E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the internet. It encompasses a wide range of online business activities, including retail sales, electronic payments, online auctions, and internet banking. E-commerce allows businesses to reach customers globally, provide 24/7 service, and streamline operations through digital transactions. It can take various forms, including business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C), and consumer-to-business (C2B) exchanges. E-commerce relies on technology such as websites, mobile applications, and digital marketing tools to facilitate the ordering process and enhance customer experience. Key components of e-commerce include secure payment processing, logistics, and supply chain management. The growth of e-commerce has transformed traditional retail and created new opportunities for entrepreneurship and job creation.
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