Introduction to eCommerce

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Records state that eCommerce came into existence about 40 years ago in its initial form. However, since then, the concept of eCommerce has vastly improved and developed over the course of time during which countless businesses, big and small were able to grow while utilising this new technology.  

So, what is eCommerce? A simple definition for this question is one that deems eCommerce to be a platform which enables the process of buying and selling goods and services via the Internet. This process may also be identified as electronic commerce or Internet commerce. 

 

Why is the demand for eCommerce always on the rise? 

  1. Retailers claim it to be more beneficial to sell online
  2. E-commerce has made way for small businesses to sell directly to their customers
  3. Expansion of eCommerce market places
  4. Improvements in supply chain management
  5. A wide range of options handed to customers
  6. The role of social media
  7. Personalized experiences
  8. Ability to shop in international markets

 

For a concept which has been around since the 1960’s, eCommerce is one that does not seem to be slowing down. Instead, each year it picks up and creates a new trend which seemingly attracts both customers and businesses. A list of current trends and ones to look forward to in the future are listed below; 

+ Digital currencies 

+ Omni-channel experience for shoppers 

+ AI and AR enabled shopping 

+ Chatbots 

+ Mobile shopping 

+ Subscriptions to guarantee return shoppers 

+ Mobile commerce 

 

Studies show that the Covid-19 outbreak around the world has pushed customers and businesses to find accessibility and convenience through online platforms instead of physical interactions. With the recent trends which captivates the market, it is evident that eCommerce is here to stay. 

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