What is E-Commerce?
E-commerce (electronic commerce) is the activity of electronically buying or selling products.
The term E-commerce encompasses other activities including online auctions, internet banking, payment gateways, and online ticketing.
In 2019, retail E-commerce sales worldwide amounted to 3.53 trillion US dollars and e-retail revenues are projected to grow to 6.54 trillion US dollars in 2022. Online shopping is one of the most popular online activities worldwide.
Why start an E-commerce website?
If you are already the owner of a physical store, this is the opportunity to reach more clients and get more sales as the online store is available 24/7.
It is also possible to sell only digital products/services that can be downloaded right away after purchase. This option is particularly adapted to the creative fields of arts, medias, music, software development, graphic design, online coaching, video editing, social media related services, etc... It opens the door to countless new online business ideas that could help Caribbean people benefit from.
Developing E-commerce in the Caribbean Region is a good way to help diversify the Economy.