What is E-commerce?

E-commerce refers to the buying and selling of goods and services online. There are several types of e-commerce business models, including Business-to-Consumer (B2C), Business-to-Business (B2B), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), Business-to-Government (B2G), and Consumer-to-Administration (C2A). Each model has its unique features, opportunities, and challenges.

E-commerce platforms are software applications that allow online businesses to manage their marketing, sales, and operations. Some of the best e-commerce platforms include Big Commerce, Adobe Commerce, Shopify, WooCommerce, and Square-space.

E-commerce trends that are expected to shape the industry in 2024 and beyond include increased prevalence of voice search, AI-assisted up-selling and cross-selling, augmented reality to visualize purchases, and more personalized marketing and products.

E-commerce challenges include growing competition, increased customer expectations, low conversion rates, shopping cart abandonment, and poor customer retention strategy, among others.