E-commerce, also known as “electronic commerce,” is the buying and selling of goods or services electronically on the internet. It can also refer to other online activities like online auctions, ticketing and banking. E-commerce is an essential part of many businesses that rely on the sale of physical products or services online.
E-commerce is a huge part of the economy and is vital to businesses that sell their products or services online. E-commerce gives businesses the ability to reach more customers than traditional retail. With so many people making their purchases online, it is the fastest-growing retail market.
Statistics show that 96% of Americans with access to the internet have made a purchase online. E-commerce offers consumers a more convenient way to shop for the products or services they need without having to visit a retailer’s physical location to make a purchase.