How Electronic Commerce Is Affecting American Industry Essay

ELECTRONIC-Commerce How It Is Affecting American Industry The Internet over the past few years has seen a huge increase in online businesses and consumers. Electronic-commerce is expected to generate $36 billion in revenue during 1999, up 140% from last year alone.[1] With such a huge amount of money to be made on the Internet it is becoming very appealing for small businesses and start-up companies to try and make their niche in e-commerce. The Internet is drastically affecting the way companies and people conduct business now. E-commerce encourages growth in existing as well as new businesses because of lower overhead costs, the huge consumer base and the freedom of information flow. However the online revolution has created a large†¦show more content†¦This also gives the consumer much more information and freedom over their purchases. The greatest thing about the Internet is the immense amount of information that is supplied by the online businesses. Companies can now cater directly to the consumers needs through a comprehensiv e website which details their exact information. Consumers also have the freedom to shop around on numerous other sites or do research on the product from their homes. A store can only provide the product with the limited information given on a box or by a third party that does not always give you the freedom to search and find the important information needed to make purchases. The Information Super-Highway gives the consumer total control over there needs because of the information that is distributed. There is however a downside to e-commerce. People do not feel completely confident about buying online as of yet. When you make a purchase on the Internet you must give your credit card or other important information like social security numbers and e-mail addresses. Customers are also weary about giving away this kind of information because some companies use this information to find information on their customers and even sell it to other companies. The Internet is also a new medium that does not yet have many laws governing it, which can also lead to some misgivings by consumers. The freedom that the Internet creates makes it easy for companies to flourish with giving theirShow MoreRelated E-Money: Affecting Canadian Commerce Essay1188 Words   |  5 PagesE-Money: Affecting Canadian Commerce The text Out of Control, by Kevin Kelly, is an exciting description of the future as seen by the author, a journalist and optimistic technologist. The predictions presented must certainly be taken as entertaining reading that are intended to inspire visions of the future. The predictions of Kelly have already proven to be inaccurate in the four years since publication. The most glaring example of this is electronic commerce. 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