared over the internet is known as e-commerce.Our Website contains 7 pages which are:
Home Page
Shop Page
Sign up/ Log in Page
Special Collection Page
Cart Page
Contact Page
About us Page
A. Process
First, the customer is asked to log in or sign up on the website's home page before being directed to the shop page where he can choose from Club and International jerseys or special collection jerseys. The buyer is then directed to the cart page after selecting the preferred jersey, and he can complete the transaction by filling in the necessary information. After directing him to the payment gateway, he is required to finish his payment, after which the order is successfully completed.
B. Graphical Representation of the website/ System Block Diagram
Conclusion
Online retail research has listed a number of factors marketers need to consider to succeed with this innovative business model. The success of the E-Commerce industry will be determined by factors such as consistent transaction steps, uniform website design, warranty for replacements, mobile commerce services, consistent promotions, accurate stock information, diverse product range, location-specific services, various payment choices, relevant content, delivery options, legal obligation to provide invoices, fast turnaround, clear and practical terms and conditions, and ensuring product quality matches online display. Privacy is an important aspect of ecommerce, as it increases both competitive advantage and client confidence. While social media can allow marketers and brands to reach their target market without having to spend a lot on traditional media, luxury brands have recently found it hard as unlicensed sellers are luring consumers, most of whom succumb to the temptation of receiving discounts of up to 50–70%. It helps websites like WhatsApp, Instagram, Twitter, and Facebook. For all these accounts, there is a need to put money into legal checks and balances and keep a watchful eye on them. E-commerce is beneficial to any country; with the right support and favorable circumstances, it may significantly contribute to the progress and development of that country.
References
[1] Awais Muhammad and Samin Tanzila (2012), “Advanced SWOT Analysis of E-Commerce”, IJCSI International Journal of Computer science Issues, Vol 9,Issue 2,No 2,pp. 569-574
[2] Blasio,G.,D. (2008), “Urban–Rural Differences in Internet Usage, e-Commerce, and e-Banking: Evidence from Italy”, Growth and Change, 39.2 , pp. 341–367
[3] Chanana Nisha and Goele Sangeeta, “Future of e-commerce in India”, International Journal of Computing & Business Research, ISSN (Online): 2229-6166
[4] Chou,D.,C. and Chou,A.,Y. (2000), “The E-Commerce Revolution, A Guide to the Internet Revolution in Banking” information systems management,pp.51-57
[5] India to surpass US with 402 million Internet by 2016: IAMAI,(2015,Nov. 20) The Indian Express. Retrieved from
http://indianexpress.com/article/technology/tech-news-technology/india-to-have-402- mn-internet-usersby-dec-2015-will-surpass-us-iamai-report/
[6] Ozok, A. A., Oldenburger, K., & Salvendy, G. (2007). Impact of consistency in customer relationship management on e-commerce shopper preferences. Journal of organizational computing and electronic commerce, 17(4), 283-309.
[7] Nelson, P. (2013). How 3D Printing Will Revolutionize E-Commerce, E-commerce times. Retrieved from Asian Journal of Technology & Management Research, 2249-0892.
[8] Mitra, A. (2013). E-commerce in India-A Review. International journal of marketing, financial services & management research, 2(2), 126-132.