[originaltext] Electronic Commerce or e-commerce refers to the exchange of g

Electronic Commerce or e-commerce refers to the exchange of goods and services by means of the Internet or other computer networks. E-commerce follows the same basic principles as traditional commerce-that is, buyers and sellers come together to exchange goods for money. But rather than conducting business in the traditional way-in mores or through mail order catalogs and telephone operators-in e-commerce buyers and sellers do business over networked computers.
    E-commerce offers buyers convenience. They can visit the World Wide Web sites of multiple sellers 24 hours a day and seven days a week to compare prices and make purchases, without having to leave their hones or offices. In some eases, consumers can immediately obtain a product or service, such as an electronic book, a music file, or computer software, by downloading it over the Internet.
    For sellers, e-commerce offers a way to cut costs and’ expand their markets. They do not need to build staff, or maintain a store or print and distribute mall order catalogs. Because they sell over the global Internet, sellers have the potential to market their products or services globally and are not limited by the physical location of a store.
    E-commerce also has some disadvantages, however. Consumers are reluctant to buy some products online. Online furniture businesses, for example, have failed for the most part because customers want to test the comfort of an expensive item such as a sofa before they purchase it. Many people also consider shopping a social experience. For instance, they may enjoy going to a store or a shopping mall with friends or family. Consumers also need to be reassured that credit card transactions are secure and that their privacy is being respected.