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Today, running an online business is a natural part of retailers world, and there are many resources mentioning eCommerce with all its attributes. But do you know what does exactly eCommerce mean?
eCommerce, also known as electronic commerce, is trading in products or services, but also making transactions using computer networks or any electronic means. So in short, the eCommerce term is connected with buying and selling goods over the internet.
Regarding performing the transaction, eCommerce is connected with technologies, such as e-payments, mobile commerce, e-marketing, automated data analysis systems, electronic data interchange, supply chain management, inventory management systems.
eCommerce can be thought of as an advanced medium of transacting businesses and it’s now very common. Almost every product or service can make use of electronic commerce as their form of trading, from financial services and tickets selling to online products selling.
eCommerce is usually classified into four categories, depending on the transaction’s nature. See its characteristics below.
Consumer to business (C2B): this category of electronic commerce transaction is rapidly growing. It can be defined as a form of the transaction whereby consumer sells goods or services to a company. This can involve companies bidding on a consumer’s product or services offered e.g. blogging services.
Business to Consumer (B2C): that’s when businesses are selling their products or services to the public. In short, this is a type of transaction between retailers and their customers.
Consumer to consumer (C2C): this form of transaction is usually made through online forums, classified ads, or marketplace websites that allow customers to sell their items online. The best example here can be services such as Craigslist.
Why people choose the internet to sell and buy goods? Here are some electronic commerce benefits, which are highlighted mostly.
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