Ecommerce, or e-commerce, refers to transactions conducted over the Internet. When companies buy or sell products and services online; They participate in e-commerce. The term e-commerce also includes other activities including online auctions, internet banking, payment gateways and online tickets.
Types of eCommerce
Business to Business (B2B)
B2B occurs when businesses sell to other companies. This is stationery stores that sell office supplies wholesale in companies. Usually, Companies have offered some discounts to the units if customers purchase some large quantity, which is an excellent motivation to take advantage of offices.
Business to Consumer (B2C)
The B2C business model is usually where traders think about where to sell products to consumers who buy in smaller quantities. A familiar example of the B2C model is supermarkets, where consumers make their purchases every week, but they usually do not purchase anything.
Consumer to Consumer (C2C)
C2C is a relatively new business model where customers who have already purchased will want to resell the item to another customer. Through marketplaces like eBay and Craigslist, it is comfortable and beautiful to sell items that you no longer use.
Benefits of e-commerce
In addition to interruptions or schedule management, e-commerce sites are available 24×7, allowing visitors to browse and shop anytime. The brick and mortar businesses are open for some time and ultimately closed in a few days.
Congestion can slow shoppers in the dash of a physical store, e-commerce sites determined by computing and bandwidth considerations to load on consumer devices and e-commerce sites, product pages and shopping cart pages in just seconds. An e-commerce transaction can take a few clicks and take less than five minutes.
Amazon’s first motto was “Earth’s largest bookstore”. They can claim it as an e-commerce site and not a physical store that stores every book on their shelves. A wide range of e-commerce allows brands to make available products that are shipped from the warehouse upon purchase.
Consumers who shop at physical stores can find it very difficult to determine which corridor a particular product is in. In e-commerce, visitors can browse product category pages and find work quickly using the site search feature.
The brick and mortar businesses sell their stores to customers who physically visit them. With e-commerce, companies can sell to any customer who has access to the web. E-commerce has the potential to expand the business customer base globally.
Pure-play e-commerce businesses avoid costs associated with physical stores such as rent, inventory and cashiers, although they do incur shipping and warehouse costs.
Personalization and product recommendations.
E-commerce sites can browse, search and purchase visitor history. They can influence this data to display useful and personalized product recommendations. Examples include sections of Amazon product pages that are “often purchased together” and “Users who view this item”.
E-commerce is managed using a variety of applications. Email, online catalogues and shopping carts, EDI, FTP, web services and mobile devices. It is the use of email for B2B activities and unsolicited advertisements, which is usually seen as spam for consumers and other business opportunities, as well as e-newsletters and mobiles for consumers. Send SMS text to devices. More and more companies are now trying to attract customers directly online using tools such as digital coupons, social media marketing and targeted advertising.
The growth of e-commerce has moved IT staff beyond the design and maintenance of infrastructure to take into account customer issues, consumer data privacy and security. When developing IT systems and applications in line with e-commerce, regulatory compliance directives, data privacy rules, and information security protocols relating to data governance should be considered.
1. Retail: Selling the product directly to the consumer without any intermediary.
2. Wholesale: Selling products in bulk, often to retailers, selling them directly to consumers.
3. Dropshipping: A product sale, made by a third party and sent to the customer.
4. Crowdfunding: The collection of money from customers in advance of a product, which is available to raise the initial capital needed to bring it to market.
5. Subscription: Buy the product or service regularly until the customer cancels it.
6. Physical Products: Any good goods that need to be refilled should be physically ordered to be shipped to customers for sale.
Disadvantages OF e-commerce
They have limited customer service.
If you are shopping online for a computer, you cannot ask an employee to display the features of a particular model personally. And although some websites allow you to chat online with staff.
Lack of immediate satisfaction.
When you buy online, you need to send it to your home or office. People did not like to wait until their item delivery.
Inability to touch products.
Online images do not necessarily tell the whole story about an object. Therefore e-commerce shopping will not be satisfactory. In some cases, it does not meet the expectations of the consumers. The item of clothing can make from a sharp fabric, indicating its online image.