E-Commerce is short for Electronic Commerce.
It means to buy and sell by means of the Internet.
From small beginnings a decade ago, e-commerce has now matured into a huge industry in itself.
For example, in the UK ecommerce in 2006 rose by nearly a third compared to the previous year and was worth £130 thousand million (Source: UK Office of National Statistics.)
Here are a few more facts and figures:
- For every £100 spent in the UK, £27 of it was spent over the Internet
- Almost one in five business now employ ICT ecommerce specialists full time.
- About 70% of small businesses have a broadband connection.
There are different kinds of ecommerce.
> Business-to-Business where companies buy and sell goods to each other
> Business-to-Individual where you buy from an ecommerce shop such as iTunes
> Individual-to-Individual where people buy and sell from each other e.g. eBay
There are many companies selling 'ecommerce shop' software that you can add to your website, to easily get a shop up and running. They are 'Payment Gateway' firms you can hire that will handle all the tricky credit card payments for you e.g. WorldPay.
Challenge see if you can find out one extra fact on this topic that we haven't already told you
Click on this link: Ecommerce