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Electronic commerce, commonly known as e-commerce or e Commerce,or e-business consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at some point in the transaction's lifestyle, although it can encompass a wider range of technologies such as e-mail as well.


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One of the first and most prominent e-commerce players, iconic eBay has left a huge footprint on the way we buy and sell. The Internet has created a new economic ecosystem, the e-commerce marketplace, and it has become the virtual main street of the world. Providing a quick and convenient way of exchanging goods and services both regionally and globally, e-commerce has boomed.

Today, e-commerce has grown into a huge industry with US online retail generating $175B in revenues in 2007, with consumer-driven (B2C) online transactions impacting industries from travel services to consumer electronics, from books and media distribution to sports & fitness. With more than 70% of Americans using the Internet on a daily basis for private and/or business use and the rest of the world also beginning to catch on, e-commerce's global growth curve is not likely to taper off anytime soon.

However, the US recession has taken its toll on online sales. Although early 2008 estimates by Forrester Research were very strong with 2008 revenues upwards of $204B (a 17% growth rate), 2008 holiday sales showed the first decrease in the last 7 years. Research by ComScore shows sales declining by 1% for the first 49 days of the holiday season.

Ecommerce Definition: ecommerce, e-commerce, or electronic commerce is the conduct of a financial transactions by electronic means. With the huge success of commerce on the Internet, ecommerce usually refers to shopping at online stores on the World Wide Web, also known as ecommerce Web sites. Ecommerce can be business to business (B to B) or business to consumer (B to C).