Business RelationsOctober 23, 2020
Ecommerce, short for electronic commerce, is doing online business, including selling and buying products with credit card or digital money, by transport of data between different companies using networks, like the Internet. More precisely ecommerce is the assortment of tools and practices involving Internet technology that allow a company to create, maintain and optimize business relationships with consumers along with other businesses. The real sense of ecommerce is the company on the web of which there are very different manners, like opening a retail shop on the internet, where each of the transactions are done on line, from choice of merchandise to payment of bills.
The overall volume of ecommerce is greater than $4 billion yearly. Conducting business on the internet isn’t a very pricey investment. It is estimated that in the not too distant future, almost 25 percent of traditional business will be transformed into internet business. Ecommerce is an info technology trend developing fast in the corporate world. As we begin warming up to global ecommerce in Pakistan, we must understand that nearly 78 percent of the ecommerce activity takes place from the United States, obviously driven by the use of the internet in that nation. As of January 2000, over 110 million people have access to the internet there compared to 279 million the world over.
The quantity of net users are speeding up every day all around the world and the same is the tendency with Pakistan. In 1995, the number of internet users in the world was nearly 16 Millions, but now in 2008 it flew high to nearly 1400 Million. 01% of Pakistan inhabitants use the internet, but in 2008 this speed went high and now it is almost 14.1% of the total population. The individuals in Pakistan are gradually getting aware of the fact that business on the web is less expensive and is more beneficial. Ecommerce is a broad term used to quantify the trading taking place on the web.
Entrepreneurs in Pakistan are of the opinion that e- commerce means being capable of making and get payments via net and any other business through internet isn’t considered as ecommerce. No rules have been established on the way to tax ecommerce or ascertain Electronic residence in Pakistan. Following the government understands the importance of e Commerce, they asked each of the universities to do and Commerce the part of their syllabus. In Pakistan, ecommerce is still in its infancy and faces many obstacles to grow. Misconception of e Commerce in Pakistan o Mistrust of Low Literacy Rate of Access to Technology is late o Policies of Government o unavailability of adequate infrastructure o limited user of internet hardly one percent of the whole population have internet access] o the issue of security of transactions on the web o high bandwidth rates o the rigid and monopolistic role of the PTCL.