"e-Commerce And Security Measures" – Coursework Example

E commerce E Commerce The invention of robust online tools coupled with faster internet connectivity hasushered in a new era of commerce-Ecommerce. Basically, electronic commerce (ecommerce) is a business model that makes it possible for an individual or a firm to transact via the internet. E commerce is conducted via all the four main market segments; B2B, B2C, C2C, and C2B. Today, nearly all services and products can be transacted via ecommerce. Like all services, ecommerce has its advantages and disadvantages when compared with the traditional model of commerce.
When compared to traditional commerce, e commerce is advantageous since it increases the transaction speed (Reynolds, 2000). Having a fast internet and powerful online tools in addition to having a means for customers to purchase products reduces the business cost for both the buyer and the seller. As such, possessing a virtual store is cheaper than having a traditional real store. This is because it’s cheaper to host a website than to pay utilities, employees and rent. Also, when transacting via ecommerce, there are no queues. In a real store, a customer has to stand in line and wait for his turn to be served. This is among the major convenience ecommerce accords its customers. Further, it’s easier to compare product and service prices online since various shopping websites are readily available. On the other hand, ecommerce lacks the personal touch which is available in traditional commerce. Also, the buyer can not feel, smell or see the product before purchasing it.
The B2C ecommerce model is the most widely used. Primarily, ecommerce is viewed as the selling of a product by a business to a consumer (Plant, 2000). As such, B2C is the most common model. During cyber Monday, more consumers choose to shop online. This creates a cyber-security issue since website attacks and internet fraud increase tremendously during cyber Monday. Thus, frauds use cyber Monday to bait customers via phishing emails and spam. Therefore, cyber Monday is not as important as it was due to the increase in fraud.
References
Plant, R. T. (2000). eCommerce: formulation of strategy. Prentice Hall PTR.
Reynolds, J. (2000). eCommerce: a critical review. International Journal of Retail & Distribution Management, 28(10), 417-444.