What is ecommerce

What is ecommerce?

Ecommerce or Electronic Commerce refers to buying and selling products and services using the internet and making transactions to buy these goods and services through the internet.

These goods may include buying anything from grocery to mobile phones, laptops and other electronic items, textile products, spare parts and services.

The most popular form of e-commerce is online shopping. Online retail stores have become one of the most popular ecommerce websites in the world. Millions of consumers order items of their choice using an online store. In 1995, Amazon sold their very first book. In 2015, Americans spent over $341 billion online.

-In 2018, global e-retail sales grew 22.8 percent compared to the previous year. During that period, retail e-commerce sales accounted for 12.2 percent of global retail sales.

Facts & Figures

-In 2017, ecommerce was responsible for around $2.3 trillion in sales and is expected to hit $4.5 trillion in 2021 (according to a Statista report).

-In the US alone, ecommerce represents almost 10% of retail sales and that number is expected to grow by nearly 15% each year!

-Amazon accounted for 44% of all U.S. ecommerce sales

-U.S. shoppers spent $5 billion online during 2017’s black Friday

-According to Nielsen, 50% of redeemed mobile coupons are captured directly from a retailer’s site by the consumer.

Types of E-Commerce Models

-Business to Business

-Business to Consumer

-Consumer to Business

-Consumer to Consumer

Examples of best eCommerce websites

Amazon

Flipkart

eBay

Fiverr

Upwork

Olx

Quikr

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