Digital Commerce Basics

What is digital commerce?

• Digital commerce is the exchange of physical goods only.

• Digital commerce is the buying and selling of goods and services using the internet and electronic devices.

• Digital commerce involves face-to-face transactions only.

• Digital commerce is limited to cash payments.

Name one key component of digital commerce.

• Online payment systems

• Telephone orders

• In-store shopping

• Cash on delivery

What are some examples of digital platforms used for digital commerce?

• teams

• Shopify, WooCommerce, Magento, BigCommerce, Squarespace

• apple

• EA-SPORTS

Explain the concept of online transactions in digital commerce.

• Online transactions are always unsecured

• Online transactions in digital commerce involve the exchange of goods or services for money through electronic means, typically using secure payment gateways and encryption to ensure data security.

• Online transactions involve physical cash exchanges

• Online transactions do not require encryption

How do electronic payments play a role in digital commerce?

• Electronic payments have no impact on digital commerce

• Electronic payments are not secure for online purchases

• Electronic payments provide a secure and convenient way for customers to make purchases online, driving the growth of digital commerce.

• Electronic payments are only used for in-person transactions

What are some challenges faced by businesses in implementing digital commerce?

• Supply chain management, customer service, product development

• Cybersecurity threats, data privacy concerns, integration with existing systems, user adoption, competition from established online retailers

• Financial planning, inventory management, market research

• Weather forecasting, social media marketing, employee training