On August 11, 1994, a CD was exchanged during the first-ever online sale. This transaction marked an important shift in the way we shop and do business. It was the birth of e-commerce, which is the buying and selling of goods and services over the internet.
What is e-commerce?
E-commerce, short for electronic commerce, is the process of buying and selling goods or services entirely online. This includes online shopping, electronic payments, and online banking. E-commerce enables businesses to reach a global market, providing convenience and a wide variety of product options for consumers.
How does e-commerce work?
After a customer makes a purchase, the online merchant fulfills the order either through shipping, in-store pickup, or local delivery (for physical products), or digitally (for digital products like PDFs, online courses, or virtual consultations).
Types of e-commerce platforms and online sales channels
There are many ways to reach and sell to consumers online, including owned channels like online stores and through third-party platforms. Each has its advantages and disadvantages, and many e-commerce sellers choose a multi-channel approach, selling through multiple channels.
E-commerce platforms
An e-commerce platform is a service that allows you to make money through your website. An example is Shopify, which is a company that enables individuals, creators, and businesses of all sizes to sell online and in-person through a brick-and-mortar store.
Benefits of e-commerce businesses
Running an e-commerce business has its benefits. Not only does this business model allow you to launch quickly, but it also provides access to a global market of potential consumers looking for a convenient way to purchase your product and engage with your brand.
Challenges of e-commerce businesses
While running an online business has its benefits, it also comes with some challenges. If you want to start an e-commerce business, you should plan for these potential issues before moving forward.
Latest e-commerce trends and statistics
E-commerce trends impact everything from the design and functionality of websites to the types of products that are most popular.
Starting an e-commerce business: 8 steps to launch an online store
If you decide to start a business, congratulations, you’ve already completed the first step! Once you have an idea and a desire to start, you’re on the right track to launching your e-commerce store. After you finalize the details, you can sign up for an e-commerce platform like Shopify to help you execute your vision.
E-commerce: FAQs
What is e-commerce? What are the types of e-commerce? What is an e-commerce site?
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