Learn more the basics of eCommerce and its applications
What is eCommerce?
eCommerce (electronic commerce) is an area which is used in various fields of business like wholesale, retail as well as manufacturing unit. eCommerce is a subset of the e-business that concerns commerce. The activity of the exchange of goods and services with some of the other kind of payment methods can be intended as commerce. eCommerce world is an application of information sharing among business trading basically online commercial transaction with clients. Now eCommerce modules or plugins are included in all types development of CMS like wordpress.
Types of E-commerce
E-commerce is categorised into six major types they are:
Business-to-business (B2B) is a situation or an activity that processed between two companies to make a commercial transaction with one another. Simply, it can define commerce doing business with other companies. B2B transaction is entirely different from other ecommerce types like it directly sell products to other business rather than selling products to consumers. Some B2B business includes Alibaba, Woodpecker, eWorldTrade and more.
Business-to-consumer(B2C) described as a transaction directly between a business and an end consumer. A customer can view and choose the product shown on the website and buy product/services as by the approval of business. They are known as online retailers who sell products and services online. Some B2C business includes Amazon.
Consumer-to-consumer (C2C) transaction processed in between consumers. Consumer-to-consumer made a convenient way for the people who comes together to buy, sell and trade. One prominent example of C2C transaction is eBay(online consumer auction site), newspaper (online classifieds), craigslist. The main goal of C2C is to enable relationship between both buyers and sellers. They are known as the peer-to-peer business model.
Consumer-to-business is yet another transaction between consumer and business organization. Here, the transaction takes place within a site in which consumer purchase a product or services, and business bid on and purchase. Example for C2B platform are iStock, job boards.
Business-to-Administration (B2A) is also known as e-government. It is a transaction processed between business companies and public administration sector. B2A services include legal document, deal with employment, financial and more. The transaction entirely controlled by the government and only provide a medium for the business companies to submit application forms to the government.
Consumer-to-Administration (C2A) is another type of ecommerce which makes the transaction between individual consumer and administrations. Here government bodies will buy products or services, and individual consumers use electronic means like education, social security, taxes, health.
Applications of eCommerce
eCommerce development and its applications is an unavoidable sector in the present day to day life. Given below are the most common eCommerce applications.
Retail & wholesale
There are numerous applications for retail as well as wholesale in the case of e-commerce. Here comes e-retailing or may be called as online retailing. This refers to the selling of goods and other services through electronic stores from business to consumers. These are designed and equipped using a shopping cart model and electronic catalog.
Using web and e-commerce, data collection about the preferences, behavior, needs, buying patterns are possible. The marketing activities like price fixing, product feature, and its enhancement, negotiation, and the relationship with the customer can be made using these.
eCommerce is being used by the financial companies to a large extent. By the name finance, we know that there will be customers and transactions. The customers can check the balance in their savings account, as well as their loan account. There are features like transferring of money from and to their own accounts, paying off bills online and also e-banking. Online stock trading is also another feature of e-commerce.
eCommerce is included and used in the chain operations (supply) of a company. There are companies that form the electronic exchange. This is by providing buying and selling items together, trading market information and the information of runback office like inventory control. This is a way that speeds up the flow of finished goods and the raw materials among the business community members.
eCommerce customer to customer is direct selling of goods among customers. It includes electronic auctions that involve bidding system. Bidding allows prospective buyers to bid an item. In Airline Company they give bidding opportunity for customers to quote the price for a seat on a specific route, date and time.
Yes! e-commerce sector have the keen future in the field of educations and learning. In educational training also e-commerce has a major role in interactive education, video conferencing, online class and for connecting different educational training centers. Due to the success growth in the e-commerce business sector, many educational institution have decided to create a new learning with new trends and challenges.
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