eCommerce is a commercial transaction executed by companies and consumers via the Internet. This is done on several different platforms, such as software-as-a-service (SaaS) platforms, platform-as-a-service (PaaS) platforms, open-source platforms, enterprise platforms, and many more. eCommerce can also exist in a variety of business models such as B2B (business-to-business) and B2C (business-to-consumer).
eCommerce is often characterized by its flexibility, availability, and global presence which are key components that effortlessly motivate consumers to purchase. A contrast to traditional commerce which requires people to venture outside and engage in face-to-face interactions, which is considered a tiring feat compared to instantly purchasing a product online.
Besides its convenience, eCommerce has many advantages over a typical retail store. A business online can hold a larger amount of products in its inventory, ship its goods to a variety of countries, and have a lower start-up cost which can help increase its advertising/marketing. However, e-commerce can be restricted compared to traditional commerce. Having a business online involves limited customer service, potential IT issues, more competition, etc. Despite this, e-commerce is still a popular choice for businesses, its global reach and scalability play a large role in generating revenue.
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