Also known as electronic commerce and by the abbreviation EC, e-commerce involves the buying as well as the selling of commodities including services primarily via the internet. It draws on technologies like mobile commerce, internet marketing and online transaction processing to name a few.
Modern e-commerce is usually grouped into two. The first is based on the kinds of commodities sold, (this includes anything from traditional goods/services to making orders for “digital content” or “meta” services that help other kinds of electronic transactions). The second is based on the nature of the participating entities. Examples include Business-to-Business (B2B) and, Consumer-to-Consumer (C2C) transactions.
Global E-commerce Trends
As of 2012, electronic commerce sales had hit $1 trillion, which was a first in history. Also, m-commerce better known as mobile commerce, which refers to electronic transactions via any mobile device continues to play a growing role regarding e-commerce. Research has equally shown that IT (information technology) and cross-border electronic commerce provides a fantastic opportunity for the growth and swift development of companies.