In today’s post we will talk about what electronic commerce is, what the different types are and their advantages compared to the so-called “traditional” model.

What is electronic commerce?

The first thing we will do is define the term electronic commerce, translated from English e-commerce. In a few words, this is the use of the internet as a means of buying and selling services, through web pages, mobile applications and even social networks. It is a business that manages collections and payments through electronic means.

What are the advantages of electronic commerce?

There are many advantages of this marketing method, here are some of them:

• Have a sales portal open 365 days a year, 24 hours a day.
• Reduce costs, the simple fact of not needing a physical establishment reduces costs compared to traditional business.
• The internet has no borders, that is, we can expand our business internationally to new markets.
• Through marketing campaigns, we can segment our customers and be more effective when selling, since we direct the information to the specific segment of said product.

Let’s talk about numbers

As described above, eCommerce has many advantages and more in this time we are living. Now, we will talk about the growth of this in recent years.

According to the study carried out by Statista on electronic commerce in the world, we can extract the following data:

• In the year of the pandemic, global retail e-commerce sales grew by more than 25%.
• The conversion rate of global shoppers via mobile is 1.86%.
• Global retail e-commerce sales will reach $5.42 trillion.
• By the end of 2024, the figure is expected to reach $6.39 trillion. It is said that in 10 years the volume of business will multiply by 6.
• It is predicted that by 2021 there will be 2.214 billion digital shoppers worldwide.

Conclution…

In this blog post we have talked a little about what is electronic commerce?, its advantages and its evolution over the last few years. By way of conclusion, we can say that it is booming and will grow much more each time. That is why, if you were considering creating your eCommerce, what are you waiting for?

Tell us about your eCommerce project Do you have an online project? Do you want to enhance the one you already have? We are here to help you! Contact us.