Final answer:
E-commerce grew rapidly due to its global reach, convenience for consumers and businesses, and cost-effective nature for both parties involved.
Step-by-step explanation:
The reasons why e-commerce took off include global reach, convenience, and cost-effectiveness. E-commerce's global reach allows consumers and businesses to interact and conduct transactions on a global scale, increasing the market size beyond traditional geographic boundaries. The convenience of shopping online offers customers the ability to make purchases at any time and from anywhere, without the need for physical storefronts or adherence to traditional business hours. Finally, cost-effectiveness is evident as e-commerce reduces the need for physical stores and leverages digital systems to minimize overhead costs, thus lowering the prices for consumers and increasing the efficiency for businesses.