E-Commerce

E-Commerce:-

Ecommerce is the buying and selling of goods or services on the Internet. It encompasses a wide variety of data, systems and tools for online buyers and sellers, including mobile shopping and online payment encryption.

History of E-commerce:-

Most of us have shopped online for something at some point, which means we've taken part in e-commerce. So it goes without saying that e-commerce is everywhere. But very few people may know that e-commerce has a history that goes back to before the internet began.

E-commerce actually goes back to the 1960s when companies used an electronic system called the Electronic Data Interchange to facilitate the transfer of documents. It wasn't until 1994 that the very first transaction. took place. This involved the sale of a CD between friends through an online retail website called .

The industry has gone through so many changes since then, resulting in a great deal of evolution. Traditional brick-and-mortar retailers were forced to embrace new technology in order to stay afloat as companies like Alibaba, Amazon, eBay, and Etsy became household names. These companies created a virtual marketplace for goods and services that consumers can easily access.

E-commerce Defined: Types, History, and Examples:

Electronic commerce:-

(e-commerce) refers to companies and individuals that buy and sell goods and services over the internet. E-commerce operates in different types of market segments and can be conducted over computers, tablets, smartphones, and other smart devices. Nearly every imaginable product and service is available through e-commerce transactions, including books, music, plane tickets, and financial services such as stock investing and online banking. As such, it is considered a very disruptive technology.

KEY TAKEAWAYS:

Ÿ E-commerce is the buying and selling of goods and services over the internet.

Ÿ It is conducted over computers, tablets, smartphones, and other smart devices.

Ÿ Almost anything can be purchased through e-commerce today, which makes e-commerce highly competitive.

Ÿ It can be a substitute for brick-and-mortar stores, though some businesses choose to maintain both.

Ÿ E-commerce operates in several market segments including business-to-business, business-to-consumer, consumer-to-consumer, and consumer-to-business.