what are the features of commerce

Come let’s talk about its characteristics:

• Commerce provides the necessary link amidst the producers of goods and consumers of goods.
• It is known for the exchange of goods and services for adequate consideration.
• Commerce covers the services delivered by various organizations, to facilitate the free flow of goods and services.
• It removes all the barriers, as to person, place, time, risk, knowledge, finance, etc. in the process of exchange.

Full Answer

What is CMS in ecommerce?

What is the success of an online store?

How to add support to ecommerce store?

What happens if you don't integrate shipping?

How to accept payments on ecommerce?

How to improve engagement at your store?

Why add a search bar in your store?

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What is commerce explain the features of commerce?

Commerce is defined as the exchange of goods and services between two or more entities. It typically involves buying and selling things of value. Commerce can take place between businesses, between consumers, or between businesses and consumers.

What are the 5 importance of commerce?

Commerce is important because it helps to satisfy the wants and needs of people. It has other benefits, like the creation of jobs and increased standards of living. There are six main branches of commerce: trade, transport, warehousing, insurance, banking, and advertising.

What are the types of commerce?

Types of Commerce#1 – B2C (Business to Consumer) In this model, a business directly sells to its end-consumer. ... #2 – C2C (Consumer to Consumer) ... #3 – B2B (Business to Business) ... #4 – C2B (Consumer to Business)

What is commerce short note?

What Is Commerce? Commerce is the exchange of goods or services among two or more parties. It is the subset of business that focuses on the sale of finished or unfinished products rather than their sourcing, manufacturing, transportation, or marketing.

What are the 7 features of e commerce?

Top 7 Ecommerce Website FeaturesUser-Friendly Design. Perhaps the most important feature customers want in an ecommerce site is a good user experience. ... Mobile-Friendly Features. ... Multiple Payment Options. ... 24/7 Customer Service. ... User Reviews. ... User Features and Discounts. ... Extensive Product Information.

What are the 6 features of social commerce?

The Six Pillars Of Social CommerceBuyers community (GDGT)Group buying (Groupon, Living social)Purchase sharing (JustBoughtIt)Curation (Polyvore, Pinterest)Social advice (Fashism)Co-shopping (like the Shop Together engine used by Charlotte Russe)...

Who is called Father of commerce?

PoseidonAccording to Greek mythology, Poseidon is the father of commerce. He is the god of the sea and traded on it. Trading is important to commerce, so he is known as the “Father of Commerce.”

What is full meaning commerce?

Commerce is the exchange of goods and services between businesses. Commerce is the trade of goods, services, or other things of value between companies or organizations. In a broad sense, governments try to manage trade to make their people happier and healthier by creating jobs and making useful goods and services.

What are the 4 main subjects in commerce?

The important subjects that are taught under the Commerce stream in Class 12 comprise Accountancy, Economics, Business Studies, Statistics, Mathematics and Informatics Practices.

Who founded commerce?

Global commerce as it's known today had its beginnings in the 16th century, when large trading companies were formed in the UK, Spain, Portugal, and the Netherlands.

What is the origin of commerce?

The English-language word commerce has been derived from the Latin word commercium, from com ("together") and merx ("merchandise").

Who is the father of Indian commerce?

Vaitheeswaran is the author of the recently released book “Failing to Succeed - the story of India's first e-commerce company” and is widely hailed as the 'father of e-commerce in India'.

What are the importance of commerce to students?

Commerce education equips students with specialized skills that come useful in tackling problems in several functional areas of commerce, industry, and trade. The skilled manpower supply is indispensable for the expansion of a business. Commerce education features a crucial role in today's dynamic business environment.

What is the most important function of commerce?

Answer: It consists of trade, and the activities which facilitate trade. The process of exchange is full of hindrances. The principal function of commerce is to remove these hindrances so as to ensure a free and uninterrupted flow of goods and services from producers to consumers.

What is the importance of commerce subject?

Commerce education imparts the experience of the business world in all its manifestations. It equips students with a number of specialised skills that help them excel in different functional areas of trade, industry and commerce.

What are the 10 advantages of e commerce?

10 Key Benefits Of Ecommerce For Your BusinessLow costs. A significant advantage of ecommerce is that launching an online store is much less costly than opening a physical store. ... Speed & Flexibility. ... Faster Buying Process. ... Product Catalogue. ... Wider Customer Base. ... Customer Data Insights. ... Scalability. ... Reviews & Ratings.More items...

What is the most important feature of an eCommerce website?

One of the most essential features of an eCommerce business is the universal acceptability of the website. An eCommerce website must work upon the universally accepted systems and methods. Maintaining global standards helps the users of an eCommerce website to use the website efficiently.

What is the importance of interactivity in eCommerce?

Another important feature of an eCommerce business is its interactivity. Interactivity means the two-way communication between the users of the eCommerce website and businesses. Customers feel easy to purchase from the websites where they can interact before, after, and even during the purchase.

What is the difference between ecommerce and real business?

The customer limit of a real business is limited to the city where it is located, whereas the reach of an eCommerce business is global. Ecommerce encourages customers to buy things from any corner of the world.

How to attract customers to an eCommerce website?

Nowadays, people have become aware, and they make an intelligent purchase only. Integrating blogs and articles section in the eCommerce platform is another method to attract such customers. The image of your business will improve when they can learn great things from you.

Why is internet connectivity important for eCommerce?

Internet connectivity has made the eCommerce platform easy for people to access anytime and anywhere in the world. 80% of the times people browse through your website either when they have nothing to do or just to look for something.

What is an ecommerce business?

Let us first learn what an eCommerce business is? An eCommerce business is a business model which let the companies set up their business on an electronic network. Rather than displaying products in a physical store, a businessman put the products or services he wants to sell on a website on the internet. As eCommerce business is easy ...

What is the advantage of eCommerce?

The one feature of eCommerce businesses which sets it apart from the physical businesses is its ability to provide personalized services to each customer. With the help of the technology and browsing and past purchases history of a customer, businesses can recommend personalized products and offer to an individual.

Social Commerce Overview

Social commerce includes selling and dealings. But it takes place via social media sites and messaging services.

The 6 Features of Social Commerce

The term “social commerce” refers to a variety of functions. Here are a few of the features which make social commerce possible.

The Social Commerce Bright Future

After a few shaky starts, social commerce is finally taken off after a few years.

What is seamless integration?

Seamless integration means Sana Commerce web stores display the complex sales tax calculation carried out by your ERP in real time.

What ERP system does Sana Commerce use?

Sana Commerce uses the pricing logic from your SAP or Microsoft Dynamics ER P system so you can always rely on accurate discounts in your web store.

How does Sana Commerce work?

Sana Commerce eliminates system silos by making your SAP or SAP Business One ERP and e-commerce work as one. This guarantees a convenient and reliable experience for your customers, and gives you the agility to quickly respond to their evolving needs.

What is Sana Commerce?

Sana Commerce is your secret weapon in the quest for customer satisfaction. Exceed customer expectations and deliver reliability without compromise with the following 44 e-commerce features.

What is integrated ecommerce software?

Our integrated e-commerce software leverages your ERP’s master database in your web store and ensures all newly created online records (such as orders) are instantly available in your ERP.

Can you use a client specific catalog in Sana?

If you use client-specific catalogs in your ERP system, you can also use them in your Sana Commerce web store to ensure that your clients only see products relevant to them.

Does Sana Commerce use ERP?

Sana Commerce uses pricing data directly from your ERP. Whether they visit your web store or speak with your sales reps, your clients will always get the right price.

What is ubiquity in business?

Ubiquity means that the commercial transaction or activity is available at any time from anywhere in the world. Today consumers rely heavily on their cell phones and tablets to access the internet. So make sure that your website is mobile friendly.

How to increase interactivity?

Increasing the amount of interactivity you have with a consumer lies, in part, on your ability to connect with them on an emotional level. This creates brand trust and loyalty. Make sure your social marketing efforts are linked to your e-commerce site. Engage with your customers.

How to make a website rich?

To ensure richness on your site, provide a variety of messages and means to enhance the shopper’s experience. Videos, text, pictures, sound and links can all enhance the customer experience. Make sure you have high-resolution photos and video. Feature multiple images to help customers get a better feel for your products. Images make the sale, not text. Also make sure that all images load quickly to the page.

How to enhance customer experience?

Videos, text, pictures, sound and links can all enhance the customer experience. Make sure you have high-resolution photos and video. Feature multiple images to help customers get a better feel for your products. Images make the sale, not text. Also make sure that all images load quickly to the page.

What is global reach?

Global reach, or world wide access, is the highest number of potential consumers a business can reach. Of course, when working globally, security is key.

What does "universal standards" mean?

Have Universal Standards. Universal standards mean that your website operates on standard platforms with agreed upon methods and systems. This includes ease of use of your e-commerce site and ensuring that you’re keeping it simple in design and content.

Can a company have a website?

Today, e-commerce sees billions of dollars traded annually. No large company with any commercial presence can afford to be without a website. For many companies, their presence on the internet is their window to the world. Some companies operate solely as e-commerce businesses. While all websites are unique, there are seven elements that every website site should have to stay relevant and competitive.

Why is eCommerce so popular?

Because they are web-based, eCommerce technological features are available anywhere you can connect to the Internet at any time, including homes, offices, video game systems with an Internet connection and mobile phone devices. Because eCommerce is ubiquitous, the market is able to extend its traditional geographic boundaries and operating hours. An example includes the ability to access the Internet wherever there is a Wi-Fi hotspot, such as a cafe or airport. Moreover, individuals who have cell phones with data capabilities can access the Internet without a Wi-Fi connection.

What is personalization in Pearson Education?

Pearson Education states that companies can base such messages on individual characteristics of a consumer. An example of personalization includes product recommendations based on a user's search history on a Web site that allows individuals to create an account. Advertisement.

Why are universal standards important?

Universal Standards. Individuals, businesses and governments only use one set of technological, media and Internet standards to use eCommerce features. Consequently, universal standard s help simplify interactions. An individual can see these standards while shopping online, as the process to purchase items is similar on Web sites ...

How do social networks work?

Social networks use eCommerce technologies to allow members, the general public, to share content with the worldwide community, according to Kurt Grashaw in an article for the Web site Merchant Circle. Consequently, consumers with accounts can share personal and commercial information to promote a product or service. When a company has a professional social networking account, a member of the same social network has the option of associating himself with the company or a product by saying he likes or recommends it. When an individual updates his status on a social networking account, he may also mention a product or company by name, which creates word-of-mouth advertising.

What is the term for the purchase and selling of goods or services via electronic means?

A young woman shops online with her smart phone and credit card in hand. Electronic commerce, or eCommerce, refers to the purchasing and selling of goods or services via electronic means, such as the Internet or mobile phone applications. It may also refer to the process of creating, marketing, servicing and paying for services and goods.

Why is interactivity important in eCommerce?

Technologies used in eCommerce require consumer interactions in order to make an individual feel as though he is an active participant in the transaction process. As a result, eCommerce technologies can adjust to each individual's experience. For example, while shopping online, an individual is able to view different angles ...

What is eCommerce technology?

Technologies within eCommerce seamlessly stretch across traditional cultural and national boundaries and enable worldwide access. Pearson Education states that instead of just offering goods and services to a population within a specific boundary, businesses can market to and serve an international audience. The Internet and multilingual Web sites, as well as the ability to translate a Web page, allows international visitors all over the globe to access company Web sites, purchase products and make business interactions.

Why is it important to have an eCommerce website?

Successful eCommerce websites rely on extensive features and functionality to maximize conversions, encourage repeat customers, and grow sales. As a business owner, it is crucial that you have the tools to manage your website and that the administrative features fit with your business processes.

What is dashboard general report?

Dashboard general reports (not based on the date range) include low inventory reporting, total products in-store, total categories in-store, customer count, lifetime orders, and lifetime revenue

Does WooCommerce have SEO?

Every eCommerce platform has a set of SEO features built-in or plug-ins available to power the SEO side of your needs. For example, WooCommerce utilizes Yoast SEO and Shopify has a large selection of add-ons. Every platform also has your standard built-in features to manage title tags, meta descriptions, and your basic SEO elements. Some platforms have their own challenges – we even wrote an article about Shopify SEO issues which highlights the inability to change the URL structure, character limits on page titles, and more. The bottom line is, be sure the platform you select offers the built-in capabilities, or add-on capabilities, to implement your SEO strategy exactly the way you or your SEO agency intends.

Is Magento better than Shopify?

The platform can be extremely SEO friendly; however, it still requires expert knowledge of the platform to leverage Magento's advanced SEO features. These advanced SEO features need to be more user-friendly to be a great eCommerce platform. Magento is significantly more scalable, customizable, and SEO-friendly than platforms like Shopify or WooCommerce, but you'll pay more too. Hosting can be extra expensive for Magento, especially for sites with thousands of products. If you build an eCommerce website on Magento, expect to hire Magento developers on staff or outsource with a Magento development company.

Is Shopify a template?

However, Shopify is still a templated solution, which means you are bound to the availability of templates and app integrations for design and functionality. It also is not the most SEO-friendly platform out there, but it's not terrible in this regard.

How is a website successful?

Many websites' success is determined by the products offered and how well the website is marketed, the features the website provides, and both the customer and the website owner. As a business owner, it is essential to have the tools to manage your website and that the administrative features fit with your business processes.

When was Outerbox founded?

At OuterBox, we’re an in-house team of 80+ eCommerce experts, in the USA, that speak your language – making money online! Founded in 2004, we’ve built top-performing eCommerce websites for 17+ years. PS: We’re also the #1 ranked eCommerce SEO agency

How long are online businesses open?

Online businesses are open 24 hours, 7 day a week and 365 days in a year and never sleep. Consumers can do transactions and enquiry about any product/services provided by company at anytime and anywhere from globe. Consumer can purchase any product in day or night using Internet connections and computer at single click of mouse.

What are the four perspectives of electronic commerce?

According to Kalakota and Whinston : "Electronic Commerce can be defined from following four perspectives : 1) Communications Perspective : Electronic commerce is the delivery of information, products/services, or payments via telephone lines, computer networks, or any other means. 2) Business Process Perspective :

What is electronic commerce?

Electronic Commerce commonly known as E-commerce or e-Commerce which denotes different types of transactions involved in commercial activities. It contains both organisational as well as individual activities which include the processing and transmission of digitised data such as text, pictures, sound and video, etc.

Why do people hesitate to disclose credit card numbers?

Customers feel hesitant to disclose credit card numbers over Internet because of security problems such as theft of credit card number. If consumers do not have any confidence on the online business, they will refuse to purchase anything over the Internet.

Why is ubiquity important?

For consumers, ubiquity cuts transaction costs for exploring products in a market. Consumers can acquire any information whenever and wherever they want, regardless of their location. It is no longer necessary that buyer spend time and money for traveling to a market. In all, it saves the cognitive energy needed to transect in a market space.

Why is face to face contact important?

Face-to-face contact and paper transactions are important in business deals and transactions since it is related to trust. So for any consumer switching from physical to online stores is difficult.

What is e-commerce service?

E-commerce covers many services over the Internet for example, customer service, banking, billing, marketing, retailing, secure distribution of data, corporate sector purchasing and other value-added services.

What is mobile banking?

1. Mobile banking: Mobile banking is an electronic medium of managing and making bank transactions via-a mobile device which is very popular now a day such as “Net Banking” by which customer has a bank account in a respective bank can handle their bank account as well as can view his/ her banking details for which banks use their apps for mobile banking.

How many people grab their phones after wake up?

In various surveys, it is noticed that almost 50% of the users grab their mobile phones immediately after wake up and checks multiple notifications and messages which engage them in the applications showing offers and sale offering discounts in monetary terms.

What is the definition of pervasiveness?

Pervasiveness: The term pervasiveness defines the easy accessibility of information in real-time, i.e., it is an easier way for the users to fulfill their desired products query. Accessibility: Devices like mobile and tablets are always nearby, the user can access it according to his convenience from anywhere.

What is the definition of "determination of place"?

Determination of Place: Targeting customers with mobile promotions within a defined geographical space.

What is M-commerce?

Definition: M-commerce was introduced by the Kevin Duffey in 1977 at the global forum launch and is defined as an innovative way of doing business over the internet, it is an extended version of E-commerce in which handheld devices are used instead of desktop for buying and selling of goods at any place any time . ...

Why do companies need reliable shipment companies?

Need reliable shipment companies: The Companies selling their products gets dependent on other shipment companies for delivery of their products to the end consumer safely.

Why do companies use this service?

Companies use this service to promote their products and services by giving their ads in between the contents generally searched by the users so that if there is any user who has a plan of purchasing their category of product will review their product and their sale will rise.

What is WooCommerce Marketplace?

The official WooCommerce marketplace has hundreds of free and paid extensions that add features and functionality to your store. From store enhancements to marketing integrations, multichannel and point of sale, extend your store as your needs and budget grow.

What is WooCommerce dashboard?

Built on WordPress, the WooCommerce dashboard is a familiar interface for store managers to update products and fulfill orders. Save time with automated tax calculations, live shipping rates from leading carriers, options to print labels at home, and the mobile app for iOS and Android.

How to boost sales on Google?

Boost sales by listing products on Google Shopping, promoting your store on Facebook, or emailing customers with Mailchimp. Track and report on your marketing efforts with Google Analytics.

Why use Jetpack?

Use Jetpack to secure your site with authenticated customer logins, prevent spam and brute force attacks, and increase speed. You also get backups, downtime alerts, and tax and shipping services.

Does WooCommerce work on WordPress?

It costs nothing to add WooCommerce to a WordPress site. There is no fee on transactions beyond that of the payment service provider, making WooCommerce the most affordable way to start selling physical and digital goods online and to scale from 1 to 100,000+ orders per day.

Is WooCommerce open source?

WooCommerce is open source, which means you have complete ownership of your store. Thanks to a REST API, WooCommerce is flexible and scalable, and integrates with virtually any service. Store data is accessible anywhere, anytime, and 100% secure. Build your store, your way.

Does WooCommerce accept PayPal?

WooCommerce comes bundled with the ability to accept major credit cards, bank transfers (BACS), checks, and cash on delivery. Beyond the basics, there are 140 region-specific gateways to choose from and integrate with, including WooCommerce Payments, Stripe, PayPal, Square, and Amazon Pay. Apple Pay, Google Pay, subscriptions, and deposits are also supported.

What is CMS in ecommerce?

Integrated CMS: Content Management System (CMS) is the need for any ecommerce website to manage and organize all the content of your ecommerce store. If you opt for an ecommerce website builder platform, you can choose the CMS according to your choice and ease of usage. However, if you opt for an ecommerce platform, you will find CMS integrated.The need for CMS is to provide a flawless experience to all the merchants irrespective of their technical know-how. Thus, making the management of online businesses more straightforward than ever. With the help of CMS, you can modify content, design, the layout of your store, and even the users that will manage your store.

What is the success of an online store?

The success of your store is not defined by the count of products you have, but it is about the sales you bring and count of satisfied customers you have. We know that you already have hundreds of tasks to handle in the backend, and that’s why we want to guide you with the ecommerce features that can automate some of those tasks. It will help you in the management of your online store and concentrate more on innovation with your business.

How to add support to ecommerce store?

Mostly, you can offer an email/telephonic support at your online store. But, if you like to offer chat assistance to your customers, check whether you can integrate third-party software to your store or not. You can add your social handles on your ecommerce store to let customers engage with your brand and connect in a better way.To offer better support to your customers, do enable live-chat support. 46% of customers prefer to opt for live chat, as it is the most comfortable and trouble-free medium of conversation. Live chat is known to improve to save 20% abandoned carts then the normal assistance ideas. When the customer queries are addressed in real-time, you will find more happy customers around. Satisfied customers are known to bring new customers to any business.

What happens if you don't integrate shipping?

Shipping integrations: If you don’t integrate your store with any shipping service provider, your customers won’t be able to track the live status of the product. When several other ecommerce businesses are offering this service, you will be left out of the race. By comparing the shipping services, the number of pin-codes serviceable, international shipping, and quoted rates, you can select the best shipping company to integrate with your ecommerce store. After integrating the API of the shipping service provider to your online store, the shipping rates that you have mentioned will be automatically displayed to the user. As soon as the order is placed, the notification for pick-up will be sent to the registered shipping company. The order will be picked up from your location, and a shipment tracking number will be updated in the database. Thus, it streamlines one of the crucial steps in the order fulfillment and eliminates one of the tasks that you will be handled manually.

How to accept payments on ecommerce?

You can accept money via debit/credit card, UPI, digital wallets like Paytm, OxygenPay, Apple Pay, bank transfers like IMPS/NEFT. To accept the amount via net banking or cards, you need to install payment gateways at your store. Before integrating any payment gateways, check whether they are compliant with PCI standards. When you sell globally, the payment will come in different currencies in your account. For such conditions, you can enable PayPal, Skrill, and others to accept and process the transactions worldwide.

How to improve engagement at your store?

Marketing tools: The marketing options like discounts, promo codes, coupon creation, can help you improve the engagement at your store. Integrate marketing tools like email marketing, Google Analytics, and many others can help you make optimum utilization of the data you will collect with the CRM and create the marketing funnel. Unless you set the end goals for your campaigns, you will just keep spending thousands and more but won’t be able to utilize it.The integration of numerous tools at your store will help you automate your marketing efforts rather than manually managing things at every stage of your business.

Why add a search bar in your store?

Add a search bar in your store to let customers find the right product when they know what they are looking for.