What's Happening?
E-commerce, or electronic commerce, involves the buying and selling of goods and services online. The industry has grown significantly since its inception, with key milestones including the introduction of online shopping by Michael Aldrich in 1979 and the launch of the first e-commerce company, Boston Computer Exchange, in 1982. The 1990s saw the emergence of major players like Amazon and eBay, which revolutionized the way people shop online. E-commerce has become a multi-billion dollar industry, with mobile commerce and online payment systems further accelerating its growth.
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Why It's Important?
E-commerce has transformed the retail industry, allowing businesses to reach a global audience and operate more efficiently. It has created new opportunities for small and large businesses, enabling them to compete in the digital marketplace. The industry's growth has been driven by technological advancements and changing consumer preferences, with mobile commerce and AI playing a significant role in shaping the future of e-commerce. As the industry continues to evolve, businesses must adapt to stay competitive and meet the demands of modern consumers.
