E-commerce definition and history
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E-Commerce Definition: Electronic Commerce and Online Transactions
E-commerce, or electronic commerce, is the process of buying, selling, or exchanging goods, services, and information through electronic networks, primarily the Internet. It involves using digital technologies and electronic communications to conduct business transactions, allowing individuals and organizations to interact and trade without the need for physical presence or traditional intermediaries 134578910. E-commerce covers a wide range of activities, including online shopping, electronic advertising, digital payments, order registration, and customer service support 45910.
Types of E-Commerce: B2B, B2C, and More
There are several main types of e-commerce:
- Business-to-Business (B2B): Transactions between companies, such as suppliers and distributors, which dominate e-commerce in terms of revenue 15.
- Business-to-Consumer (B2C): Companies selling products or services directly to consumers, which is the most familiar form to the public 157.
- Business-to-Government (B2G): Businesses providing goods or services to government agencies .
- Consumer-to-Consumer (C2C): Individuals selling directly to other individuals, often through online marketplaces .
- Mobile Commerce (M-commerce): Buying and selling through mobile devices .
E-Commerce vs. Traditional Commerce and Related Concepts
E-commerce differs from traditional commerce by enabling transactions to occur online, offering benefits such as shopping from anywhere at any time, flexible payment options, and reduced transaction costs for consumers. For businesses, it provides opportunities to reach new markets, increase customer loyalty, and reduce operational costs 24710. E-commerce is closely related to the concepts of the Internet economy and digital economy, but each has a distinct focus: the Internet economy centers on revenue from Internet-based activities, while the digital economy encompasses all digital technology-driven economic activities, not just online transactions .
History of E-Commerce: From the 1960s to Today
E-commerce has a history spanning over 30 years, with its roots tracing back to the 1960s when businesses began using electronic data interchange (EDI) to exchange documents and conduct transactions electronically 123. The rise of the Internet in the 1990s brought e-commerce to the mainstream, allowing for the development of online shopping platforms and digital marketplaces 136. Since then, advancements in information technology and global communication infrastructure have driven the rapid growth and evolution of e-commerce, making it a central part of modern business and daily life 367.
Impact and Evolution of E-Commerce
E-commerce has transformed the business landscape by making it easier and more efficient to reach customers, expand markets, and streamline operations 367. It has led to the emergence of new products, services, and business models, and has made global markets more accessible to both businesses and consumers 67. The ongoing development of technologies such as mobile commerce, recommender systems, and secure payment methods continues to shape the future of e-commerce 710.
Conclusion
E-commerce is the use of electronic networks, especially the Internet, to conduct business transactions. It has evolved from early electronic data exchanges in the 1960s to a global phenomenon that shapes how goods and services are bought and sold today. With its various types and ongoing technological advancements, e-commerce continues to redefine the way businesses and consumers interact in the digital age 12345678+2 MORE.
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