Nowadays, traditional marketing has been replaced by digital marketing.
« E-commerce has changed the way of marketing »
What is e-commerce?
E-commerce, also known as e-commerce, internet commerce, and e-commerce, can be a business model involving transactions on the web. The marketplaces that sell their products online are e-commerce stores or businesses.
For example, Amazon.com is one of the most popular online stores in the e-commerce industry. The term e-commerce also contains many other activities such as online auctions, online banking, payment gateways and online ticketing, etc.
Electronic commerce should not be confused with electronic commerce. Although sometimes used interchangeably, the terms are not synonymous. E-commerce specifically indicates the transaction of products and services, while e-commerce refers to any or all aspects of running an online business.
Types of e-commerce businesses
There are different methods to rank ecommerce websites. you will describe them based on the products or services they sell, the parties they deal with, or perhaps the platforms they operate on.
Rank Ecommerce Businesses Based On What They Sell
Stores that sell physical goods
These are your typical online retailers. Clothing, furniture, tools, and props are all samples of physical goods. Buyers can choose physical goods through online stores by visiting Google program websites adding items to their cart and to their purchases.
When the customer has made a sale, the store delivers the item (s) directly to their door. There are also online stores where customers can make a purchase online but go to the store themselves to select the products.
Not only accessories, clothing, furniture and tool services can also be purchased online. The process of purchasing services depends on the retailer. Some may allow you to get their services directly from their website or platform. Some service providers require that you contact them first (book a consultation) to determine your needs.
The term digital products includes eBooks, online courses, software, graphics, and virtual goods.
Classification of e-commerce consistent with the parties
Looking at the participants in the transaction varies during ecommerce, they are:
Business to consumer (B2C)
The term business-to-consumer (B2C) refers to the method of selling products and services directly between a business and the consumers who are the end users of its products or services. Every organization that does business with consumers is often referred to as a B2C business.
Business to Business (B2B)
Business to business is like a brand to a brand. Products are part of the manufacturing process. It does not go to consumers.
Consumer to business (C2B)
This is the reverse of the B2C business model. Here the consumer creates value for the organization or business by providing some sort of idea.
From consumer to consumer (C2C)
C2C e-commerce occurs when both parties involved are consumers who trade with each other. eBid, eCrater, Facebook Marketplace are examples of online marketplaces where individuals buy and sell products to each other.
Corporate governance (G2B)
G2B e-commerce models occur when the government provides businesses with goods and services. Public procurement, data centers, and e-learning are all examples of G2B e-commerce.
Business to government (B2G)
The B2G model is about organizations and businesses that provide goods and services to government. For example, OpenGov can be a company that provides governments with cloud-based platforms for communication, reporting, and budgeting.
Consumer in government (C2G)
when consumers include in the payment of taxes, insurance, bills, etc. relates to C2G.
Understanding electronic commerce (e-commerce)
E-commerce has improved manufacturers and established a presence in the market by providing cheaper and more efficient distribution channels. It has created an easy way to access products and services online at cheaper rates. Ecommerce is updated every time and everything is available in ecommerce stores.
There are many examples like Amazon is the leading e-commerce store, Flipkart, Snapdeal, Ajio, etc.
The pros and cons of e-commerce
E-commerce offers consumers the following benefits:
* Convenience. E-commerce can take place 24 hours a day, seven days a week.
* Increased selection. Many stores offer a wide range of products online compared to their traditional counterparts. And many online stores offer exclusive inventory that won’t be available elsewhere.
E-commerce has the following disadvantages:
* Limited customer service. If you buy a computer online, you can’t just have an employee do a face-to-face demonstration of a specific feature of a model. And while some websites allow you to chat online with a staff member, this is often not a typical practice.
* Lack of instant gratification. Once you buy an item online, you want to wait for it to be shipped to your home or office. However, retailers like Amazon are making the program less painful by offering same-day delivery as a premium option for some products.