E-commerce is a frequently used term on daily basis, is referred to as conducting any business transactions on the Internet or thru other electronic devices such as phones and televisions. Stores that sell their goods or services online are named E-commerce stores. Some believe that as Internet users expand and increase, E-commerce is either willingly or unwillingly transformed into the principal method of conducting business transactions. Reducing costs, saving time, unmediated trade, healthy competition, advertising expansion, and the ability to analyze them are all accounted as the benefits of E-commerce. Amazon is an E-commerce website or a so-called online store.
Models of E-commerce
Generally, when someone is asked “what E-commerce is”, its B2C segment is evoked in someone’s mind. But E-commerce includes several types as major ones listed below.
Business to Business E-commerce(B2B): Trading among organizations are referred to as B2B trade, for example, when producers sell their products online to a distributor. Consider the car supply chain; this cycle can include hundreds of business and B2B relationships for the production of a single car that is ultimately sold at its final stage to the end consumer.
Customer to Customer E-commerce(C2C): It is referred to direct individual communication and connection for sale and provision of services. This sale is usually performed via a site as a third person or as a secure place of exchange, to make transaction details more transparent. The purpose of C2C E-commerce is to allow consumers to directly sell goods or services to other consumers without going through intermediaries. This kind of trade allows the seller to gain more profit and the buyer potentially purchases goods or services at the appropriate price.