What is e commerce | Define E Commerce
E-commerce allows companies and individual to buy and sells goods and services over the internet, it refers to a business model. Over computers, tablets, smartphones, and other smart devices e-commerce operates in four major market segments and can be conducted. Through e-commerce transactions, nearly every imaginable product and service is available, including books, music, plane tickets, and financial services like investing stock. Through a website, if you can sell the items then you have an eCommerce business. So in this article, I will discuss in detail what is e commerce and will define e Commerce here.
On retail can’t be understood the impact of eCommerce. By 2021 to reach $4.9 trillion worldwide eCommerce sales, to grow 265%. To do eCommerce there is no one right way. Building an eCommerce site is more affordable and easier in recent years, now required no coding knowledge. In the vast landscape of online business more safe business people are becoming eCommerce entrepreneurs and craving profitable spaces.
Key Takeaways: define e Commerce
- Over the internet, e-commerce is the buying and selling of goods and services.
- Over computers, tablets, smartphones, and other smart devices it is conducted.
- Through e-commerce today almost anything can be purchased.
- O maintain both it can be a substitute for brick and mortar stores, though some businesses choose.
- In four market segments, e-commerce operates, including business to business, business to consumer and consumer to consumer, consumer to business.
Understanding eCommerce: What is e commerce
Of buying and selling tangible products and services online eCommerce is the process, as noted above. To process a transaction involves more than one party along with exchange data or currency. To run a company online which involves all of the processes is part of the greater industry that is known as electronic business. In all four of the following major market segments Ecommerce operated, these are;
What is Business to business (B2B):
Of good and services between a business which is the direct sale.
What is Business to consumer (B2C):
Between business and their customer which involves sales.
What is Consumer to consumer:
To sell to one another allows individuals, like eBay usually through a third-party site.
Consumer to business, for use by a corporation such as an artist selling or licensing their artwork, which lets individual sell to business.
It is now as easy providing goods and services. About the product and services, it requires a lot of research.
History of Ecommerce:
At some point, most of us have shopped online for something, in eCommerce which means we have taken part. When companies used an electronic system called the Electronic Data Interchange to facilitate the transfer of documents goes back to the 1960s. Through an online retail website, this involved the sale of a CD called NetMarket.
To do their online shopping for people new technology continues to make it easier. By downloading apps to make purchases people can connect with a business through smartphones and other devices. The eCommerce industry has also helped, which reduces costs for consumers with the introduction of free shipping.