Electronic commerce, commonly known as e-commerce, refers to the buying and selling of goods and services over the internet. It involves a variety of online transactions, including online shopping, electronic payments, online auctions, and digital content distribution. E-commerce has revolutionized the way businesses and consumers interact by providing a convenient and efficient platform for conducting commercial activities without the need for physical presence.
E-commerce encompasses different models, such as Business-to-Consumer (B2C), where businesses sell products directly to consumers, and Business-to-Business (B2B), where businesses transact with other businesses. It also includes Consumer-to-Consumer (C2C) platforms that enable individuals to sell products or services to other individuals through online marketplaces.
E-commerce platforms offer various features and functionalities, including online catalogs, secure payment gateways, shopping carts, and customer reviews. It has significantly expanded global reach, allowing businesses to connect with customers worldwide and opening up new market opportunities.
Security, privacy, and efficient logistics are crucial aspects of e-commerce, as they impact customer trust and satisfaction. As technology continues to evolve, e-commerce continues to shape the way people shop, businesses operate, and the economy functions as a whole.