Internet technology is having a profound effect on the global trade in services. The Internet will also revolutionize retail and direct marketing. Consumers will be able to shop in their homes for a wide variety of products from manufacturers and retailers all over the world. Commerce on the Internet could total tens of billions of dollars by the turn of the century. Official decision makers must respect the unique nature of the medium and recognize that widespread competition and increased consumer choice should be the defining features of the new digital marketplace.
Electronic commerce is about doing business on the web.
It is about being able to contact millions of people 24 hours a day seven days a week. People shop only when they have time to shop. So, if you have a great idea and some spare time e-commerce offers the perfect opportunity for you to set up a business in a record amount of time. Market researchers are indicating that e-commerce has a very bright future. All the predictions about the future of e-commerce are extremely positive.