Management Notes

Reference Notes for Management

E Commerce – Meaning, History, Types, Benefits, Challenges and Future Prospects | E-Business

E Commerce

E- Commerce

The term e-commerce, short for electronic commerce, refers to the purchase and sale of products and services online. By offering convenience, accessibility, and a global marketplace, it has revolutionized the way businesses operate and consumers shop.

From online retail stores and marketplaces to online banking, digital payments, and B2B (business-to-business) transactions, e-commerce encompasses a wide range of activities.

During this detailed explanation, we will discuss the history, types, benefits, challenges, and future prospects of e-commerce.

E – commerce

History of E-Commerce:

E-commerce dates back to the late 20th century when the Internet gained widespread popularity. A significant milestone in the development of e-commerce occurred in 1991, when the World Wide Web became publicly accessible.

Online marketplaces, electronic payment systems, and secure protocols for online transactions contributed to the rapid growth of e-commerce throughout the 1990s.

The emergence of e-commerce and its widespread adoption was paved by companies like Amazon, eBay, and Alibaba.

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