One of the most significant ones is building trust with your customers. In addition, for businesses it is much easier to reach a larger audience with e-commerce – they can have customers from all over the world.Į-commerce also has some challenges. People can shop from the comfort of their own homes and have the items delivered right to their doorstep and also find the best deals online. One of the reasons why e-commerce is doing so well is because it’s very convenient. According to eMarketer, online retail sales will reach $6.17 trillion by 2023, with e-commerce websites taking up 22.3% of total retail sales.
Global retail sales growth will continue to rise and take up more retail market share. This is because people are becoming more and more comfortable with buying things online. This is the first example of a consumer purchasing a product from a business through the World Wide Web – or “e-commerce”, as we commonly know it today*.Į-commerce has been one of the most popular methods of conducting business transactions for a while now. The history of e-commerce begins with the first ever online sale: on August 11 th,1994, a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.
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