E-commerce also known as electronic commerce, e-commerce refers to the buying and selling of products or services over the Internet, as well as the transfer of money and data to execute these transactions. E-commerce is often used to refer to the sale of physical products online, but it can also be a description for each and every type of commercial transaction that is facilitated through the Internet.
While e-business is concerned with all aspects of doing business online, e-commerce, refers specifically to the sale of goods and services to you.
The history of e-commerce, starting with the first-ever online sale: on August 11, 1994, a man sold a Pitch tape CD-ROM to a friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a company on the Worldwide web-or “eCommerce” as we like to call it, usually, it is today.
Since then, an e-commerce platform has been launched for the products will be easier to find and purchase through online stores and marketplaces. The independent service providers, small businesses, and large corporations have taken advantage of e-commerce, which allows them to sell their products and services at a scale that was not possible with traditional offline retail.
Types of E-commerce Business Models
There are four main types of e-commerce business models that can describe almost every transaction that takes place between consumers and businesses.
- Companies and Consumers (B2C):
When a company sells a product or service to an individual consumer (e.g. you are buying shoes in an online store).
- Business-to-Business-to-Business (B2B):
If a company sell a product or a service to another business (e.g. a business sells software-as-a-service to other companies
- Consumer-to-Consumer (C2C):
When a consumer sells a product or service to another consumer (e.g. you sell your old furniture on eBay to another consumer).
- Consumer to Business (C2B):
When a consumer sells their products or services offered by a company or organization (e.g. an influencer offers exposure to the public for free, in exchange for a fee, or a photographer licenses their photo for use in the business.
E-commerce can take several forms, in relation to the different transactional relationships between businesses and consumers, as well as several of the items from the exchange and within these transactions.
The company sells goods directly to the customer without any intermediary.
The sale of products at wholesale prices to dealers, who then sell directly to the consumer.
The sale of the goods, which are manufactured and provided by third parties.
The collection of cash from the consumer before the product is released, in order to attract the initial capital that is required in order to enter the market.
Automatic re-purchase a product or service on a regular basis until the subscriber chooses.
- Physical products:
Each and every material item is required to provide the physical delivery of the client’s orders.
- Digital products:
Please Download files, digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use.
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