E-COMMERCE is the buying and selling of products or services over the Internet. Also known as electronic commerce, money and data are transferred over the Internet to facilitate the online transactions. Electronic funds transfer, online transaction processing, automated data collection, electronic data interchange, and mobile commerce are some of the tools used in e-commerce. With e-commerce, buyers and sellers are able to transact without the barriers of distance and time.
There has been an upward trend in the growth of e-commerce worldwide in the last 14 years. According to online providers of market and consumer data, buyers spend an average of 36% of their budget on online purchases and that the number of such buyers may reach 2.14 billion in 2021.
