According to a statistics, it is projected that e-commerce will account for more than $6.5 trillion in sales by 2023, which is 22% of retail sales, globally.
(ThriveMyWay)
What is e-commerce?
Electronic commerce, commonly referred to as e-commerce, is the practice of purchasing and selling goods and services through the internet. Other online transactions, such as auctions, ticketing, and banking, could also be referred to by this term. In this article, we’ll discuss the various e-commerce and the benefits and drawbacks of online shopping, and the reasons e-commerce is so important.
There are three types of e-commerce: Business-to-consumer, consumer-to-consumer, and business-to-business. B2C (business-to-consumer) online purchasing is selling items or services directly to customers. Apple, for example, has a B2C website. Instead of going to a store to buy an iPod, customers can get one directly from Apple’s website. C2C (Consumer-to-consumer) refers to an online platform, such as Alibaba while B2B (business-to-business) refers online platforms, such as HUAWEI.
The future of e-commerce is digital. That means the online shopping experience can be made to be more efficient and enjoyable, while also becoming more secure and convenient. The e-commerce industry is rapidly expanding. Consumers are flocking to e-commerce sites like Amazon, eBay, and Alibaba while the number of online shops grows at an alarming rate. E-commerce businesses must deal with a wide range of customers. To be successful, they must cater to a variety of tastes and preferences. This means that their products must be unique in order to compete in terms of sales volume with other online businesses. This implies they’ll require content writers regularly to develop new content for their consumers so they can stay ahead of the competition.
What is m-commerce?
Mobile commerce sales are predicted to jump up to $432.2 billion by 2022.
(LitsLink)
M-commerce is an important feature of mobile technology since it allows customers to shop online from anywhere. It is split under the m-commerce category. It is the buying and selling of goods and services via wireless mobile phones, such as smartphones and tablets. Although the phrase mobile commerce, sometimes known as m-commerce, was first connected with the sale of business-to-business wireless devices in 1997, it has since become associated with a variety of other activities. M-commerce allows consumers to conduct financial transactions using their mobile phones without the usage of the internet. It is now associated with the acquisition and sale of goods and services. A portable wireless device, such as a smartphone or tablet, can accomplish this.
Initially defined as a subset of e-commerce limited to the internet browser on desktop computers, m-commerce has expanded to encompass mobile banking and payment. Mobile purchases already account for over 30% of all online transactions in the United States and are expected to overtake desktop sales by 2021.
The future of online shopping
In the past, e-commerce was primarily focused on online shopping. Today, the world of m-commerce is taking shape and we have seen a lot of growth in this sector.
