The Rise of Electronic Trading: Benefits, Drivers, and Success Stories - Learn from Amazon.com's E-commerce Triumph
It has also been described as a "fusion of telecommunications and computing technology to conduct business. That is the creation and management of relationships between buyers and sellers, facilitated by an interactive and pervasive electronic medium" . Some of the main reasons for the increase in electronic trading are:
- the drive to reduce the costs;
- easy accessibility to the Internet;
- the lack of regulation on the Internet;
- access to global markets for vendors;
- greater choice and potentially lower prices for purchasers;
- lower inventory costs for vendors;
- the ability to enter new markets more easily.
The above is not an exhaustive list. Amazon.com One of the best known examples of a successful entrant into the e-commerce trade is Amazon.com, which sell books and music on-line. It was not an established book or music retailer before setting up its website, htt://www.amazon.com. The company is essentially a software company which has set up relationships with book vendors, warehouses and logistics organisations.