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E-Commerce – New Trade Trends

It is sometimes considered a subset of e-commerce when it comes to the notion of e-commerce. Furthermore, e-commerce focuses on online (externally oriented) purchases, but e-business is the use of the Internet and online technology to establish an effective company process, whether profitable or not, therefore increasing the advantages to consumers (internal focus).

The following are some examples of e-commerce ideas as described by world-renowned organizations:
“E-commerce encompasses trading in the exchange of products and services between electronic groupings (individuals) largely through Internet-based systems,” according to the E-Commerce Committee of the Organization for Economic Cooperation in the Asia-Pacific (APEC). Email, EDI, the Internet, and Extranet are examples of communication tools that may be used to assist e-commerce.

Application Of E-Commerce In Business

Automation documentation in supply chain and logistics
Domestic and international payment system
Business Management
Buying group
Online Automated Assistant
IM (Instant Messaging)
Shop online and track orders
Online office
Cart software
Online media workshops

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E-commerce is now widely used in sectors that buy “digital” material for rapid online purchases, allowing orders and regular services, as well as “meta” services, to assist other types of e-commerce. Large firms and financial institutions utilize the Internet to share financial data to facilitate local and international transactions at the organizational level. In e-commerce, data integrity and security are major topics.

E-commerce is currently classified into the following categories:

If divided by audience, there are 3 main subjects: Government (G – Goverment), Business (B – Business) and Customer (C – Customer or Consumer).

If you combine one of these 3 subjects, there will be 9 forms by participants: B2C, B2B, B2G, G2B, G2G, G2C, C2G, C2B, C2C. In particular, the main forms of e-commerce include:

Business with Business (B2B)

Business with Customers (B2C)

Business with government (B2G)

Customer with Customers (C2C)

Mobile commerce (M-commerce for short).

E-commerce – A New Global Trend

Traditional ways of buying are being phased out in favor of online shopping. This sort of form is predicted to grow in popularity in the near future due to customer convenience and time savings. This is a novel technique of doing business that contributes to the advancement of the trade industry as a whole. It also serves as a foundation for the development of other businesses. For instance, consider the advertising sector, the Internet, and transportation.

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Because of e-usability commerce’s and internationalization. Businesses can diversify their businesses by entering overseas markets. Create a worldwide trading system that is open to everybody. This is advantageous to both product and service companies as well as customers. You may now shop for things from all over the world from the comfort of your own home using internet portals.

Vietnam’s Legal Framework

The Electronic Transactions Act was enacted by Congress in November 2005. The government adopted Decree No. 57/2006/ND-CP regarding e-commerce in June 2006.

The Vietnamese government issued Decrees No. 27/2007/ND-CP dated February 23, 2007 “On electronic transactions in financial activities,” No. 26/2007/ND-CP dated February 15, 2007 “Detailing the implementation of the Law on Electronic Transactions on Digital Signatures and Digital Signature Authentication Services,” and No. 35/2007/ND-CP dated March 8, 2007 “On electronic transactions in banking operations” in early 2007.