Chapter 1 mobile commerce

What is E-Commerce?

Digitally enabled commercial transactions between organizations and individuals, using the Internet to transact business.

What are transaction costs in E-Commerce?

Extra costs incurred beyond the price of a product, such as searching for products, reading reviews, payment, and delivery.

What is meant by global reach in E-Commerce?

The ability to reach customers beyond local or regional boundaries.

What is information richness in E-Commerce?

The ability to present information in various formats such as text, audio, and video.

What are the types of E-Commerce?

Business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C), mobile e-commerce (M-commerce), social e-commerce, and local e-commerce.

What percentage of total E-Commerce does B2B represent by 2024?

About 70%.

What is the forecasted size of B2B E-Commerce by 2026?

$36 trillion.

What is the significance of the FTC $5 billion fine against Facebook?

It raises questions about the sufficiency of penalties for data privacy violations and the protection of user data.

What are the key technologies of E-Commerce?

The Internet, the World Wide Web, and mobile platforms including smartphones and apps.

What does ubiquity mean in the context of E-Commerce?

Availability of services everywhere at any time.

What is the difference between E-Commerce and E-Business?

E-Commerce refers specifically to online transactions, while E-Business encompasses all aspects of running a business online.

What is information asymmetry in E-Commerce?

A disparity in relevant market information among parties involved in a transaction, where customers may not know the true quality and cost of products or services.

What are the key features of E-Commerce technology?

Ubiquity, global reach, universal standards, information richness, interactivity, information density, personalization/customization, and social technology.

How does interactivity enhance E-Commerce?

It allows for multi-way communication between businesses and customers.

What is personalization/customization in E-Commerce?

Tailoring content based on user behavior, preferences, and history.

What was the total E-Commerce market size in 2022?

$9.7 trillion.

What are some major technology trends in E-Commerce?

Mobile platforms, cloud computing, Internet of Things, big data, artificial intelligence technologies, blockchain, Web3, and the Metaverse.

What social trends are impacting E-Commerce?

User-generated content, privacy concerns, market dominance of Big Tech, online security issues, and conversational commerce.

Why does E-Commerce collect user data?

To enhance user experience, target marketing, and improve services.

What ethical concerns are associated with E-Commerce?

Issues related to privacy, data security, and the ethical use of user data.

What role does GenAI play in E-Commerce?

GenAI is seen as a potential game changer in shaping online shopping experiences and improving business operations.

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