E-commerce (electronic commerce) is the process of buying and selling goods or services using the internet. This multi-trillion dollar global industry allows individuals and businesses to trade physical items, digital products, or services across various electronic networks and smart devices. As of recent projections, global e-commerce sales are expected to exceed $7.9 trillion by 2027, accounting for nearly 23% of total retail sales worldwide. The Core Pillars of E-Commerce Models
Business-to-Consumer (B2C): Brands selling directly to individual end-users. Examples include purchasing clothing from a retail site or ordering shoes from Amazon.
Business-to-Business (B2B): Companies trading with other companies. This usually involves wholesalers, raw materials, or software licensing.
Consumer-to-Consumer (C2C): Individuals selling directly to other individuals. This is commonly done through third-party marketplaces like eBay or Etsy.
Consumer-to-Business (C2B): Individuals offering products or services to organizations. Examples include freelance workers selling services or influencers licensing content to brands. Key Sales Channels
To convert online traffic into revenue, businesses rely on distinct digital sales channels: E-commerce Defined: Types, History, and Examples