ByE-commerce businesses are a modern business method. The full meaning of E-Commerce is Electronic Commerce. Nowadays electronic commerce or e-commerce has created a lot of interest in the business world.
What is E-Commerce Business?
E-commerce businesses are the buying and selling, transfer or exchange of products, services, and information using computer networks and other electronic technologies. In the current era of internet technology popularity of e-Commerce is growing rapidly.
What is e-Commerce? In answer to this, it can be said that e-Commerce is the process of buying and selling products or services through electronic devices. It may be implemented by organizations and individuals with themselves or with each other digitally.
By browsing the internet, buyers can know about the product quality, stock, price, etc. of the products of different companies in the country and abroad. Also, sellers can distribute their products all over the world. Both buyers and sellers are benefiting from this.
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Types of E-Commerce
E-commerce is the exchange of information between individuals or organizations through the processing and transmission of digital data. Usually, this work is done through an open network system ie the Internet.
E-commerce is the connection between businesses, consumers, and other stakeholders using Internet, extranet, and intranet technologies. E-commerce can generally be divided into four categories based on services and goods transactions.
- Business to Business B2B
- Business to Consumer B2C
- Consumer to Business C2B
- Consumer to Consumer C2C
In addition to the above categories, there is an e-commerce called non-business.
Business to Business (B2B)
Business-to-business e-commerce can take place between multiple businesses. Traditionally, wholesale transactions between two businesses are called business-to-business (B2B).
In such an e-commerce system, the parties may be business entities, suppliers, or product manufacturers. In B2B e-commerce, businesses use the Internet and websites to establish business relationships easily and quickly.
And with the opportunity to do business through the Internet, the scope of B2B is constantly increasing. Therefore, most of the e-commerce IOS (IOS: Inter-Organizational Information System) and electronic market transactions are considered as the scope of Business to Business (B2B). alibaba.com is the exact example of this type of e-Commerce business.
Business to Consumer (B2C)
Business to Consumer (B2C) refers to retail or wholesale transactions between one or more buyers and business establishments.
Business-to-Consumer (B2C) businesses have been growing rapidly since the advent of the Internet. In business-to-consumer e-commerce systems, a consumer purchases goods directly from a merchant or manufacturer.
If the consumer buys any product in the e-commerce system, it is considered such a transaction. However, businesses must develop an electronic marketing system to sell products to consumers through such e-commerce. The most popular e-commerce marketplace amazon.com is the best example of this type of e-commerce.
Consumer to Business (C2B)
Certain businesses are directly accepted by traders from the consumer class. Such transactions are known as consumer-to-home e-commerce.
When a consumer deals directly with another business entity individually, it is called consumer-to-business or consumer business. The best example of this type of e-Commerce business is monster.com
Consumer to Consumer (C2C)
In such a business, transactions are done from one user to another user.
That is, consumer-to-consumer transactions without contact with any other business entity are called consumer-to-consumer (C2C). There is no business middleman in this type of business. For example, there is a class of car dealerships that sell used cars.
If the company creates a website where users buy used cars and resell them at a profit, then this type of e-commerce is called consumer-to-consumer. The most renowned ebay.com is doing this type of e-Commerce business.
Non-Business E-Commerce
Currently, many non-commercial organizations such as educational institutions, non-profit institutions, religious institutions, and government agencies are using various types of e-commerce to reduce costs and increase service quality. As these transactions do not have a business purpose, they are called non-business e-commerce.
Features of E-Commerce Businesses
At present, the process of turning the world into an online market started long ago, due to which business activities are being made easier and faster in the international market. Now in the form of the online market, crossing geographical boundaries very easily.
With the influence of e-commerce, today’s world is no longer limited to a specific geographical limitation. Multiplies the activities of people all over the world.
But due to some of its features, the popularity of e-commerce is increasing day by day. The features of such e-commerce are as follows-
- Business results can be enjoyed by any individual or organization through e-commerce.
- E-commerce is a public domain for buying and selling products.
- There are no legal complications to starting a business through e-commerce.
- International standard, the right price, and punctuality.
- E-commerce conducts its activities through the Internet.
- The cost of technology used in e-commerce is very low. As a result, anyone can take advantage.
- E-commerce also greatly reduces the complexity of conducting various business activities. E-commerce is creating special benefits and opportunities in the goods and services wise rental and supply business.
- It is possible to conduct business all over the world through e-commerce.
Pros of E-commerce Business
1. Business standards can be specifically improved.
2. With the help of e-commerce, the business of any organization can be marketed nationally and internationally.
3. Exchange of information and business activities can be completed quickly.
4. Greatly reduces the cost of business operations.
5. Easily builds rapport between buyers and sellers.
6. Increases accuracy and acceptability of information.
7. Faster product reach voda.
8. Product and service quality can be improved etc.
Cons of E-commerce Business
1. A mechanical problem can have a huge impact on the entire process.
2. Academic institutions often use dedicated web servers, which are not always available.
3. Lack of security is observed in financial transactions.
4. There is a shortage of skilled people in managing e-commerce.
5. Buyers or sellers often do not trust e-commerce operations. 6. No guarantee is given in terms of product quality etc.
FAQ
Why E-Commerce Businesses Are Popular?
We can shop at home for e-commerce businesses. In this modern age, we are too busy. Technologies are developing.
