Evolution of Ecommerce and Practical Implications in the Uk's Retail Industry Essay

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Evolution of E-commerce and practical implications in the UK’s retail industry Word Count: 3000 7th April, 2011 Abstract E-commerce has set a tremendous potential in fast moving world of technology. The transition from physical purchase to online shopping with the ease of spending via credit/debit card has its own enjoyments and drawbacks. The introduction of electronic payments regulated by the banking industry brought manifold changes in the world’s emerging and developing economies. E-commerce has started to take its toll during the late 80’s and early 90s with the introduction of sites like Ebay and Amazon accounting for major portion of the internet in online shopping. The gradual trust led transition of online shopping and made tremendous success for many businesses trying to get their share of income via this growing market. The explosive growth resulted in many sites coming in providing various types of products and services. The implications of e-commerce witnesses mixed views form experts and information analysts. Some say it has revolutionized the way people use to shop online whereas others denounce the fact that it is still riskier than the physical method of purchasing goods & services. This paper tends to explore various aspects related to e-commerce and give a strong conclusion either it is a better alternative to traditional methods of shopping or not. E-commerce and its history: E-commerce, known as a short form for Electronic Commerce is a method of buying/selling goods and services online using electronic ways of payment e.g. credit/debit card and wire transfer. What initially was used as a way to distribute goods for merchants finally evolved to become a powerful online system of transaction than it ever could be imagined (Provisor, 2009). The evolution of e-commerce as what we know today did not take place without efforts and

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