Evolution of E-Commerce

These flashcards cover vocabulary terms and definitions related to the evolution of e-commerce, including technology advancements, marketing strategies, and business models.

Electronic Data Interchange (EDI)

A system for businesses to exchange documents electronically, marking the early beginnings of e-commerce.

World Wide Web

Introduced in the early 1990s, it made e-commerce accessible to the general public.

PayPal

A secure online payment method founded in 1998 that increased consumer trust in online shopping.

The .com Bubble

The dot-com collapse in the early 2000s that caused many internet businesses to fail but allowed survivors to pave the way for modern e-commerce.

Smartphone Revolution

The widespread adoption of smartphones increased convenience and access to online shopping, leading to significant growth in e-commerce.

Personalization and Data

Refers to the use of AI and big data to provide tailored shopping experiences and recommendations for consumers.

Omnichannel Experience

A seamless customer experience across various shopping channels, including online, mobile, and physical stores.

Digital Marketing

The process of promoting products or services using digital channels to engage customers and drive sales.

Search Engine Optimization (SEO)

Optimizing website content to rank higher in organic search results, increasing visibility for users.

Affiliate Marketing

A model where businesses partner with others to promote products, compensating them with commissions on sales.

Business-to-Consumer (B2C)

A model where transactions occur directly between a business and individual consumers.

Consumer-to-Consumer (C2C)

Involves consumers selling directly to other consumers, often through platforms like eBay or Etsy.

Dynamic Pricing

Pricing strategies that adjust in real-time based on demand and competition.

Content Marketing

Creating and distributing valuable content to attract and engage a target audience.

Voice Commerce

Shopping through voice-assisted technology, which is increasingly becoming a common method for making purchases.

User-Generated Content

Content created by users, such as reviews and testimonials, that influences purchasing decisions.

Compressed Commerce

A strategy focused on simplifying the customer journey to reduce friction and enhance the buying experience.

Market Segmentation

The process of dividing a broad target market into smaller groups of consumers with shared characteristics to tailor marketing efforts.

Payment Gateway Integration

The process of connecting a merchant's system to a payment processor securely.