What is Ecommerce?

Ecommerce, also known as electronic commerce, refers to the process of buying and selling goods or services over the internet. It involves various tools and systems for online buyers and sellers, including mobile shopping and secure online payment methods. Many businesses utilize online stores or platforms to conduct their ecommerce activities, manage logistics, and ensure order fulfillment.

 

According to eMarketer, global retail ecommerce sales are projected to exceed $5 trillion in 2022, accounting for more than 20% of total retail sales. Despite a slowdown in growth, total spending is expected to surpass $7 trillion by 2025.

 

To gain a comprehensive understanding of ecommerce, it is important to explore its history, growth trajectory, and impact on the business world. Additionally, we will discuss the advantages and disadvantages associated with ecommerce and provide predictions for its future.

 

For further insights on ecommerce trends and strategies from industry experts, you can listen to our biweekly audio series called the Make it Big Podcast. This podcast covers a wide range of topics including industry news, growth strategies, success stories, and more.