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What is an ecommerce business?

Ecommerce or electronic commerce is the practice of buying and selling goods or services via the Internet. It relies on technology and innovative computer systems to electronically transfer funds, process payments, manage supply chains, deliver goods or services, and track inventory.

An ecommerce business has the ability to function exclusively online without the high cost of a traditional brick and mortar location.

The most effective approach in understanding an ecommerce business is to think of ecommerce as a living organism similar to the human body. The human body relies on its legs to walk, arms to reach, and feet to stand. Likewise, to conduct business in a manner that is seamless, purposeful, and satisfying to customers an ecommerce business is made up of many parts that aide in its operation.

Its heart uses cutting edgy technology to simplify the way customers interact with the business. Its arms build and craft marketing strategies and sales funnels. Its legs keep the business grounded yet agile, as it works to meet the demands of customers. Its eyes watch the market intently for white space or areas of improvement.

To operate effectively and for profit, understanding the role of each part of an ecommerce business is essential for success.

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