Before we really dwell into the essentials, we need to first begin comprehending the scale and scope of ecommerce business. It is undoubtedly a way out of the 9 to 5; a tried and tested method to truly achieve financial independence. The growth in terms of number of ecommerce companies that are entering into the ecommerce foray has been steadily increasing at a 50-100% of the preceding year. For business owner who would want to milk what is best out of their business; a thorough exploitation of the ecommerce space is a must. Your customers are all there and you should be too!
What Is Ecommerce?
Ecommerce or electronic commerce refers to buying and selling things through the internet, with the online transfer of money to fulfil the transaction. Ecommerce is what you would say, to when you sell physical product through the internet, but it can also mean any kind of commercial transaction that happens via the internet.
Ecommerce is a part of e-business. While e-business refers to all parts of operating an online store or business, ecommerce looks solely at the “transactional” portion of the goods and service between the buyer and the provider.
Ecommerce has evolved and made it easier to make products easier to find and to procure them through the use of online marketplaces and sellers. It has not been just the store, but also individual freelancers and large corporations as well that have been able to reap the rewards of ecommerce without which none of this would have been possible.
Ecommerce models differ and can be split to 4. These are:
B2C (Business To Consumer)
This is the selling of goods from the business to an individual consumer. When you head to an online store to buy a shirt or a top, then it is called B2C.
Business To Business (B2B)
This is the selling of goods between two businesses. When a business sells computer parts to another business, then it is B2B.
Consumer To Consumer (C2C)
This is selling of products from a consumer to another consumer. When you sell your used treadmill online, then that is called C2C.
Consumer To Business (C2B)
When a consumer sells their products to another business or organisation, then it is called C2B. If you are a freelancing sound composer that puts his tunes on sound cloud, then a business that wants to use your track will ask a licensing from you. This is consumer to business ecommerce.