BASICS OF E-COMMERCE

31

eCommerce, or “electronic commerce,” refers to business transactions that take place on the internet. eCommerce is most commonly associated with buying and selling online, although there are many other forms of e-commerce activities as well. eCommerce, in its broadest sense, refers to any sort of business transaction made electronically. Customers, corporations, vendors, or other providers, or government entities, might all be involved in the transactions.

Since the advent of the internet as a commercial operation, eCommerce has grown rapidly. Time and geographic limits are eliminated. Operations are streamlined and expenditures are reduced.

Business-to-Consumer (B2C)

When consumers think of eCommerce, they tend to think of business-to-consumer interactions. Buying and selling things on the internet is a prominent example of B2C interactions. In many cases, businesses have virtual storefronts, which are the online versions of their physical stores. Only websites are used by certain firms, which do not have any physical shops. With a few mouse clicks, buyers may browse and buy things.

Interfacing websites with bank accounts and credit cards have been one of the primary drivers of e-commerce. Banking procedures can now be carried out virtually, without having to go to a physical bank location. So it’s easy to pay for things online, using credit or debit cards, or even a gift card. This is far more convenient than writing cheques and mailing them.

M-Commerce

It stands for “mobile commerce.” However, the increased adoption of mobile devices with internet connectivity has opened up new eCommerce opportunities for businesses and their customers. The term M-commerce refers to e-commerce that occurs on mobile phones.

Electronic ticketing is a common example of m-commerce. Just about any form of the ticket may be booked online or through mobile apps. As an alternative to receiving a paper ticket, customers download an electronic version of the ticket that may be scanned much like a paper ticket As opposed to eliminating lines at entry points, electronic ticketing reduces wait times when purchasing tickets or picking up tickets at a will-call booth.

F-Commerce

Facebook commerce is referred to as F-commerce. In addition to providing a captive audience for transacting business, many small businesses rely more on their social media presence than traditional websites. As well as being a subset of B2C transactions, this sort of eCommerce also has strong links to mobile commerce

Mobile devices are used by many Facebook users, and companies commonly connect to online shopping choices on their pages and posts. Social media sites like Instagram and Twitter are being used for this type of business.

Business-to-Business (B2B)

Consumers and the media pay more attention to B2C purchases, yet B2B transactions represent a larger monetary amount. Both participants in these transactions are businesses, such as manufacturers, traders, retailers, and the like.

The majority of these sales are automated. Some manufacturers may require specific parts for assembly operations. An individual would have to anticipate how many parts they would need over a certain period and order those parts in bulk before the advent of e-commerce. Now, such purchases can be automated, saving time and money. An electronic inventory system keeps track of stock levels, and when they fall below a given threshold, a supplier’s order is quickly placed.

Consumer-to-Consumer (C2C)

Trade-to-trade transactions are a type of bartering. In terms of C2C eCommerce, auction sites are probably the most prominent example. However, a huge number of buyers and sellers were able to participate in online auctions because of the internet. In terms of price discovery, online auctions are a good option. Compared to traditional storefront purchasing, many purchasers find the auction method to be considerably more appealing.

Comments

comments