Exercise 1 :E-commerce Definition

(Mahato, 2022)

E-commerce is the purchase and sale of goods and services, or the transfer of funds and data, through an electronic network, mainly on the Internet. Business transactions typically take place between consumers and businesses. There are also transactions between businesses and other businesses. E-commerce is powered by the internet. Customers access an online store to browse through and place orders for products or services using their own devices. 

Business-to-business (B2B) e-commerce refers to the electronic exchange of products, services, or information between businesses and not between businesses and consumers. Examples include online directories and product and supply exchange sites that allow companies to search for products, services, and information, and initiate transactions through electronic purchasing interfaces. A Forrester report released in 2018 predicted that by 2023, business-to-consumer (B2C) e-commerce will reach $1.8 trillion dollars and account for 17% of U.S. business sales. Direct selling is when businesses sell products, services or information directly to consumers. The term "dot-com" was popular during the late 1990s, when online retailers and sellers of goods were a novelty.(Lutkevich, 2022)

Reference :

Lutkevich, B., 2022. What is E-Commerce? Definition and Meaning. [online] SearchCIO. Available at: <https://www.techtarget.com/searchcio/definition/e-commerce> [Accessed 7 July 2022].

Mahato, B., 2022. [online] Youtube.com. Available at: <https://www.youtube.com/watch?v=yStQNBYOIx4> [Accessed 11 July 2022].