E-commerce means buying and selling products online. Michael Aldrich established the first online shopping system or e-commerce in 1979. The market value of e-commerce websites is increasing as the world gets more advanced, and the payment systems are becoming digital and secure.
What was the global market size of e-commerce in 2019, and what is the impact of COVID-19 on the e-commerce market?
Dan Campbell
The global e-commerce market size is expected to increase by 7.5%, reaching $ 3.3 trillion, in 2020. Some major players in e-commerce include Amazon, Jingdong, Rakuten, Zalando, eBay, Alibaba, Groupon, B2W, Flipkart, Olx, Myntra, Shopify, and Quikr.
COVID-19 pandemic is playing a vital role in supporting the global market size of e-commerce in 2020 owing to lockdown- as e-commerce proved to be an effective way of trading goods.
Ryan Black
Most of the e-commerce payments were made through mobile phones in 2019, which is due to the more advance features in mobile phones such as e-wallets. In 2019, the internet accounted for approximately 15% of the global retail volume sales, showing the rising trend of e-commerce in the world.
The global market size of e-commerce was around $3.1 trillion in 2019, which is expected to increase further in the future due to the rise of using e-commerce.
The highest share in the global market has been maintained by countries such as China and the US.
MacLeod
E-commerce is divided into six basic types: B2C (Business-to-Consumer), C2B (Consumer-to-Business), B2B (Business-to-Business), C2A (Consumer-to-Administration), B2A (Business-to-Administration), and C2C (Consumer-to-Consumer).
B2C is the most common form of e-commerce business which deals with the electronic relationship between businesses and consumers. C2B is not the most used form of e-commerce as in C2B consumers makes the products and services available for the company to purchase online. For example, a photographer taking professional photos for an e-commerce website. B2B is an online business between two companies. It is typically the relationship between companies and wholesalers. C2A is another commonly used form of e-commerce which includes the digital transactions between consumers and administration. For example, schedule health appointment using online services. B2A is a digital transaction between a business and public administration. C2C includes all the digital transactions that take place between consumers and generally through some platforms, such as eBay.
BenJackiro
Raise of e-commerce got a “revolutionary” boost as even conservative offline buyers were forced to shop online during COVID-19. This trend will go on due to new buying habits and new online stores. The benefits of Social Media Monitoring (https://youscan.io/) are also becoming apparent. The reputation on the Internet does not differ from the reputation in life.