E-commerce is everywhere. You can’t go anywhere these days and not see a post or an ad that has to do with e-commerce, whether it’s a friend who bought an item from Amazon, a social media ad promoting a newly launched product on Lazada, or a search ad for a B2B e-commerce tool like AVANA.
The industry has come a long way since it first started in the 1990s. Today, it has become a normal part of everyday life. This is largely thanks to the widespread use of the internet, smartphones, and innovative companies and products that have made buying and selling online much easier.
You might assume that e-commerce mainly covers the online shopping space, but in fact, the online retail industry is much larger than that.
Since it has become such an integral part of our lifestyle today, and even more so in the near future, it’ll be worthwhile to learn a little more about what e-commerce is all about.
What is E-Commerce
The definition of e-commerce can be simplified as:
E-commerce, or electronic commerce, refers to any commerce activity that is carried out on the internet by businesses and consumers through websites, social media, email, instant messengers, and mobile apps.
The E-Commerce Ecosystem
Online retail is no doubt a big part of e-commerce as a whole. But there are many other sub-categories that you might not have been aware of that are actually part of the industry, such as:
- Online Retail – Retail products sold through online route
- Online Marketplace – Platforms where sellers and buyers transact online
- Online Deals – Deals purchased online (where the redemption can happen either online or offline)
- Online Travel and Ticketing – Ticketing for air, rail, bus, movies, and events
- Online Classifieds – Includes cars, job, and property boards
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This post was written by Nina