What is e-commerce?
E-commerce (electronic commerce) is the buying and selling of goods and services or the transfer of money or information over an electronic network, primarily the Internet. These business transactions are business to business, business to consumer, consumer to consumer or consumer to business.
The terms e-commerce and e-business are often used interchangeably. The term e-queue is also sometimes used to refer to the transaction processes that make up an online retail purchase.
Over the past two decades, the widespread use of e-commerce platforms such as Amazon and eBay has contributed to a significant growth in online retail sales. According to the US Census Bureau, e-commerce accounted for 5% of total retail sales in 2011. By 2020, it had risen to more than 16% of retail sales with the onset of the COVID-19 pandemic.
E-commerce is born from the internet. Customers access an online store to browse and order products or services through their device.
When an order is placed, the customer's web browser will communicate back and forth with the server hosting the e-commerce website. Order-related information is sent to a central computer known as the order manager.