E-Commerce is short for Electronic Commerce
First of all, online shopping, which is also referred to as e-shopping, or e-commerce, is a multi-billion dollar industry. Many people do online shopping all the time. It has become a part of our everyday lives in the same way that regular shopping is a part of our everyday lives.
The definition of E-Commerce is:
Buying and selling of product or service by businesses and consumers through electronic systems, without using any paper documents.
Main Types Of E-Commerce
Infographic brought to us by our friends at Miva Merchant Ecommerce Software and Hosting Ecommerce Software and Hosting.
Infographic Submissions
- B2B: Business to Business
- B2C: Business to Consumer
- C2C: Consumer to Consumer
- C2B: Consumer to Business
Business To Business, or B2B
$3,705 Billion sales total in 2010
Examples include IBM, HP, Dell, Cisco
Business to Consumer, or B2C
$169 Billion in 2010
Examples include Amazon.com, Target.com, Barnes & Noble
Consumer to Consumer, or C2C
Examples include Craigslist, eBay, half.com
Future of E-Commerce
- Projected to reach $1.4 trillion by 2015
- Projected to reach $4.2 trillion by 2021
- In the United States, e-commerce is projected to grow to $325.2 billion, at 13.7% growth each year
- Looking at the past, electronic online sales have grown 14.7% per year for the past 5 years
