E-commerce (electronic commerce or e-business) is the buying and selling of goods and services online with no barriers of time or distance. These business transactions occur either as business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business.
E-commerce is based on technologies such as mobile commerce, electronic funds transfer, supply chain management, internet marketing, online transaction processing, inventory management systems.
Electronic commerce emerged in the early 1990s, and its use has increased at a rapid rate. Today, the majority of companies have an online presence. In fact, having the ability to conduct business through the Internet has become a necessity. Everything from food and clothes to entertainment and furniture can be purchased online. The benefits of e-commerce is it's round-the-clock availability, the speed of access, the wide availability of goods and services for the consumer, easy accessibility, and international reach.
• Online shopping web sites for retail sales to consumers (B2C)
• Providing or participating in online marketplaces, which process third-party business-to-consumer or consumer-to-consumer sales
• Business to Business buying and selling.
• Business-to-business (B2B) electronic data interchange
• Gathering and using demographic data through web contacts and social media
• Marketing to prospective and established customers by e-mail or newsletters
• Engaging in pre-retail for launching new products and services.
• Online financial exchanges for currency exchanges or trading purposes.