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Features of Electronic Commerce




  1. Ubiquity: E-Commerce is ubiquitous, meaning that is available just about everywhere at all times. it liberates the market from being restricted to a physical space and makes it possible to shop from your computer system (such as your desktop). The result is called a market space. From consumer point of view, ubiquity reduces transaction costs - the cost of participating in a market. To transact, it is no longer necessary that anyone spend time and money travelling to a market. At a broader level, the ubiquity of e-commerce lowers the cognitive energy required to complete a task.
  2. Global reach: E-Commerce technology permits commercial transactions to cross cultural and national boundaries far more conveniently and effectively as compared to traditional commerce. As a result, the potential market size of e-commerce merchants is roughly equal to the size of world's online population.
  3. Universal standards: One strikingly unusual feature of of e-commerce technologies is that the technical standards of the internet and therefore the technical standards for conducting E-Commerce are universal standards i.e. they are shared by all the Nations around the world.
  4. Interactivity: Unlike any of the commercial technologies of the 21st century, with the possible exception of the telephone, E-Commerce technologies are interactive, meaning the allow for two way communication between merchants and consumer.
  5. Information density and richness: The internet vastly increases information density. It is the total amount and quality of information available to all market participants, consumers and merchants. E-Commerce technologies reduce information collection, storage, communication and processing costs. At the same time, these technologies increase greatly the accuracy and timeliness of information, making information more useful and important than ever. As a result, information becomes plentiful, cheaper and of higher quality. Information richness refers to the complexity and content of a message.
  6. Personalization: E-Commerce technologies permit personalization. so merchants can target their marketing messages to specific individuals by adjusting the message to a person's name, interests and past purchases. The technology also permit customization. merchants can change the product or service based on user's preferences or prior behaviour.
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