What do you mean by e-commerce?
What is E-Commerce?
E-commerce (short for electronic commerce) refers to the buying and selling of goods and services over the internet. It involves online transactions between businesses, consumers, or a combination of both, and uses electronic platforms such as websites, mobile apps, and online marketplaces.
Main Features of E-Commerce
- Online Shopping: Customers can browse, select, and purchase products or services from anywhere with internet access.
- Electronic Payments: Payments are made electronically using methods like credit cards, digital wallets, or online banking.
- Order Processing: Orders are managed digitally, including inventory management, shipping, and customer service.
- Business Models: Includes Business-to-Consumer (B2C), Business-to-Business (B2B), Consumer-to-Consumer (C2C), and Consumer-to-Business (C2B).
Benefits of E-Commerce
- Convenience for customers and businesses
- Wider reach to national and international markets
- Lower operational costs compared to traditional retail
- Ability to operate 24/7
Popular examples of e-commerce platforms include Amazon, eBay, Alibaba, and Shopify.