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All About eCommerce
eCommerce | Have you bought anything online recently? We are sure the answer to this question would be a yes. Buying and selling products and services online is a part of what we call E-commerce or electronic commerce. It includes a wide variety of systems, data, and tools for buyers and sellers, creating a webflow and mobile shopping and online payment.
Types of eCommerce
When it comes to e-commerce, generally, it can be divided into these 6 models.
- B2C (Business to Consumer): this is the most common and popular sales model and involves online transactions between businesses and consumers. When you buy a dress online, it is B2C.
- B2B (Business to Business): when two businesses transact online, such as a manufacturer and wholesaler, then it B2B.
- C2C (Consumer To Consumer): when an online transaction occurs between consumers such as buying and selling on eBay or other such platforms.
- C2B (Consumer to Business): this is not very common, and, in this model, individual consumers sell their products and services to businesses. For example, photos taken by individuals can be bought by companies for use.
- B2A (Business to Administration): online transactions between businesses and administrations such as products and services related to legal documents and social security.
- C2A (Consumer to Administration): when consumers sell online to an administration, it is C2A. This may include online tax preparation, online education consulting.
Advantages of eCommerce
E-commerce is beneficial to both sellers and buyers, but some of the advantages for sellers are:
- It is quite easy to set up an e-commerce site, unlike a physical store. There are already enough platforms that allow you to create your own store. These platforms already have a template, and you can tweak it a bit to make it more personal. Even Amazon and eBay are seller-friendly, and with just a few clicks, you are ready to sell.
- Undoubtedly, a big advantage of the e-commerce marketplace is the low cost it entails. It allows you to make many of the big investments that traditional selling may demand, such as infrastructure, inventory, workforce, etc. You can even manage with a lesser number of people, at least in the initial phase.
- Thanks to faster internet and smart mobiles, it is common for clients to first search for products online and only then visit a physical store. E-commerce allows for better research and comparisons. To attract potential buyers, e-commerce and online presence are highly beneficial.
- Online selling allows you to collect and measure customer data, which offers you a chance to provide a great customer experience. Feedbacks and reviews are some of the means through which you can understand what your customer wants and then customize your products and services accordingly.
- Because an online site has no boundaries or limits, it is possible to reach new markets and customers. There is no limit to who can visit your store, and this opens up the market and your products to a wider range of customers who could be anywhere around the world.
As long as people have the internet and smart gadgets to connect to the internet, e-commerce will continue to thrive. It has many advantages for both buyers and sellers. It is also an industry that is constantly evolving. New trends in e-commerce try to include more and more people in online transactions. The future of E-commerce is exciting, and many newer and bigger changes can be expected.
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