E-commerce refers to the buying and selling of goods and services over the internet. The growth of e-commerce in recent years has had a significant impact on traditional brick-and-mortar retail stores.
One of the main advantages of e-commerce for consumers is the convenience of being able to shop from the comfort of their own home and have products delivered directly to them. This has made it easier for people to shop and has increased competition among retailers, as consumers have more options to choose from.
For businesses, e-commerce has also made it easier to reach customers and sell products, as they can easily set up online stores and reach a wider audience. However, the growth of e-commerce has also had a negative impact on traditional retail stores, as many have struggled to compete with the convenience and lower prices offered by online retailers.
As a result, many traditional retail stores have had to close or adapt to the rise of e-commerce by offering their own online shopping options or other services, such as in-store pickup or home delivery. The growth of e-commerce has also led to the development of new business models, such as subscription-based models and the use of social media to sell products directly to consumers.