E-commerce (Electronic Commerce) becomes popular today. Many people who are even not thought about doing business, are now trying to involve into e-commerce. E-commerce is the easy, smart process that actually attracts the people.
E-commerce is buying and selling products on the online platform or using internet. You can use your personal computer, laptop even mobile for operating your daily business work. In e-commerce you need not mandatory office room or employees. You can handle all the transactions by setting your home. Today, e-commerce creates a wide market place and anyone like – small businessman, freelancers or even though large corporation knocking the door of e-commerce. Therefore, in global economy e-commerce is now fastest growing industries and every year it grows 23%.
There are four main categories of Electronic Commerce. Its transactions involve simple classification. So, the four basic electronic commerce models are given below –
- B2B (Business to Consumer) – In business to business transactions companies doing business with business. In this process the final consumer is not involve. It’s only involving manufacturers, wholesalers, and retailers and so on.
- B2C (Business to Consumer) – In the process of business to consumer the company directly sell their products to the consumers by using their personal websites or using internet. Like – Amazon, Jabong, Flipkart and so on.
- C2C (Consumer to Consumer) – In this process the consumer directly contract with other consumers. It helps general people to buy and sell their personal products like – OLX, Quikr, Bikroy.com and many like this.
- C2B (Consumer to Business) – In Consumer to Business process consumers provide products for sell to the company. like– IT freelancer
Why people think about E Commerce
- Scope of business is huge. People can reach a wider market place as well as remove the geographical barrier.
- Transactional cost would be lower. In addition, people can possible get higher margin.
- Quick response to customer can possible that can saves your times, money and energy.
- Serve customers 24 hours. That actually helps to engage with the customers all the time.