Role of internet in E-commerce
Internet provides a worldwide collection of networks, linked with each other to share information by using a common set of protocols. The Internet opens up the opportunity for people all over the world to get linked inexpensively and consistently. Since it is a large network of people and information around the world, the Internet is an enabler for e-commerce as because it allows businesses to showcase and sell their products and services online. It gives potential customers, prospects and business partners access to information about these business houses and their products and services which might lead to purchase.
Earlier companies used private networks, such as – Electronic Data Interchange (EDI), to execute business transactions. Such was the premature form of eCommerce. But the maintenance cost of such private networks was very high. With the rapid growth of low-cost high-speed internet, e-Commerce industry has grown multifold times.