What is ecommerce? Ecommerce which stands for electronic commerce, is a form of conducting business over the Internet by using online transactions to buy and sell either products or services. The creation and development of electronic commerce is directly a result of the evolution and spread of the Internet. Over the years e-commerce has seen explosive growth and an even brighter future.
Initially, the lack of central authority to define rules and sanctions left some fearing that the Internet is unsafe for the development of commercial activities. Using the Internet for commercial purposes has long been rejected on these grounds. The goal of the major players involved with the development of the Internet in the 80s and 90s was to have free and open sharing of information. Widespread access to the Internet has completely changed all of that.
Over the years, the Internet has turned into a major platform for businesses to reach customers from all over the world and build upon their brand. As online security slowly began to improve, more and more people feel comfortable shopping online. Now the trend is so widespread that it’s hard to imagine anyone with access to the Internet not visiting and buying from an ecommerce website.
For a business, what is ecommerce?
In the beginning, only major businesses with huge budgets were able to develop ecommerce websites, because hiring a web designer costs a lot of money. Currently all of the major offline retailers have a presence online. Fortunately in recent years more and more small businesses are starting online stores as well, because the barrier to entry decreased dramatically due to the development of all-in-one ecommerce solutions. Now retail businesses both big and small are able to expose their products to millions of people on the Internet, which if marketed properly could dramatically increase profits for the business.
For a consumer, what is ecommerce?
In this new age of the Internet, nothing beats the convenience that e-commerce has brought people all over the world. Not only are they able to find just about anything their hearts desire online, they can also compare online retailers to find the best deal on the same product. Consumers are no longer limited to what’s available outside their doorstep, they have access to things halfway across the world. There is also no need to make a trip to a store, ecommerce allows consumers to buy anything they want 24 hours a day no matter where they are.