What does the term 'e-commerce' refer to?

The term 'e-commerce' specifically refers to buying and selling goods or services over the internet. This encompasses a wide range of online business activities, including transactions conducted through websites, online marketplaces, and mobile apps. E-commerce allows consumers to purchase products and services from the comfort of their home or on the go, facilitating a global marketplace that is accessible 24/7.

While the other options touch on related concepts within the broader landscape of digital commerce and marketing, they do not accurately capture the essence of e-commerce itself. Managing physical stores pertains to traditional retail operations rather than online transactions. Advertising products through digital channels is a part of marketing and can support e-commerce but does not define it. The development of mobile payment systems is a technological advancement that enables e-commerce transactions, but it is just one aspect of the overall process. Therefore, the most precise definition of e-commerce aligns with the direct act of buying and selling online.