What is ecommerce (or electronic commerce)?
The term electronic commerce (eCommerce) refers to a company model in which consumers and firms may buy and sell products and services online. Ecommerce transactions may take place on PCs, tablets, smartphones, and other smart devices, with many different goods and services accessible through them. Through ecommerce transactions, you can purchase almost everything imaginable: books, music.
In simple words, ecommerce is the business of buying and selling products and services over the Internet.
The impact of ecommerce on the global economy
Ecommerce has revolutionized the way people shop and consume products and services. More and more individuals are using their computers and smart devices to purchase goods, which can be delivered straight to their doors. As a result, the retail environment has been disrupted. Amazon and Alibaba have gained a large following, forcing traditional shops to adapt their methods of operation.
That is not all, however. Individual merchants have increasingly engaged in ecommerce transactions through their own personal websites, to be sure. And digital marketplaces like eBay and Etsy act as exchanges where buyers and sellers from across the world come together to do business.
Starting 2020 ecommerce grows exponentially due to the
It is estimated that in 2025 that ecommerce will see $563 billion in revenue just in the United States.