Commerce is one of the oldest and most profitable fields in the world, and with technological advancements, it has become even more lucrative. In this article, we will explore the concept of e-commerce, provide you with some tips on how to get started, and also explain the prominent types of e-commerce available in the market.
The Concept of E-commerce
E-commerce, in simple terms, is a set of processes that enable buyers and sellers to interact and exchange goods and services online. It encompasses all commercial activities that utilize the internet, including wholesale and retail sales, direct selling, online auctions, digital advertising and marketing, customer services, and electronic financial transactions between individuals or businesses.
E-commerce emerged as a new concept in the world of economics with the proliferation of the internet in the early 1990s. However, the growth and expansion of e-commerce before 2019 cannot compare to what it has become in the past three years following the COVID-19 pandemic. It has become an integral part of daily life, allowing consumers to purchase everything online without the need to leave their homes.
As a result, e-commerce has become an effective solution for adapting to the new situation, thanks to its advantages that surpass traditional commerce.