What is ecommerce?
Ecommerce, also known as internet commerce or electronic commerce, refers to the buying and selling of merchandise or services using the internet, the transfer of money and data to execute these transactions.
Ecommerce is often used to refer to the sale of physical products online. But it can also describe any kind of commercial transaction that is facilitated through the internet.
while e-business refers to all aspects of operating an online business. eCommerce refers specifically to the sale of goods and services.
E-commerce has evolved to make products more convenient for you, the reason is to discover and buy products through online retailers and marketplaces. Independents, small businesses, and big companies have all benefited from e-commerce. It allows them to sell their goods and services with a system that was not possible in traditional offline commerce.
Four main types of eCommerce models can describe any transaction that takes place between consumers and businesses.
Business to Consumer
When a business sells a commodity or service to an individual consumer.
Business to Business
When a business sells a commodity or service to another business.
Consumer to Consumer
When a consumer sells a good or service to another consumer.
Consumer to Business
When a consumer sells their services or products to a business or organization.
Examples of Ecommerce
Retail
It is the sale of a product by a business directly to a customer without any intermediary and
Wholesale
It is the sale of products in bulk, often to a retailer that then sells them directly to consumers and
Dropshipping
It is the sale of a product, which is manufactured and shipped to the consumer by a third party and
Crowdfunding
It is the collection of money from consumers in advance of a product being available to raise the startup capital necessary to bring it to market and
Subscription
It is the automatic recurring purchase of a product or service regularly until the subscriber chooses to cancel and
Physical products
It is any tangible good that requires inventory to be replenished and orders to be physically shipped to customers as sales are made and
Digital products
It is downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use and
Services
It is a skill or set of skills that is provided in exchange for compensation. You can purchase the service provider’s time for a fee.
