Here's A Quick Way To Know About E-Commerce

 E-Commerce or Electronic Commerce means buying and selling goods, products or services online. This business transfer can be done in four ways: Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), Customer to Business (C2B). The most common definition of E-commerce is online transactions. Examples of E-commerce websites are Amazon, Flipkart, Shopify, Myntra, Ebay, Quikr, Olx. By 2020, global e-commerce could reach $ 27 Trillion. Let's learn more about the pros and cons of E-commerce and its variants.

E-commerce is a popular term for trading electronically or even online. The name describes itself, it is a meeting of buyers and sellers online. This includes the transaction of goods and services, the transfer of funds and the exchange of information.

So if you go to your Amazon and buy a book, this is a great example of e-commerce transactions. Here you contact the seller (Amazon), exchanging data in the form of photos, text, delivery address etc and make a payment.

Currently, e-commerce is one of the fastest growing industries in the world economy. On average, we grow about 23% annually. And it is expected to be a $ 27 trillion industry by the end of this decade.

Types of Commerce Models

Electronic trading can be divided into four main categories. The basis of this simple framework is for teams to participate in sales. The following four basic business models are therefore

1. Business To Business

This is a business venture. Here companies do business with each other. The end buyer is not involved. Therefore online transactions include only manufacturers, retailers, retailers etc.

2. Business to the Consumer

Business to the Consumer. The buyer can check out their websites and look at the products, photos, read reviews. They then place their order and the company sends the goods directly to them. Popular examples are Amazon, Flipkart, Jabong etc.

3. Consumer Use

Buyer to buyer, where buyers communicate directly. No company is involved. It helps people to sell their property and assets directly to an interested party. Usually, goods sold by cars, bicycles, electronics etc. OLX, Quikr etc follow this model.

4. Business Use

This is a variation of B2C, a business buyer. So the consumer offers a good or special service to the company. Cite, for example, an IT freelancer who sells and sells software to a company. This could be a C2B transaction.

Examples of E-Commerce

• Amazon
• Flipkart
• eBay
• Fiverr
• Olx
• Quikr

Electronic commerce, popularly known as e-commerce, consists of the purchase or sale of products through electronic means such as the Internet or other electronic services. This type of trading was growing rapidly due to the proliferation of the Internet.

The need for electronic commerce arose from the need to use computers successfully in banks and corporations. With increasing competition there was a need among organizations to increase customer satisfaction and exchange of information. Electronic trading began with the introduction of electronic money transfer (EFT) by banks. Over time many variations of EFTs in banks were introduced as debit cards, credit cards and direct deposits.

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