Meaning of the word ecommerce in English

What does ecommerce mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

ecommerce

US /ɪˈkɑː.mɜːrs/
UK /ɪˈkɒm.ɜːs/

Noun

commercial transactions conducted electronically on the Internet

Example:
Many businesses have shifted to ecommerce to reach a wider customer base.
The growth of ecommerce has transformed the retail industry.