By the year 2021 worldwide retail eCommerce sales are estimated to reach 4.9 trillion dollars
First, ecommerce is trading and making commercial transactions electronically, through computer communication.
Ecommerce describes a broad spectrum of Internet activities. These activities include dissemination of information by suppliers, sales activities, and online purchase of durable goods and services, customer/product support, and after-sales.
With the development of the Internet, much has been given to utilizing this model. With computer software specifically tailored to this purpose, dedicated websites allow you to automatically purchase products and services over the Internet.
without the need to bring the seller in with the buyer, view the products in an existing store (but keep them in warehouses) and save traffic from place to place Buying action.
As e-commerce evolved in the 1990s, e-commerce necessitated general preparation of the various company divisions: production, marketing, operations, sales, and the like.
Many traditional companies are “badly burned” from improper e-commerce entry. Many trading sites in the country and around the world, such as 4sale and eToys, closed due to negative cash flow, but other trading sites, such as eBay and Amazon, were successful. Today, e-commerce is a pillar of most companies’ business activities.
Economic and social revolution is greatly accelerated by creating a global information infrastructure through the Internet. This infrastructure, which bridges geographical remoteness and time gaps, enables the development of e-commerce.
The e-commerce phenomenon significantly alters the entire relationship between partners and commerce, bringing market characteristics closer to sophisticated market conditions – great information on market options, eliminating geographical constraint (physical distance), short response times, and low overhead.
Development of e-commerce encompasses many advantages for all active factors in business – business and private.
Buyer shortens the time to find the product, compares identical products, can purchase the product from all over the world (no limit to the local market).
finding a preferred supplier according to the buyer’s criteria, shortening the processing time to deliver the product, and saving on the cost of doing these operations. The seller, on the other hand, is expanding the circle of potential buyers (without geographical barriers to barriers), reducing marketing costs (limited exposure to potential target audiences), saving on the cost of doing operations, mainly thanks to the reduction of listing and surveillance overhead and shortening of time for consideration.
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