What is E-Commerce?
ECommerce, also known as e-Business, or electronic business. It is simply the sale and purchase of services and goods over an electronic medium, like the Internet. It also involves electronically transferring data and funds between two or more parties. Simply put, it is online shopping as we commonly know it.
ECommerce started way back in the 1960s when organizations began to use Electronic Data Interchange (EDI) to transfer documents of their business back and forth. The 1990s saw the emergence of online shopping businesses, which is quite a phenomenon today.
Types of E-Commerce websites
Electronic transactions of goods and services between companies. Example: A business sells SAS products to other businesses.
Electronic transactions of goods and services between companies and consumers. Example: You buy a new t-shirt from an online store.
Electronic transactions of goods and services between consumers, mostly through a third party. Example: You sell your old smartphone on eBay or Olx to another consumer.
Electronic transactions of goods and services where individuals offer products or services to companies. Example: A Social media influencer offers exposure to their online audience in exchange for a fee.