The digital economy is a rapidly expanding space and it includes E-Commerce businesses.
E-commerce business has been equated to digital commerce and refers to the selling of goods or services over an electronic medium.
This includes websites, phone networks, wireless networks as well as mobile phones.
The transactions are often done via credit card payment system or online banking between buyers and sellers without the need for either party to meet in person.
In the field of e-commerce, there is an added level of communication that takes place between the buyer and seller.
Communication can take place through email, chat rooms, or instant messaging systems. E-commerce as a whole has become a huge marketplace for online shoppers.
It is a preferred way for consumers to shop online because they can get various goods and services without leaving home or without any inconvenience to sit at home to spend hours in front of the computer screen.
This kind of business is done by several companies that have been established over the years.
An E-commerce business can be done in two ways, one is drop-shipping and the other is retail.
Retail business means that there are various goods displayed online for people to see and then make a purchase decision based on the information provided by their web server.
Drop-shipping happens when there is no physical display of the products because it is done from an automated inventory that exists in a warehouse.
The goods are delivered to the customer without any human interaction.
E-commerce businesses can also be categorized into business-to-consumer (b2c) and business-to-business (b2b).
E-commerce is an exploding business because it is a convenient and fast way of shopping online.
It can be done from anywhere in the world, anytime during the day and night. Many internet shopping sites have been developed over the years in various countries.
This includes well-known sites such as Amazon, eBay, Craigslist, and Craiglist.