INTO THE WORLD OF E-COMMERCEby Rohan Sinha Author
The process that involves the exchange of good and service for a price online is called e-commerce. The customers will buy the products from the sellers and the sellers will sell them in exchange for a cost on any online platform. This transactional process is also known as e-tail. The growth of e-commerce websites have grown tremendously over the past few years. Everybody is shifting to online stores or websites when it comes to shopping, because it is energy and time saving. During this pandemic time, people don’t prefer going out much but daily needs should be fulfilled. This is where online sites come for the rescue.
The different types of e-commerce sites are:
- B2C (Business to Consumer): This is the most common and basic form of e-commerce where the businesses sell their products and services to the customers. The purchase decision is comparatively less than B2B (Business to Business) because the value of the products is less. For example, if you want to buy a pair of jeans, you will take much time to think and buy but if you are buying jeans making machines, then the decision will obviously take time.
- B2B (Business to Business): This transaction takes place between business companies. The jeans manufacturing company will buy machines from a machine manufacturing company.
- C2B (Customer to Business): Here, the customer has the power to fix the price and sell their products. This is a concept which wasn’t that popular before but with the help of technology and creativity individuals can sell their products or services to business companies.
- C2C (Customer to Customer): This business connects customers for the transactional process. One customer will buy products/ services from another customer. The concept of thrift shopping comes under C2C, where customers put up their used products for sell and another customer can re-wear the same products.
Benefits of E-Commerce:
Availability: Since, online platform can be easily available for the people 24x7, people will prefer online sites more.
Speed: In a crowded store, it will take for people to get the final purchase. But in an e-commerce site, you can keep the products in the cart and make the final purchase whenever you want. It is a time saving transactional process.
Easy access: If network is available, customers can access the online store or shop whenever they want and from wherever they want. You don’t have to travel miles to access your favorite store. All you have to do is open the website, search the products and you grab your favorite stuff easily.
Cost effective: Since you are saving money on your physical access to the store, the ecommerce is a cost effective activity.
Easy reach: People from anywhere around the world can access, it becomes easy for the businesses to reach their customers.
Since, e-commerce provides a lot of benefits to the customers as well as the businesses. It is very crucial that the business organization hire an e-commerce development agency.
Created on Oct 26th 2020 00:41. Viewed 79 times.