E-commerce (electronic commerce) refers to buying and selling goods or services over the internet. This can include a wide range of transactions, from purchasing physical products online to using the internet to facilitate financial transactions. E-commerce has revolutionized commerce businesses, allowing them to reach a global customer base and conduct transactions 24/7. Additionally, e-commerce has also created new opportunities for consumers, making it easier to compare prices and access a wider range of products. Overall, e-commerce is a broad term that encompasses all commercial transactions that are conducted electronically.
E-commerce also allows businesses to collect and analyze data on customer behavior and preferences. This can be used to make informed decisions on product development, marketing strategies, and other aspects of the business. Additionally, e-commerce platforms can provide valuable insights on customer buying patterns, which can help marketers to come up with push notifications or promotion ideas to increase sales.
E-commerce platforms allow businesses to personalize their approach to customer service. By analyzing customer data, marketers can create targeted marketing campaigns, personalized product recommendations, and customized email campaigns. Personalized campaigns help to increase retention and customer satisfaction.