e-Commerce Essay In English | What is e-Commerce | Advantages Of e-Commerce
E-commerce also known as electronic commerce (EC) is the process of buying and selling goods and services via the Internet. Simply put, e-commerce is the use of modern day digital communication technology in business transactions to generate revenue and sales. The term was coined by Dr. Robert Jacobson, Principal Consultant to the California State Assembly’s Utilities & Commerce Committee. E-commerce is driven by the technological development of the semiconductor industry, and constitute the largest sector of the electronics industry. Electronic commerce uses the internet and the email softwares for online transactions. Some of the common uses of e-commerce includes buying and selling of books online, electronic gadgets, home décor etc. from websites like Amazon, flipkart, etsy etc.
E-commerce is used in several businesses through digital marketing, e-auctions, music streaming and online trading. Now a days, many corporations are creating their presence online through websites and smart phone applications. Day by day, e-commerce is getting popular and has managed to gain the trust of people. This is because using this platform, people are able to buy good products at relatively low prices. Buyers are now able to buy a wide variety of products online and save their valuable time in going to the physical stores. It is also profitable for sellers as it helps them to cut several hefty costs of opening a brick and mortar store, hiring sales team, inventory costs etc. E-commerce allowed sellers from various corners of the world to overcome geographical barriers and helped them to promote products to anywhere in the world.
E-commerce helped in creating millions of new job opportunities through e-books, online courses, software applications and other digital products. During the COVID-19 lockdown, e-commerce has seen an exceptional growth. More and more people are now inclined to buy from online portals even after the lockdown has ended. The corona pandemic has significantly impacted e-commerce growth as online sales has increased by huge numbers.