E-commerce definition

 

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E-commerce, also known as electronic commerce, is a term used to describe the buying and selling of goods and services online (Turban et al., 2020). In recent years, e-commerce has gained a significant record in the global marketplace, with an estimated 2.14 billion people purchasing goods and services online in 2021 (Statista, 2021). This growth has occurred by an increase in internet penetration and the use of mobile devices.

References:

Statista. (2021). Number of digital buyers worldwide from 2014 to 2024 (in billions). https://www.statista.com/statistics/251666/number-of-digital-buyers-worldwide/

 Turban, E., King, D., Lee, J., Liang, T. P., & Turban, D. C. (2020). Electronic commerce 2020: A managerial and social networks perspective. Springer.