What does 'e-commerce' refer to?

The term 'e-commerce' specifically refers to buying and selling goods and services over the internet. It encompasses a wide array of online business activities, including online shopping, electronic payments, and the transfer of data to facilitate these transactions. E-commerce has transformed the way consumers engage with businesses, allowing purchases to be made from anywhere at any time, thus creating convenience and broader access to goods and services.

While traditional stores, non-monetary exchanges, and offline services are relevant business concepts, they do not align with the practical and technical definition of e-commerce. The essence of e-commerce lies in its online platform and transactional nature, emphasizing the internet as the medium for commercial activities.