By Trideeb Das
You are on the way to your cafeteria, while getting money from the ATM, you recharged your mobile phone, paid a few basic amenity bills ( the options that you currently get in ATMs) and also looked into the menus available for day to day items and ordered a full list of house hold goods. Time is not very far away to get these options. While retail shopping markets getting crowded, supply chain and carrying the same items that you buy every weekend over and over again become a challenge for the heavy scheduled human beings, there could not be a better option that your ATM starts delivering your house hold items. Well, virtual retail stores are not just in imaginations. Last year, a major South Korean retailer Homeplus owned by British giant Tesco opened a virtual store in a busy Seoul subway station, for increasingly sophisticated smart phone users to order groceries and more.
Electronic commerce, commonly known as e-commerce, is the buying and selling of products or services over electronic systems such as the Internet and other computer networks. With more and more websites and a full world of retail in internet that gets referred as e-commerce, multiple new technologies and inventions adding to the user experience in digital world, digital commerce is the new name of electronic commerce.
Online shopping was invented by Rediffusion Computers employee Michael Aldrich in Great Britain in 1979. Since May- 1984, at Gateshead in England resident Jane Snowball, the first online shopper who purchased items from Tesco; e-commerce has evolved multiple folds. Currently B2C product sales totaled $142.5 billion and expected to be $279 billion in 2015.
Digital commerce, the new face of electronic commerce is going to be touching everyone’s life in the times to come. While ecommerce world and websites from the nascent state has become full blown business in last decade, everyone is waiting to see the technology boom that is going to start common people after the recession period. According to a study, global e-payments and m-payments going to be almost double to $ 1.6 trillion by 2013. The number of global e-payments (online payments for e-commerce activities) is expected to grow from 17.9 to 30.3 billion transactions between 2010 and 2013, while m-payments are expected to grow from 4.6 to 15.3 billion transactions in the same period comes as the proof to revolutionize digital ecommerce.
With technology trends, analytics and big data would play one end predicting consumer behavior and branding through social networking sites, payment processing going to provide next level of technology evaluation to support seamless processing of holistic shopping process.
It would be interesting where you would be buying your groceries next year…
