Commerce Basics

What does E-commerce stand for?

• Electric Commerce

• Electronic Commerce

• Eggplant Communication

• Easy Currency

Name one advantage of E-commerce for businesses.

• Limited customer base

• Higher costs

• Global reach and accessibility

• Decreased security

Explain the concept of online payment in E-commerce.

• Online payment in E-commerce involves electronically transferring money from the customer to the merchant for goods or services purchased online through various payment methods like credit/debit cards, digital wallets, and bank transfers.

• Online payment in E-commerce only accepts payment through cryptocurrency.

• Online payment in E-commerce involves physically mailing cash or checks to the merchant.

• Online payment in E-commerce requires customers to visit the physical store to complete the transaction.

What is the role of digital marketing in E-commerce?

• Digital marketing is only useful for brick-and-mortar stores

• Digital marketing only focuses on traditional advertising methods

• Digital marketing helps in increasing brand visibility, driving traffic, engaging customers, and converting leads into sales.

• Digital marketing has no impact on E-commerce

How does E-commerce impact traditional retail businesses?

• E-commerce has no impact on traditional retail businesses

• E-commerce shifts consumer preferences towards online shopping, leading to decreased foot traffic in physical stores, increased competition, and the need for businesses to adapt by establishing an online presence.

• E-commerce reduces competition for traditional retail businesses

• E-commerce leads to increased foot traffic in physical stores