E-commerce (Electronic Commerce) has become popular today. Many people who had never even thought about doing business, are now trying to get involved in e-commerce. E-commerce is an easy, smart process that actually attracts people.
It is defined as the act of buying and selling products on an online platform or using the internet. You can use your personal computer, laptop, or even mobile phone for operating your daily business work. In e-commerce, you do need an office room or employees. You can handle all the transactions by setting up your own home. Today, e-commerce creates a wide market place and anyone can join – small businessmen, freelancers, or even large corporations knocking on the door of e-commerce. Therefore, in the global economy, e-commerce is now the fastest growing industry, and every year it grows by 23%.
There are four main categories of Electronic Commerce. Its transactions involve simple classification. So, the four basic electronic commerce models are give 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 contracts 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 an– IT freelancer
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Why people think about E-commerce
- The 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.
In conclusion, it is evident that E-commerce: A new door of Business. That offers great potential for businesses of all sizes. By implementing an e-commerce strategy, businesses can reach new customers and grow their business in ways that were not possible before. With the ever-growing popularity of e-commerce, there has never been a better time to get started. So what are you waiting for?