E-Commerce is defined as the internet or online business in which there is the process of buying and selling of the goods as well as the services through the internet. The transfer of money and data are executed online. There is a global pandemic around the world and everyone is inside their homes, in this situation the use of e-commerce is high in number compared to other situations.
The history of E-Commerce begins with the first-ever online sale: on August 11, 1994, a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web—or “eCommerce” as we commonly know it today. There are many such online businesses where we can satisfy our basic needs like clothes, food, job, etc. Human beings are not satisfied with one need only when one gets to fulfil the other one suddenly crops up. E-commerce played an important role in our daily life and they are mentioned below:-
- E-commerce is more convenient = People don’t want to visit physically to the store to buy goods and take services. They usually want all goods and services online, which is very easy and flexible.
- E-commerce gives you marketing opportunities = Your website is one of the best marketing tools your business has, not only can the use of SEO when building your site lead to more chances of your business getting found in search engines.
- E-commerce increases your reach = Because of the access to the internet, many people across the world can view your website at any time, which means those who are looking to expand their businesses which can lead you to gain larger audience.
- E-commerce can broaden your brand = It is a creative mode to take your brand from traditional brick to an innovative, well-loved brand. By offering a good product every time with online customer service, blogs and social media, your business is no longer a singular store.
- E-commerce easily receives feedback on products = The online store, allows you to receive feedback so that you can implement progress in your business.
Thus, e-commerce is being used mostly during the time of lockdown worldwide. It always plays an important role in the coming future also. In the emerging global economy, e-commerce has become one of the most essential components and a firm catalyst for economic development.