What is e-commerce?
E-commerce is understood to be the trade (i.e. purchase and sale) of products and services online. The letter E stands for electronic transaction processing.
The complement to e-commerce is conventional wholesale and retail trade, whereby traders sell their services and products through traditional shops. With the ever-increasing popularity of the Internet, the volume of e-commerce has grown as a proportion of total trade.
Similarly, other services, such as the provision of air and rail travel tickets, have also moved to online sales, instead of via their previous outlets. In the area of home services and household appliances, there is also a trend towards e-commerce.
The future of online commerce
Retail is one of the few divisions in which customary sales in shops still have the upper hand. Even nowadays, most people buy their food in traditional supermarkets. However, it is questionable whether this will continue in the long term.
After all, more and more companies now offer home delivery. This convenience, of course, has advantages as well as some disadvantages.
Thanks to the availability of direct delivery to the front door, senior citizens no longer have to leave home to do their shopping. Furthermore, checkout queues are a thing of the past.
Experts agree that this is the future. Time-honored, conventional trade is likely to follow these developments, albeit with a certain level of mistrust.
Looking ahead, retail e-commerce will probably focus on developing innovative delivery methods to ensure even faster online service, and product benefits as well.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.