Trends in E-Commerce

These flashcards encompass key vocabulary and definitions related to trends in e-commerce from the provided lecture notes.

E-commerce

Buying and selling of goods or services using the internet.

B2B E-commerce

Business-to-business e-commerce; transactions conducted between businesses online.

B2C E-commerce

Business-to-consumer e-commerce; selling directly to consumers over the web.

Extranet

A network that connects the intranet of a business to external partners, suppliers, or customers.

Electronic Data Interchange (EDI)

The computer-to-computer exchange of business documents in a standard electronic format.

Conversational commerce

Building relationships with customers through direct communication during the shopping process.

Customer service on social media

Using social media platforms to address customer inquiries and support issues.

Payment card fraud

Fraudulent activity involving the unauthorized use of a credit card for online purchases.

Channel conflict

Disputes among stakeholders when a manufacturer competes with its own distributors in selling products.

Chatbot

A software application that simulates human conversation for providing customer support.

SEO (Search Engine Optimization)

The process of improving the visibility of a website in search engines.

Order-processing expenses

Costs associated with the steps in fulfilling customer orders.

Encryption

The method of securing data by converting it into a code to prevent unauthorized access.

Mobile checkout

A purchasing process that allows consumers to complete transactions using mobile devices.

Data analysis

The process of inspecting, cleansing, transforming, and modeling data to discover useful information.

Supply management

The process of managing and optimizing the supply chain to improve efficiency and reduce costs.

Multichannel retail experience

A shopping experience that integrates multiple channels to facilitate customer interactions.

Phishing

A fraudulent attempt to acquire sensitive information by disguising as a trustworthy entity.

Augmented reality

An interactive experience where real-world elements are enhanced with digital information.

Strategic planning

An organization’s process for defining its strategy or direction, and making decisions on allocating resources.

Internet fraud

Dishonest online activity, including scams, identity theft, and financial fraud in the e-commerce space.