Commerce is the large-scale organized system of activities, functions, procedures and institutions directly and indirectly related to the exchange (buying and selling) of goods and services among two or more parties within local, regional, national or international economies.[1] More specifically, commerce is not business, but rather the part of business which facilitates the movement and distribution of finished or unfinished but valuable goods and services from the producers to the end consumers on a large scale, as opposed to the sourcing of raw materials and manufacturing of those goods. Commerce is subtly different from trade as well, which is the final transaction, exchange or transfer of finished goods and services between a seller and an end consumer. Commerce not only includes trade as defined above, but also a series of transactions that happen between the producer and the seller with the help of the auxiliary services and means which facilitate such trade. These auxiliary services include transportation, communication, warehousing, insurance, banking, financial markets, advertising, packaging, the services of commercial agents and agencies, etc. In other words, commerce encompasses a wide array of political, economical, technological, logistical, legal, regulatory, social and cultural aspects of trade on a large scale. From a marketing perspective, commerce creates time and place utility by making goods and services available to the customers at the right place and at the right time by changing their location or placement. Described in this manner, trade is a part of commerce and commerce is a part of business.
Commerce was a costly endeavor in the antiquities because of the risky nature of transportation, which restricted it to local markets. Commerce then expanded along with the improvement of transportation systems over time. In the middle ages, long-distance and large-scale commerce was still limited within continents. With the advent of the age of exploration and oceangoing ships, commerce took an international, trans-continental stature. Currently the reliability of international trans-oceanic shipping and mailing systems and the facility of the Internet has made commerce possible between cities, regions and countries situated anywhere in the world. In the 21st century, Internet-based electronic commerce (where financial information is transferred over Internet), and its subcategories such as wireless mobile commerce and social network-based social commerce have been and continue to get adopted widely.
commerce
Legislative bodies and ministries or ministerial departments of commerce regulate, promote and manage domestic and foreign commercial activities within a country. International commerce can be regulated by bilateral treaties between countries. However, after the second world war and the rise of free trade among nations, multilateral arrangements such as the GATT and later the World Trade Organization became the principal systems regulating global commerce. The International Chamber of Commerce (ICC) is another important organization which sets rules and resolves disputes in international commerce.
Online shopping jumped 77% year over year just months into the pandemic, accelerating the innovation and adoption of digital commerce by half a decade. Shopping, working, and socializing online became commonplace.
The Commerce Trends 2023 report is a compilation of some of the most powerful insights that emerged from our research across five areas: supply chains, inflation, marketing, social commerce, and retail.
We partnered with global market research firm Ipsos to explore where the commerce industry is, where it's going, and how leading brands are pivoting to keep up with the ever-changing commerce landscape. The study includes responses from 900 business owners and commerce decision makers based in the United States, Canada, the United Kingdom, France, Germany, Ireland, Italy, Spain, Japan, Singapore, India, China, Australia, and New Zealand.
Ecommerce might be growing at a slower pace than during pandemic times, but it's still taking an increasingly larger slice of total retail sales worldwide. By the end of 2023, one in every five retail sales will be made online.
Nine in 10 people buy from brands they follow on social media. Social commerce reduces friction between discovery and conversion, simplifying one-on-one engagement and potential sales. According to our global survey results, using social channels for marketing and promotions is the most important customer acquisition and retention strategy for businesses to drive growth in the next few years.*
Use our super-handy Command Line Interface to build a complete ecommerce experience straight from the terminal. Manage all your API resources and webhooks, bulk import/export data, generate checkout URLs, fulfill orders, and more without leaving the command line.
Let's say you already have a marketing website and now you want to enable ecommerce. All you need to do is connect your Commerce Layer account and use our commerce API to make any of your pages shoppable.
Mobile commerce is increasing and consumers also prefer native app experiences over mobile sites. Commerce Layer can be your backend API, taking your customers' shopping experience to the next level of engagement.
Omnichannel commerce is all about providing seamless experiences whether the customer is shopping online or in store. This can only be achieved through a headless approach, such as the one provided by Commerce Layer.
A QR code can trigger an API call just like an HTML button on a product page. Connecting the physical world to Commerce Layer works just the same as building an ecommerce website, a mobile app, or any other buy button.
As digital commerce rapidly evolves, how can it benefit your business-to-business (B2B) operational efficiency, customer loyalty, and sales growth? Let us help you start reimagining your B2B commerce strategy.
A headless commerce platform is one in which the consumer-facing presentation layer is decoupled from the primary back-end, operational layer and connected through open APIs. This allows the business to continually add or enhance the experiential elements of the shopping and buying experience without affecting the core functionality of the platform. It also enables new selling channels such as social media marketplaces, mobile apps, in-store kiosks, and more, with minimal development needed by IT.
While both can be seen as different terms describing the same thing, e-commerce means selling products online, usually through a typical online store. Digital commerce expands that concept by including all the touch points and processes throughout the entire customer journey. This means that all the tools, processes, and technologies used to create the online offer are critical to the overall definition. It also encompasses the inclusion of physical sales channels, such as your store network, into your digital commerce strategy.
There are many benefits to a fully composable commerce platform, but big tradeoff for that extra freedom and flexibility. To succeed with fully composable commerce, you need a high degree of digital maturity and skilled IT resources. You can expect higher initial costs because this approach usually means stitching together multiple best-of-breed solutions, which brings another layer of complexity, from licensing costs to maintenance.
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