Digital Commerce Platform; Enables the Commercial Process of Buying and Selling Over the Internet

A digital commerce platform, or e-commerce platform, is a solution used to sell, distribute, and manage cloud-based software and services. There are three main types of e-commerce, such as business-to-business, business-to-consumer, & consumer-to-consumer. The digital commerce platform enables customers to purchase goods and services over mobile networks, internet, and commerce infrastructure. There are different features of platform such as analytics, customer service, product description, R&D, social media, marketing, promotions, etc.

An online/digital platform is defined as a service that facilitates interactions between users (whether firms or individuals) interacting through the service via the Internet. E-commerce platform gives businesses the ability to reach more customers. The aim of the digital solution is to generate a significant advantage for which customers are willing to pay. E-commerce has transformed customer experience in terms of accessibility and visibility. With so many people making their purchases online, it is the fastest-growing retail market.

The e-commerce market in the United States has been constantly evolving over the past decade. According to the U.S. Census Bureau of the Department of Commerce, the third quarter 2021 e-commerce estimate increased 6.6 percent (±0.9%) from the third quarter of 2020 while total retail sales increased 13.1 percent (±0.7%) in the same period. Moreover, digital commerce platform enables startups and large-scale businesses to enhance their revenue through an online customer base. This can be especially valuable to customers shopping for specialized products.

In short, an e-commerce platform is an end-to-end software solution that allows online retailers or businesses to manage their sales, website, marketing, and operations. The increasing number of smartphone users, easy and affordable access to technology, and convenience of shopping from anywhere, anytime have led to an increase in the adoption of digital commerce platforms. Over the years, the e-commerce market has grown significantly as buyers are still moving from offline buyers to digital buyers.