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E-commerce is the buying and selling of goods and services over the internet, typically through websites or mobile apps.
What is E-commerce
E-commerce (electronic commerce) refers to the process of buying and selling goods and services over the internet. It involves various online transactions, including retail shopping, online banking, and digital services. E-commerce platforms, such as websites, apps, and marketplaces, enable businesses and individuals to conduct business electronically, making it possible for consumers to purchase products, pay for services, and manage their accounts from anywhere in the world, at any time.
Type of E-commerce
Business sells directly to consumers
Example: Amazon, Netflix, Zara
Business sells to other businesses
Example: Alibaba, Grainger, Salesforce
Example: eBay, Craigslist, Facebook Marketplace
Consumers offer products or services to businesses
Example: Upwork, Shutterstock, Airbnb
Business sells to government entities
Example: GovWin, General Dynamics
Consumers interact with or make payments to the government
Example: Pay.gov, Tax filing services
Brands sell directly to consumers, bypassing intermediaries
Example: Warby Parker, Glossier, Casper
E-commerce conducted via mobile devices
Benefit of using E-commerce
Convenience
Available 24/7, customers can shop from anywhere at any time.
Cost Savings
Reduced overhead costs (rent, utilities) and lower transaction costs.
Global Reach
Sell to international customers, reaching a wider audience.
Increased Customer Base
Access a larger, more diverse customer base with targeted marketing and personalized offers.
Improved Customer Experience
Easy comparison, quick checkout, and flexible payment options enhance the shopping experience.
Scalability
Easily scale business operations, add new products, or enter new markets with minimal cost.