To what degree does trust affect the competition in E-commerce Essay

To what degree does trust affect the competition in E-commerce - Essay Example This research will begin with the statement that e-commerce or electronic commerce is a type of commerce where buying and selling of products and services are virtual, in that it is conducted across electronic platforms like the internet and other computer-enabled networks. E-commerce is a recent development has cropped up after the introduction of the computer and the internet. In the virtual world of e-commerce, trade becomes a process of communicating via systems that connect the buyer and seller in a virtual marketplace. Like in the other common types of commerce, e-commerce involves a lot of communication between the buyer and the seller in such a way that, the interaction buffers the deficit created by the existence of a virtual trading platform, which deviates from the one-on-one contact in typical trading. E-commerce utilizes several technological developments in the world of commerce, communication, marketing, data exchange, payments and computers among other major developme nts that enhance execution of e-commerce. These developments include; internet marketing, electronic funds transfer, mobile commerce, electronic data exchange (EDI), online transaction systems and automated data collection among other technologies. E-commerce relies on a set of technologies to successfully execute transactions. A typical e-commerce transaction starts with a customer visiting a company’s website that acts as a virtual store for products and services that the company deals with. The customer shops for the products and places an order of one or several items in the store.