Definition

Modern Commerce refers to the contemporary methods and technologies used to facilitate the buying and selling of goods and services. It encompasses e-commerce, mobile commerce, omni-channel retailing, and advanced digital payment systems, all aimed at providing a seamless and integrated shopping experience.

Types

Types of Modern Commerce:

E-Commerce:
Buying and selling products online through websites and online marketplaces.

Example: Online stores like Amazon and eBay.

Mobile Commerce (M-Commerce):
Conducting commercial transactions using mobile devices such as smartphones and tablets.

Example: Mobile shopping apps like those of major retailers.

Omni-Channel Commerce:
Integrating various sales channels (online, in-store, mobile) to provide a unified shopping experience.

Example: Allowing customers to browse online and pick up purchases in-store.

Social Commerce:
Using social media platforms to buy and sell products.

Example: Shopping directly through Instagram or Facebook Shops.

Benefits

Benefits of Modern Commerce:

Convenience and Accessibility:
Provides customers with the flexibility to shop anytime, anywhere.

Personalized Shopping Experience:
Uses data and analytics to deliver personalized product recommendations and offers