E-commerce refers to the buying and selling of goods and services over computer networks like the Internet. It uses technologies like mobile commerce, electronic funds transfer, and online transaction processing. Modern e-commerce often uses the World Wide Web for transactions but may also use email. E-commerce has changed the importance of time in business and increased transparency, allowing consumers to easily research and purchase products. It has also impacted employee loyalty as competition in online markets increases the importance of professional skills. Companies engage in e-commerce through various distribution channels like pure-play online retailers, bricks-and-clicks retailers, and click-to-brick retailers that later open physical stores.