The Evolution of E-Commerce

E-commerce Overview

• The post-dot-com bubble period led to a period of retrenchment and reevaluation in e-commerce.

Driving Forces of E-commerce

• The widespread adoption of smartphones has transformed consumer behavior and given birth to on-demand services in e-commerce.
• The primary driving forces transforming e-commerce are social media, mobile devices, big data analytics, and the Internet of Things (IoT).

Impact of E-commerce

• E-commerce has had a serious societal impact over the past quarter-century, changing the way people shop, work, and live.

E-commerce Definition

• E-commerce, also known as electronic commerce, refers to the buying and selling of goods and services over the Internet.

E-business vs. E-commerce

• E-business is a broader concept that encompasses e-commerce and involves the use of digital technology to manage and facilitate all aspects of business operations.
• E-commerce, on the other hand, is a subset of e-business and specifically involves the buying and selling of goods and services over the Internet.

The Internet

• The Internet is a global system of interconnected computer networks that use the Internet Protocol (IP) to link devices worldwide.

Components of E-commerce

• The primary components of e-commerce include people, public policy, marketing and sales, revenue models, infrastructure, software, and services.

E-business and E-commerce Systems

• E-business and e-commerce systems are interconnected, with e-commerce being a key aspect of e-business that enables online transactions and sales.