Electronic commerce or ‘eCommerce’ is an online trading model that allows businesses and individuals to buy and sell goods and services over the internet. It includes the transfer of payment and data required to complete transactions.
As internet access and adoption rapidly increases worldwide, the digital market continues to swell. In 2020, over two billion people purchased goods or services online and during the same year, e-commerce sales surpassed the predicted figure of $3 trillion to hit $4.28 trillion worldwide. In the year of the pandemic, global e-commerce sales grew by more than 25 percent, with some countries reporting even higher percentage growth. These figures demonstrate that e-commerce is growing exponentially, with no signs of falling.
It’s difficult to overstate just how much the COVID-19 pandemic has devastated trade. Having an e-Commerce facility helped to sustain some businesses during the pandemic and helped others to thrive. For most industries, a digital point-of-sale was no longer a ‘nice-to-have’. It became a business necessity.
ECommerce is not just about having a slick web presence. In most cases, developing an eCommerce facility will require you to rethink some of your business operations – for example, you will need to have additional security on your website to safely process payments and protect customer data. You will also need to work out your order fulfillment and shipping responsibilities.
With over 10 years experience of working on eCommerce projects, I can provide guidance on the best practices for all stages of eCommerce projects.