What is defined as buying and selling through the internet?

Prepare for the NRF Business of Retail Certification Exam. Study with interactive quizzes, flashcards, and detailed explanations. Boost your confidence and get ready to succeed!

E-commerce is defined as the buying and selling of goods and services over the internet. This encompasses a wide range of online transactions, including retail shopping, electronic payments, and marketplace exchanges. The convenience and accessibility of e-commerce have transformed the retail landscape, allowing customers to make purchases from anywhere in the world at any time.

The other options refer to different concepts. Franchising involves a business model where one party (the franchisor) grants another (the franchisee) the right to operate a business under its brand and business model, which is not limited to internet transactions. Impulse buying describes a consumer behavior where purchases are made spontaneously rather than planned, which can happen both online and offline. An independent establishment refers to a retail store that operates on its own, without ties to larger chains or franchises, and while it can operate online, it is not inherently focused on online transactions like e-commerce is.

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