| Electronic
commerce is commonly associated with shopping on the Internet. Electronic
commerce is a generic term that refers to the sum of all commercial transactions
executed over electronic media for the exchange of products, services or
information between suppliers and consumers. It comprises a suite of technologies
including electronic data interchange (EDI), electronic mail (e-mail),
electronic funds transfer (EFT), facsimile (FAX), electronic bulletin boards
(BBS) and database services. |
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Why your business needs virtual store
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Over
20 million people are currently buying products and services through the
Internet. |
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In
1998, online retail shoppers are expected to spend $ 4.8 billion, and by
2001, on line retail sales are expected to top $17.8 billion. |
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Currently,
the frequent online shopper spends an average $672 per year on-line and
this is expected to grow to $773 per year by 2001. |
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Consumers
are gaining confidence in the security of the Internet which will further
increase the growth in sales. |
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