What is eCommerce?
Business transactions that take place on the internet are called e-commerce, short for "electronic commerce."
The most popular example of eCommerce is online shopping by the internet on any device. But there are also other types of activities in eCommerce, such as online ticketing, auctions and internet banking
These days we can practically order anything online (clothes, food, electronics, …, even a dokters visit) So, eCommerce is fully integrated in our lives!
The Start of eCommerce
The first online transaction was made in 1972 when students from Stanford Artificial Intelligence Laboratory and MIT were selling online cannabis via ARPANET (the Advanced Research Projects Agency Network).
But the start of Amazon and eBay where launched in 1995. The leaders of eCommerce.
Good To Know
In 2020 global eCommerce sales will reach over $4 trillion.
Women tend to shop more online than men. For every $10 spent online is $6 spend by a women while $4 spend by men.
People between 18-34 years old spend aproximately $2000 each year online.
Common Types of eCommerce Websites
Physical Goods Retailers who sell physical goods like food, clothes, electronics,… can host their store online to adress more potential customers without invensting in more physical stores.
Service based Freelancers, educational and consulting services can be bought online as well. Reservations and information is all online so they don’t need a physical store anymore.
Digital Products Companies that sell software or video games can send there product digitale so the customer can download it without leaving the house.
The Future of eCommerce
Ecommerce is an ever-expanding world. With the growing technology, the proliferation of social media users and purchasing power of global consumers is the future of eCommerce still more vibrant as ever.