Ecommerce stands for “electronic commerce” and refers to the process of conducting transactions through the internet. As such, ecommerce covers all activities related to buying and selling products or services online.
Much has changed since the first ecommerce transaction in 1994 — the purchase of a CD copy of "Ten Summoner’s Tales" by Sting. Over the course of the last two decades, almost every commercial industry has moved to embrace ecommerce.
Now, nearly 10% of all retail sales occur online, and ecommerce will only become more popular from here on out — especially with mobile use on the rise, which accounts for 92% of ecommerce order growth. Relationships between many brands and customers are now deeply influenced by the quality of the brand’s ecommerce offerings.
Ecommerce operations are run by individuals and businesses alike and may be hosted on websites or within online marketplaces (Amazon, eBay, Etsy). Ecommerce hosted on websites is powered by software called ecommerce platforms. Modern ecommerce platforms also include advanced functions to help sellers provide buyers with streamlined and personalized customer experiences.