You must have heard about e-commerce at some point or the other. By the way, you will find many e-commerce websites on the internet from where you can buy things of your choice like – T-Shirts, Jeans, Shirts, laptops, Shoes, etc.
Electronic commerce or Internet commerce is also called e-commerce. Whenever we buy or sell a product through the Internet, it comes under e-commerce.
Types of E-commerce:-
Business to Business E-commerce (B2B E-commerce): – As per its name, B2B e-commerce deals with the transactions done between two businesses. For example, if a company does not make any product on its own and buys from another company and then sells its goods, then it comes under B2B.
Business to Consumer E-commerce (B2C Ecommerce): – In this transaction takes place between a business and a consumer. This is the most happening e-commerce. For example, the consumer buys goods directly from companies like Flipkart, Amazon, etc.
Consumer to Business Ecommerce (C2B Ecommerce): – This transaction is the opposite of B2C. In this, the transaction takes place between consumer and business. For example, a consumer provides an online requirement to create a website, and some company offers to make a website for it at the right price.
Consumer to Consumer Ecommerce (C2C E-commerce): – It is between two consumers i.e. two consumers. In this, something is bought and sold by two consumers among themselves. Like on sites like eBay, and OLX, in which one person sells a product or service to another.
Business to Government (B2G):- This type of e-commerce includes all the transactions done online between companies and public administration or government. It is a sector that covers a large volume and variety of services, especially in areas such as financial, social security, employment, legal documents, registrars, etc.
Consumer To Government (C2G):- It includes all electronic transactions done between consumer and administration (Government). Like paying taxes, paying for health services, getting distance education, etc.
Features of E-commerce
E-commerce provides the following features –
E-commerce enables the use of various modes of credit cards, debit cards, smart cards, electronic fund transfers, and electronic payments through the Bank’s website.
E-commerce is available everywhere and at all times. Any consumer, at any time, can sell and buy his product through the Internet.
E-commerce allows your company to reach consumers anywhere in the world so that people from all over the world can connect with your business.
E-commerce expands the reach of advertising the products and services of the business, it helps in better marketing management of the products/services.
E-commerce provides different ways to provide pre-sales and after-sales support to provide better services to the customers.
E-commerce provides methods for fast, efficient, and reliable communication with customers and partners.
Customers share information on social networks and merchants advertise their products on social networks.
E-commerce technology allows for individualization. Messages can be sent to a specific person based on a person’s name, past purchases, and the internet.
Advantages of e-commerce:
1) Enhances Convenience: Customers can order the items as per their convenience sitting at their homes. And they get its delivery at their home itself. This is the best shopping option for those who are always busy.
2) Can Compare Product and Price: While making a purchase, the customer can compare the price of that item on many websites so that he can get good deals on the best product.
Along with this, they can enjoy additional benefits like discounts and coupons.
3) Easy Fund for Start-ups: Many people have a desire to do business but do not have enough capital to take up a shop. Physical stores are very expensive to lease. E-commerce makes it easy for a business to start and grow.
Disadvantages of e-commerce:
1) Poor quality products: You cannot check by looking at the product on the internet. Hence, there is a risk of false marketing and poor-quality products coming to your home.
Recently, there have been many incidents of soap coming in place of mobile in the mobile box.
2) Unwanted purchases: Online stores display their products in large numbers and due to the convenience of online shopping, customers also buy unwanted items.
3) Internet Scammers: The Internet is a good thing, but some people have decided to use it for the wrong reasons. Before buying any item on the Internet, collect information about that website and product.