E-Commerce or Electronic Commerce means buying and selling of products, products, or services over the web. E-commerce is additionally referred to as electronic commerce or internet commerce. These services provided online over the web network. Transaction of cash, funds, and data also are considered as E-commerce. These business transactions are often wiped out four ways: Business to Business (B2B), Business to Customer (B2C), Customer to Customer (C2C), Customer to Business (C2B).
E-commerce may be a popular term for electronic commerce or maybe internet commerce. The name is self-explanatory, it's the meeting of buyers and sellers on the web. This involves the transaction of products and services, the transfer of funds, and therefore the exchange of knowledge.
So once you log into your Amazon and buy a book, this is often a classic example of an e-commerce transaction. Here you interact with the vendor (Amazon), exchange data in sort of pictures, text, address for delivery, etc. then you create the payment.
Types of E-Commerce Models
Electronic commerce is often classified into four main categories. the idea for this easy classification is that the parties that are involved within the transactions. therefore the four basic electronic commerce models are as follows,
Business to Business
This is Business to Business transactions. Here the businesses do business with one another . the ultimate consumer isn't involved. therefore the online transactions only involve the manufacturers, wholesalers, retailers, etc.
Business to Consumer
Business to Consumer. Here the corporate will sell their goods and/or services on to the buyer. the buyer can browse their websites and appearance at products, pictures, read reviews. Then they place their order and therefore the company ships the products on to them. Popular examples are Amazon, Flipkart, Jabong, etc.
Consumer to Consumer
Consumer to consumer, where the consumers are in direct contact with one another. No company is involved. It helps people sell their personal goods and assets on to an interested party. Usually, goods traded are cars, bikes, electronics, etc. OLX, Quikr, etc follow this model.
Consumer to Business
This is the reverse of B2C, it's a consumer to business. therefore the consumer provides an honest or some service to the corporate. Say for instance an IT freelancer who demos and sells his software to a corporation. this is able to be a C2B transaction.
Advantages of E-Commerce
E-commerce provides sellers with a worldwide reach. They remove the barrier of place (geography). Now sellers and buyers can meet within the virtual world, without the hindrance of location.
Electronic commerce will substantially lower the transaction cost. It eliminates many fixed costs of maintaining brick and mortar shops. this enables the businesses to enjoy a way higher margin of profit.
It provides quick delivery of products with little or no effort on a part of the customer. Customer complaints also are addressed quickly. It also saves time, energy, and energy for both the consumers and therefore the company.
One other great advantage is the convenience it offers. A customer can shop 24×7. the web site is functional in the least times, it doesn't have working hours sort of a shop.
Electronic commerce also allows the customer and therefore the business to be in-tuned directly, with no intermediaries. this enables quick communication and transactions. It also gives a valuable personal touch.
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Disadvantages of E-Commerce
The start-up costs of the e-commerce portal are very high. The setup of the hardware and therefore the software, the training cost of employees, the constant maintenance and maintenance are all quite expensive.
Although it's going to appear to be a certainty, the e-commerce industry features a high risk of failure. Many companies riding the dot-com wave of the 2000s have failed miserably. The high risk of failure remains even today.
At times, e-commerce can feel impersonal. So it lacks the heat of an interpersonal relationship which is vital for several brands and products. This lack of a private touch is often an obstacle for several sorts of services and products like interior designing or the jewelry business.
Security is another area of concern. Only recently, we've witnessed many security breaches where the knowledge of the purchasers was stolen. MasterCard theft, fraud, etc. remain big concerns with the purchasers.
Then there also are fulfillment problems. Even after the order is placed there are often problems with shipping, delivery, mix-ups, etc. This leaves the purchasers unhappy and dissatisfied.
Salvus App Solutions is an E-Commerce Company in Jabalpur & also provides digital marketing service also, its best digital marketing company in Jabalpur.
Company name: Salvus App Solutions
Company address: Vijay Nagar, Jabalpur (M.P.) India
Pin Code: 482002
Phone Number: +91-9713099668
Email: [email protected]