What is E-Commerce?

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In this topic, you will learn about, What is E-Commerce?

What is E-Commerce?

E-commerce also is known as Electronic commerce or internet commerce refers to the buying or selling of goods or services using the internet and the transfer of money and data to execute these transactions. e-commerce is often used to refer to the cell of physical products online but it can also describe any kinds of commercial transactions that are facilitated through the internet. Whereas e-business refers to all aspects of operating an online business. E-commerce refers specified to the transactions of goods and services.

Also, Read E-commerce with its advantages and disadvantages.

The history of e-commerce begins with the first above online sale on Aug 11, 1994, a man sold a cd to all his friends through his website net market. An American retain platform. this is the first example of consumers purchasing the product from the business through the world wide web or e-commerce as we commonly know it today. Since then e-commerce has evolved to make products easier to discover and purchase through online retailers and market places. Independent freelancer, small business, and large corporations and all benefits from e-commerce, which enables them to sell their goods and services at the scale that was not possible with the traditional offline retailer.

Types of E-commerce Models:

There are four main types of e-commerce models that can describe almost every transaction that takes place between consumers and business:

  1. B2C (Business to consumers: when a business sells goods or services to an individual consumer. For eg., You buy a pair of shoes from an online retailer.
  2. B2B( business to business): when a business sells goods or services to another business. For eg., A business sells software as a service for other businesses to use.
  3. C2C ( Consumer To Consumer): when a consumer sells goods or services to another consumer. For eg., You sell your old furniture or eBay to another consumer.
  4. C2B (Consumer to Business): when a consumer sells their own products services to a business or organization. For e.g. An influencer offers exposure to their online audience in exchange for a few or a photographer licenses their photo for a business to use.

E.g. of e-commerce:

E-commerce can take on a variety of forms involving different transaction relationship between business and consumers as well as different objects being an exchange as part of these transactions.

  1. Retails.
  2. Wholesale.
  3. Dropshipping.
  4. Crowdfunding.
  5. Digital products.
  6. Services.

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