E-commerce: Opportunities and Challenges

Abstract

The rise of the internet era has significantly changed the way people and organizations around the world interact with each other. What was earlier only a medium of transferring data or communication has now been replaced by a wider range of application termed as e-commerce. Products and services are now just a click away. Vendors around the world have started setting up shops over the web. Entire market places for trade and commerce have jump up online. E-commerce has comes out as a successful innovative business tool via internet. This business transaction strategy offers many opportunities for growth in business at worldwide level as one need not to be present physically to cater their customer's demand. Through, internet one can serve customer being at one edge of world while customer on other. E-commerce could become predominant source of business, if the challenges allied with insecurity, trust, and privacy are tackled. This paper describes the concept e-commerce, followed by present e-commerce scenario in India and lastly opportunities and various challenges in e-commerce.