What is E-commerce
History Of Ecommerce
Types Of Ecommerce
TYPES OF Ecommerce Income
Advantage And Disadvantage
Understand Ecommerce
How to Ecommerce Work
Ecommerce Websites
WHAT ECOMMERCE
Ecommerce, or electronic commerce, is the process of buying and selling goods and services over the Internet. It involves the exchange of goods or services between businesses, consumers, or both. Ecommerce is facilitated through platforms such as websites, mobile apps, or online marketplaces. While e-commerce once described a simple process—customer purchases on an ecommerce site, for example—the term has expanded as technology has advanced. Today, ecommerce can refer to business-to-business or domestic transactions. It also applies, for example
HISTORY OF ECOMMERCE
E-commerce actually goes back to the 1960s, when companies used an electronic system called Electronic Data Interchange to facilitate the transfer of documents. It wasn’t until 1994 that the transaction took place. This involved selling CDs between friends through the online retail website NetMarket. 1 The industry has developed rapidly since then, with companies such as Alibaba and Amazon becoming household names around the world. The introduction of free shipping, which, at least on the surface, lowers costs for consumers, has also helped increase the popularity of the e-commerce industry.
TYPES OF ECOMMERCE
E-commerce companies can operate in different business models. Business-to-consumer(B2C) B2C e-commerce companies sell products directly to the end user rather than distributing the product through an intermediary such as another retailer. This type of business may be used to sell products (such as your local sporting goods store’s website) or services (such as a lawn care mobile app to reserve landscaping services). This is the most popular business model and the concept most people think of when they hear the word e-commerce. Business-to-business (B2B) Similar to B2C, an e-commerce business can sell goods to another company. B2B transactions often result in higher volumes, more detailed information, and longer lead times. The buyer can also arrange repeat orders if the purchase is for ongoing production processes
Business-to-Government (B2G) Some e-commerce businesses serve as government contractors, providing goods or services to government agencies and other organizations. Often these arrangements require projects to be billed though a procurement process that may involve a large number of items.
Consumer-to-consumer (C2C) Individuals can sell goods to other individuals on their own websites or through e-commerce platforms that facilitate the process. Examples of the latter include Craigslist, eBay, Etsy, and many others.
Some business-to-business (C2B) sites allow individuals to easily interact with companies and offer their services, especially related to short-term contracts, gigs, or freelance opportunities. Upgrading is one example.
Consumer-to-government (C2G) Although not an e-commerce relationship in the traditional sense, C2G is a way for individuals to interact with the government. For example, filing your federal tax return through the Internal Revenue Service (IRS) website can be considered an e-commerce transaction because it involves the exchange of information. Taxpayers can also pay what they owe or ask for a refund of the amount they may have paid.
ADVANTAGE OF ECOMMERCE
offers buyers and sellers several advantages: Convenience: E-commerce can take place 24 hours a day, seven days a week. Consumers can shop when they’re comfortable, and business owners can sell when they sleep. Increased Selection: Many retailers offer a wider variety of products online than they would ever sell in a store. Many online stores offer customers exclusive products that cannot be found anywhere else. Low start-up costs: E-commerce companies may need a warehouse or production facility, but usually do not need a physical store. The cost of working digitally is often more expensive than the need to pay rent, insurance, building maintenance, and property taxes. Global sales: As long as an e-commerce store can find a way to ship its products to its customers, it can sell to anyone in the world and is not limited by physical geography. An opportunity to collect valuable data: Whether they know it or not, consumers share a lot of information about their interests and shopping habits when they make a purchase or even browse the Internet. Site owners can use this information in a number of ways, using it themselves and selling it to others.
DISADVANTAGE OF ECOMMERCE
There are also some disadvantages that come with e-commerce. These may include: Limited customer service: If you buy a computer online, you simply cannot ask an employee to personally show you the features of a particular model. Although some websites allow you to chat online with a member of staff, this is not common. A disadvantage for shoppers, this can also be a money saver for retailers. Instant gratification When you buy something online, you have to wait for it to be delivered to your home or office. However, e-tailers like Amazon now make the waiting game a little less painful by offering same-day delivery options for select products. Inability to touch products: Online photos don’t necessarily convey the whole story about an item, and e-commerce purchases can be frustrating when products don’t meet the buyer’s expectations. Case in point: an item of clothing may be made of shoelaces based on its appearance on the internet. Dependability on technology: If the website crashes or has to be temporarily down for any reason, the business is effectively shut down until things are back to normal.Greater competition: Although the low cost of starting an e-commerce business can be beneficial, it also means that competitors can easily enter the market.
TYPES OF ECOMMERCE REVENUE
Due to the unique nature of e-commerce, businesses have different types of revenue to choose from, based on how their products are produced, sold, and shipped. Common examples include: Building Often considered one of the simplest forms of e-commerce, outsourcing allows a company to create digital stores, sell products, and then rely on a supplier to deliver them there. take it from him. The e-commerce company collects money from the buyer, then forwards the order to the seller. This supplier manages the inventory, oversees the warehouse of the product, closes the orders, and delivers the product to the buyer. Clear labeling In clear label e-commerce, the seller does not produce the product but buys an existing item from a manufacturer or other supplier and repackages it under his own brand for resale to the end customer. Private Labeling Similar to plain branding, private labeling involves selling a product made by another manufacturer. However, with private labelling, the seller can have more control over the actual product, such as making specific instructions. Store brands are an example of personal branding. Wholesaling Wholesalers serve a large number of buyers of a particular item or many smaller buyers of that item. As a capital-intensive process in e-commerce, wholesale can result in the preservation and storage of large quantities of products.
UNDERSTAND OF E-COMMERCE
As mentioned above, e-commerce is the process of buying and selling goods and services online. But it involves more than just a buyer and seller, relying on a large, often invisible infrastructure to keep it going. E-commerce has helped companies (especially those with narrow reach, such as small, local businesses) to reach a wider market by providing cheaper and more efficient sales and distribution channels for their products or services. While some businesses exist entirely online, others lurk in the real and virtual worlds. Target ( TGT ), for example, is one of many large retailers that has supplemented its presence with an online store that allows customers to buy everything from clothes and coffee to toothpaste and action figures without leaving their homes. At the other end of the scale, individual sellers are increasingly involved in e-commerce transactions through personal websites. And digital marketplaces like eBay and Etsy serve as exchanges where many buyers and sellers can come together and do business
HOW ECOMMERCE WORK
E-commerce uses the Internet to connect buyers and sellers, but that’s where online stores differ. Just as there are different types of stores, such as drive-thru, wholesale distributors, department stores and private product showrooms, there are different types of e-commerce stores. Also, companies can sell to end users, to other companies or even to governments. There are also different categories of products, so sorting in e-commerce often involves ordering from a fast-food restaurant and picking one from the A, column. Column B and Column C. E-commerce businesses need to choose the sales channel, who to sell to, the type of product and how to order from customers.
ECOMMERCE WEBSITE
For most businesses, even if they sell through multiple channels, the only e-commerce website is an online store. Instead of setting up stores on a separate platform, most businesses choose a ready-made e-commerce platform that already has built-in features including shopping carts, secure checkout, integration of payment processors and standards. product manuals. Most of the top e-commerce platforms, like Shopify, are all-in-one services that include hosting and storefront. For brick-and-mortar stores that are expanding into online sales, e-commerce businesses, such as Square, that offer physical point-of-sale (POS) and online sales in one package are generally best
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