What is E-Commerce?
E-Commerce refers to the practice of buying and selling products and services online. Customers visit the website or online store to make purchases utilizing electronic payments. The merchant then ships the products or renders the service after receiving payment.
Electronic commerce has been since the early 1990s when Amazon only sold books, but it is now a multibillion-dollar sector that has grown much more since the epidemic. E-commerce expenditures reached $347.26 billion in the first half of 2020, up 30% year over year, according to Digital Commerce 360's analysis of U.S. Department of Commerce data. Comparatively, during the first half of 2019, e-commerce sales only rose by 12.7%.
It is not unexpected. Customers become accustomed to purchasing everything from food to furnishings from internet sites since they had few other alternatives.
According to research, people are likely to maintain their new behaviors, said Tory Brunker, director of product marketing at Adobe, in an interview with Business News Daily. I really believe that this is the new normal.
Several online shopping categories, such as over-the-counter medication, groceries, home goods, and personal care products, are predicted to expand by more than 35%, according to data by consulting company McKinsey & Company.
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