E-commerce & Retail
E-commerce refers to the buying and selling of
goods and services over the internet. It includes online retail, which is the sale of physical goods, as well as digital products such as music, movies, and software. E-commerce also includes online marketplaces, such as Amazon and Etsy, which allow businesses and individuals to sell their products to a wide audience.
Retail refers to the sale of goods and services to customers for personal or household use. Retail includes traditional brick-and-mortar stores, as well as online retail. The retail industry includes a wide range of businesses, from large department stores and chain stores to small independent shops.
E-commerce and retail are closely related,
as e-commerce has had a significant impact on the retail industry. Online retail has grown rapidly in recent years, as more and more consumers are turning to the internet to make purchases. This has led to many traditional brick-and-mortar retailers to also establish an online presence, to compete and reach more customers.
The retail industry has been affected by e-commerce, with the shift towards online shopping leading to the closure of many brick-and-mortar stores, and a focus on omni-channel strategies, which combines the strengths of both online and offline retailing, to improve the overall customer experience.
The industry is facing some challenges such as the need for supply chain flexibility, the increase of online-only retailers, and the impact of the COVID-19 pandemic on brick-and-mortar stores and consumer behavior.
