E-Commerce in simple terms can be explained as buying and selling of goods and services. One of the prominent marksis the use of electronic systems such as Internet and other computer networks for this type of business. The amount and volume of business that is conducted over such mediums has raised manifold over the years with the increase and adoption of Internet. The growing number of Internet users, (estimated to be more than 1.4 billion worldwide) coupled with increased Internet Connectivity, has contributed to raise in spends for online budgets. Traditional promotion agencies with mega budgets are turning to online medium of promotion to gain more cost for their buyers in times of such monetry and economic suffering. Internet banking has gained fame over the past couple of years, with more than 30 per cent of Internet users utilizing such services in chief markets world over. Better connectivity and raise connection speeds has benefited this industry immensely. More than 19 out of 20 internet connections in UK are conducted via Broadband. As on, 31 December 2008, broadband connections accounted for 95.1 per cent of all Internet Connections in UK. (Source: ONS). entertainment} and Publishing industry is probable to be valued at over 2 trillion dollars. e-Commerce Past Performance Figures: Europe And Asia e-Commerce Statistics: Prior to 2001, E-Commerce was still being explored in Europe. Even in the UK only 24 per cent of companies had own business websites, with only 10 per cent accepting orders online. However, by late 2002, e-Commerce was firmly established in the UK, with 10 million visiting e-Commerce sites compared to the same period in Christmas 2001. This figure was around around 70 per cent of the Internet population in UK. A survey conducted in 2002 of European e-Commerce industry, pegged its revenues at $980 billion by 2004. Finally, it's cost remembering that 75 per cent of Internet users by 2005 was probable to be located in Europe and Asia. Internet sales by UK businesses was around 163 Billion Pounds in 2007 information} published by the Office for National Statistics (ONS) indicate. This is an raise of just over 30 per cent on the 2006 figure of 125.2 Billion Pounds. Canada: The Canadian e-Commerce information}In 2002, over 75 per cent of 12.3 Million Canadian homes had PCs. More than 55 per cent or around 6.7 Million of those homes had Internet connections. This statistic was up 51 per cent over 2002 figures. Of the Canadian population more than 64 per cent always go online from home or work (2003), 5per cent gain over 2002 . The granular data segments further that more than 12 per cent bought always over web. 38 per cent of people had bought more compared to 2001. 38 per cent of Canadians downloaded music, 58 per cent conducted banking transactions from home via the web. 64 per cent of wired households used broadband internet connections in 2002. e-Commerce Recent Performance Figures: Sales are probable to continue to grow on the internet and online stores are likely to attain upper benefits. Developing Countries In many benefits countries like Kenya and India mobile commerce is being viewed as an opportunity to reach the masses, that would not otherwise use m-payment or m-banking services. In fact, more than 30 per cent of Vodafone's 10 million subscribers in Kenya are using some form of mobile commerce for online banking transactions. Internet users in China spend the highest proportion (approx 40 per cent) of their leisure time online, compared with an average of 30 per cent for US web users and 28 per cent for the UK. United States and United Kingdom Recent e-Commerce Statistics. promotion through social networks is set to grow from 920 million dollars in 2007 to 1.6 billion dollars in 2008. Advertisers in US are set to spend more than 1.6 billion dollars on social networking sites alone. Online promotion accounted for nearly 15 per cent of the total promotion in United Kingdom clocking more than 40 percent YOY(year on year) growth. The top 10 retailers online during the 2008 Christmas shopping period (Q4) averaged a 37 per cent raise in particular Visitors compared to the 2007 Christmas shopping period. The five major retail-focused sectors online averaged a 19 per cent raise in particular Visitors during the 2008 Christmas shopping period (Q4) compared to the 2007 period. The biggest retail sector, Mass Merchandisers (which includes retailers such as Amazon, Argos and Tesco), increased particular Visitor numbers by 15 per cent in the 2008 Christmas period compared to the 2007 period. Amongst the five major retail sectors online, Multi-Category Home & Fashion (which includes sites such as Marks & Spencer, Boots and Next) had the largest YOY (year-on-year growth) of over 30 per cent. Source: (Nielsen Online). Revenues of e-Commerce market in 2007 was valued at 400 million pounds in UK. The market has continued to show healthy growth across previous years, growing by an estimated 18 per cent in 2008. UK shoppers spend 13.16 billion pounds online in the last quarter of 2008, 15 per cent more than Q4 2007. This equates to 215 pounds for every person in the UK, but represents a slowdown compared with the 54 per cent YOY(year-on-year) raise in 2007. 55 per cent of UK adults have purchased something online. The UK market for seek Engine Marketing was pegged to be worth in the region of 2.75 billion pounds in 2008. The SEO market will raise 32 per cent to 330 million pounds. The UK market for affiliate marketing grew by an estimated 45 per cent in 2007, taking the total cost of online sales generated through this channel to more than 3.13 billion pounds. vast surge of e-Commerce market has its fair share of critics as well. There are many instances of small businesses spending vast sums of money and deriving reasonably additional returns on such investments. There are multiple issues which needs to be address like : 'Language barriers. 'Lack of cross-border logistical support for goods and services. 'Conservative banking attitudes. 'apparent}}to be more convenient than shopping in stores.
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