What Is E-Commerce; Everything You Need to Know
Ecommerce is a short form of electronic commerce. It means businesses and their transactions are done online. It’s about the listing of goods, marketing the goods, goods orders, sales, and delivery of goods over the internet.
They are online stores where people can check for goods, order them and pay for them. It involves uploading products online for public viewing, showcasing their features and price. Also, it includes a process flow for taking orders and payment of the products.
To fully understand the e-commerce business, we shall further discuss two critical aspects of the e-commerce business. If you understand these two aspects, you will have full knowledge of the e-commerce business.
Ecommerce Business Types
Generally, there are three types of the e-commerce business. Understanding this will help you to decide on which level you want to play. We have an e-commerce platform with a single product brand. For instance, there could be an online store for wristwatches only. So people can order and buy wristwatches only from there.
We also have online stores that combine different product types—this one often group goods into categories for easy access and purchase. The third type of e-commerce business can be defined or called the online retailer platform to order goods in large quantities and probably resell in their local communities or environment.
Ecommerce Business Models
To better understand the e-commerce business, we shall look at the different business models of e-commerce business with a brief description of their function. Perhaps, you can learn them and choose your path if you wish to start yours. Kindly take a quick look;
B2B (Business To Business)
This is an e-commerce business that sells to other companies. They sell what other companies use for their business operations. Companies that fall into this category are usually software companies. This may include CRM software companies.
C2C (Consumer To Consumer)
This e-commerce business is an online platform where consumers sell to other consumers—the consumer selling the product may be the maker of this product.
B2C (Business To Consumer)
This e-commerce business sells directly to consumers via online channels. This means consumers log on to their platform, check the products, order, and make payment for the product that meets their needs. Any online where you buy your personal needs product falls into this category.
C2B (Consumer To Business)
This is an e-commerce business through which consumer sells to businesses. This may mean an individual who creates business solutions or products and sells through e-commerce platforms.
Since you now know these e-commerce business types and business models, which of these will likely be the one you will use for the e-commerce website you plan to start? Take your time to read through it all over again, select the type and get started with your dream business.
With this, I am sure you can answer the question, “what is e-commerce?” Kindly share your thoughts on this piece in the comments section. Thank you for your time.