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E-Commerce includes the purchase and sale of products and services over the Internet.

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What is e-Commerce ?

E-Commerce includes the purchase and sale of products and services over the Internet. It is a subset of an "e-Business" strategy of a business and is often used to add revenue streams. Many people think that E-Commerce is simply when a business has a website. But E-Commerce is much more than that.

There are many e-commerce applications, such as e-banking, the purchase of products and services from online stores and shopping malls, the purchase of shares, the finding of a profession, an auction, and electronic collaboration in research and development projects. Its applications cover the entire business cycle, from electronic information transfer to the completion of transactions involving goods and services, including third parties such as banks, insurance logistics and others.

Many businesses have become extremely profitable through e-sales. Dell and Amazon are two of the most typical examples for successful e-commerce businesses. Small companies as well as individuals can also market their products or services on a global basis through e-commerce. In addition, it also includes enterprises whose primary objective is not necessarily the financial gain, such as hospitals and services of general interest.

  • The e-shop is superior to traditional shops
  • Open 24/7 365 days a year at no extra cost
  • Reduction of operating and maintenance costs
  • Broadening geographical reach
  • Purchases from foreign countries
  • Rapid increase in purchases through e-Shops in recent years
  • An e-Shop needs less investment capital
  • Modern advertising and product promotion / service tools
  • 30% of Cypriot businesses made e-sales in 2017
  • €510 billion in the turnover of e-commerce in the EU in 2016
  • 74% of households in Cyprus have access to the internet

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