E commerce and its advantages

By
Yasir Ahmad
-
Source: Medium

Purchasing and selling of goods, products, or services over the internet is what is referred to as “e-commerce” or “electronic commerce.” E-commerce is often referred to as electronic commerce and business conducted via the internet. These services are offered digitally, via the global network of the internet. The exchange of data, money, and funds is also regarded to fall under the umbrella of e-commerce. These commercial dealings may be conducted in one of four different ways: business to business (B2B), business to customer (B2C), customer to customer (C2C), or customer to business (C2B). A commercial transaction that takes place over the internet is typically referred to as “e-commerce,” which is an abbreviation for “electronic commerce.” E-commerce websites include the likes of Amazon, Flipkart, Shopify, Myntra, Ebay, Quikr, and Olx, which are examples of online stores. The potential value of all retail sales conducted online worldwide could exceed $27 trillion by the year 2020. Let’s get some more information on the many sorts of e-commerce, as well as the benefits and drawbacks of using each one.

 

E-commerce is a common term that refers to electronic commerce or even commerce conducted over the internet. Its purpose is to bring together people who are interested in buying and selling items through the internet, as the name suggests. This includes the buying and selling of products and services, the moving of money, and the sharing of information with one another.

 

Therefore, if you go to Amazon and buy a book through their website, you are engaging in a classic example of an online commercial transaction. After interacting with the vendor (in this case, Amazon), exchanging information in the form of photographs, text, addresses for delivery, etc., and finally making the payment, you will arrive at this page.

 

E-commerce is currently one of the areas that is expanding at one of the quickest rates in the overall economy. According to one estimation, its annual growth rate is close to 23%. Furthermore, by the end of this decade, it is anticipated that the industry would be worth $27 trillion.

 

E commerce models

  1. Business to Business

These are business transactions between two businesses. Here, the many companies are engaged in commercial transactions with one another. The end user does not play a role in this process. Therefore, only the manufacturers, distributors, merchants, and so on are involved in the online transactions.

 

  1. Business to Consumer

Direct to consumer marketing. In this scenario, the corporation will offer their products and/or services straight to the end user. The customer can look at the products, read customer reviews, and view images of the goods on the company’s website. After that, they place their order, and the corporation sends the goods to them without any intervening steps. Examples such as Amazon, Flipkart, and Jabong are very popular.

 

  1. Consumer to Consumer

Consumer to consumer refers to situations in which individual customers interact directly with one another. There is not a single company participating. It facilitates the sale of individuals’ personal belongings and assets to a third party who is interested in purchasing them. In most cases, things such as automobiles, bicycles, technological devices, and the like are traded. This model is followed by OLX and Quikr, among others.

 

  1. Consumer to Business

This is the opposite of business-to-consumer, which stands for business-to-consumer. Therefore, the consumer supplies the corporation with a good or some sort of service. Consider the case of a self-employed information technology worker who promotes and sells his own software to businesses. This is considered a business-to-business transaction.

 

E commerce and its advantages

  1. A larger audience is accessible to businesses

E-commerce makes it easier to connect with a huge number of potential customers without the need to first determine an ideal physical site for a retail business. The audience can be targeted in a more straightforward manner, which ultimately results in the generation of leads.

  1. Costs to run a business are lower

When companies are handled electronically, there is a reduction in the costs associated with running the firm. There will be a decrease in either the office space or the rent. The burden of flashing the advertising boards that are both the most expensive and the most conspicuous is also lifted. Because the profit margin is much higher than average, the prices charged to customers are also much lower than average.

.

  1. It’s easier for the customer to shop from home

People all across the world have seen a sea change in their way of life as a direct result of the coronavirus. People feel better at ease purchasing things online rather than physically visiting to a crowded market. This trend began with purchases of food and apparel and has since progressed to include considerations of preferences and tastes. In the past, going to the market was a common practise that was favoured for a variety of reasons. On the other hand, now that COVID has been overturned, people are more willing to put their faith in businesses that sell things online.

 

  1. Shoppers now have easy access to product information across many brands

As a result of the proliferation of internet businesses, consumers are now more knowledgeable about the many different brands and varieties available. They are now more brand and quality concerned than ever before. Customers are able to learn more about the brands’ specs through e-commerce, and they can then determine their preferences based on this information.

.

  1. Varieties are offered

The traditional method of doing business was not an easy-to-go-job for many, as it involved higher costs and more in-depth understanding of the industry. On the other hand, running an online business is generally simpler because there are fewer overhead expenses, a smaller personnel, and a smaller physical footprint. As a direct consequence of this, the level of competitiveness has significantly risen across all industries. This has shown to be beneficial for customers, as a result of which they are serviced better with a broader selection of high-quality options in an atmosphere of intense competition.

 

  1. Direct communication

In the old model of a company’s operations, the supply chain would not allow the original manufacturer to have direct contact with the end users of the product. As a result, there was a significant divide between the consumers and the manufacturers. Consumers are now able, as a result of the rise of e-commerce, to very simply communicate their likes and dislikes, which provides manufacturers with the information they need to make the necessary customizations.

 

Conclusion

There are currently 12–24 million websites that are used for commercial transactions online, and that number is growing at an exponential rate.  The future is e-commerce, or it isn’t. It is highly conceivable that the existing companies will fail in the not-too-distant future if they do not adapt to both, the old, and the emerging modes of conducting business, i.e., e-commerce. It is not possible to make the maximum profit through traditional retailing alone.

 

RELATED ARTICLESMORE FROM AUTHOR

113 COMMENTS

  1. Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?

  4. Wow, fantastic weblog format! How lengthy have you ever been blogging for?
    you made blogging look easy. The entire look of your site is
    great, let alone the content! You can see similar here e-commerce

  8. ufabet auto เว็บแทงบอลราคาดี มีคู่บอลเปิดให้แทงมากที่สุด บาคาร่า อันดับ1 ศูนย์รวมเกมพนันทุกเกม สมัครง่าย ไม่มีขั้นต่ำ

  9. THE ONE CARGO บริการ โอนเงินไทยไปจีน นำเข้าสินค้าจากจีน หลากหลายรูปแบบ นำเข้าแบบกิโล นำเข้าแบบปลีก และนำเข้าแบบเหมาตู้ มีทั้งทางเรือ / รถ หากทำกับเรามีบริการดีๆ เช่น ระบบติดตามสถานะ Tracking มีโกดังจีน – ไทย และมีพนักงานสั่งของทุกวันที่สามารถใช้ภาษาจีนสื่อสารกับร้านค้า หรือลูกค้าได้อย่างมีประสิทธิภาพ

  12. Профессиональный сервисный центр по ремонту ноутбуков, макбуков и другой компьютерной техники.
    Мы предлагаем:ремонт ноутбуков macbook pro
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  22. Профессиональный сервисный центр по ремонту радиоуправляемых устройства – квадрокоптеры, дроны, беспилостники в том числе Apple iPad.
    Мы предлагаем: ремонт квадрокоптера
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  28. Профессиональный сервисный центр по ремонту источников бесперебойного питания.
    Мы предлагаем: ремонт источников бесперебойного питания
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  31. Профессиональный сервисный центр по ремонту варочных панелей и индукционных плит.
    Мы предлагаем: сервис по ремонту варочных панелей
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  32. Профессиональный сервисный центр по ремонту бытовой техники с выездом на дом.
    Мы предлагаем:сервисные центры по ремонту техники в екб
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  37. Профессиональный сервисный центр по ремонту фото техники от зеркальных до цифровых фотоаппаратов.
    Мы предлагаем: диагностика и ремонт фотоаппаратов
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  41. Профессиональный сервисный центр по ремонту бытовой техники с выездом на дом.
    Мы предлагаем:сервисные центры в новосибирске
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  49. Профессиональный сервисный центр по ремонту стиральных машин с выездом на дом по Москве.
    Мы предлагаем: ремонт стиральных машин москва
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  50. Профессиональный сервисный центр по ремонту бытовой техники с выездом на дом.
    Мы предлагаем: ремонт крупногабаритной техники в казани
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  52. Профессиональный сервисный центр по ремонту фототехники в Москве.
    Мы предлагаем: надежный сервис ремонта фотовспышек
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!
    Подробнее на сайте сервисного центра remont-vspyshek-realm.ru

  60. Entre agora no site oficial Mostbet e descubra promocoes exclusivas | Receba bonus exclusivos usando o codigo promocional Mostbet | Participe do cassino online Mostbet e ganhe premios em dinheiro | Faca suas apostas com o aplicativo Mostbet disponivel para Android e iOS | Aproveite as odds vantajosas do Mostbet para apostas esportivas | Jogue com seguranca e confianca no site oficial do Mostbet | O Mostbet oferece uma ampla gama de opcoes de apostas | Ganhe com as odds competitivas do Mostbet Brasil | Faca o download do aplicativo Mostbet e esteja sempre conectado mostbet brasil [url=https://mostbet-casino-brasil-br.com/]mostbet brasil[/url].

  66. Mostbet O‘zbekistonda eng yaxshi o‘yin tanlovlarini taklif etadi | Mostbet – sportga pul tikish va kazino o‘yinlarida birinchi tanlov | Mostbet orqali yutuqlar va bonuslarni qo‘lga kiriting | Mostbet orqali yangi o‘yinlar va yuqori koeffitsiyentlardan bahramand bo‘ling | Mostbet-da yangi o‘yinlarni sinab ko‘ring va katta yutuqlar qo‘lga kiriting [url=https://mostbetazcasino.com.az/]mostbet com[/url]

  74. Download the Mostbet app for easy access | Mostbet offers the ultimate betting experience | Enjoy live casino games with Mostbet Bangladesh | Discover innovative features on the Mostbet app | Mostbet Bangladesh offers fast and secure payments | Join Mostbet for a chance to win exciting rewards [url=https://mostbetbdbangladesh.com]Mostbet app Bangladesh[/url].

  76. Mostbet app ensures secure and smooth betting | Enjoy live casino games on Mostbet Bangladesh | Mostbet casino provides endless entertainment options | Win massive jackpots with Mostbet casino games | Mostbet online brings top sports betting to your fingertips | Mostbet registration takes less than a minute | Bet big and win bigger with Mostbet bonuses Mostbet bonuses.

  84. Предлагаем услуги профессиональных инженеров офицальной мастерской.
    Еслли вы искали сервисный центр philips, можете посмотреть на сайте: официальный сервисный центр philips
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  85. Предлагаем услуги профессиональных инженеров офицальной мастерской.
    Еслли вы искали сервисный центр philips в москве, можете посмотреть на сайте: сервисный центр philips в москве
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  86. Предлагаем услуги профессиональных инженеров офицальной мастерской.
    Еслли вы искали сервисный центр philips в москве, можете посмотреть на сайте: сервисный центр philips
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  88. Предлагаем услуги профессиональных инженеров офицальной мастерской.
    Еслли вы искали сервисный центр philips, можете посмотреть на сайте: сервисный центр philips в москве
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  89. Mostbet giriş prosesi çox sadədir | Mostbet az ilə oyun dünyasına daxil olun | Mostbet az tətbiqi istifadə etmək çox rahatdır | Mostbet az oyunçular üçün xüsusi təkliflər təqdim edir | Mostbet ilə asanlıqla mərc edin və qazanın | Mostbet kazinosunda canlı mərc etmək həyəcanlıdır | Mostbet oyunçular üçün yüksək səviyyəli xidmətlər təqdim edir | Mostbet az oyunçular üçün əlverişli seçimdir | Mostbet az ilə hər zaman yüksək əmsallardan istifadə edin Mostbet təhlükəsizlik.

  91. Mostbet ilə təhlükəsiz mərc təcrübəsi yaşayın | Mostbet kazinosunda müxtəlif oyunlardan zövq alın | Mostbet azərbaycanlı oyunçular üçün xüsusi bonuslar təklif edir | Mostbet ilə risksiz mərc edin və zövq alın | Mostbet ilə hər zaman yüksək əmsallardan yararlanın | Mostbet ilə yüksək keyfiyyətli oyunlardan zövq alın | Mostbet az qeydiyyatı ilə xüsusi endirimlərdən faydalanın | Mostbet ilə hər yerdən mərc edin və qalib gəlin | Mostbet ilə təhlükəsiz mərc təcrübəsi əldə edin Mostbet casino.

  92. Mostbet Azərbaycanda ən etibarlı mərc platformasıdır | Mostbet az kazinosunda canlı oyunlara qoşulun | Mostbet ilə həm mərc edin, həm də əylənin | Mostbet az kazinosunda yeni oyunlarla əylənin | Mostbet Azərbaycan bazarında lider mövqeyindədir | Mostbet kazinosunda canlı mərc etmək həyəcanlıdır | Mostbet oyunçular üçün yüksək səviyyəli xidmətlər təqdim edir | Mostbet ilə risksiz mərc edin və qazanmağa başlayın | Mostbet oyunçular üçün ən yaxşı bonuslar təqdim edir domen com.

  94. Предлагаем услуги профессиональных инженеров офицальной мастерской.
    Еслли вы искали срочный сервисный центр asus, можете посмотреть на сайте: срочный сервисный центр asus
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  95. Предлагаем услуги профессиональных инженеров офицальной мастерской.
    Еслли вы искали сервисный центр asus цены, можете посмотреть на сайте: сервисный центр asus адреса
    Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!

  105. Mostbet orqali qulay ro‘yxatdan o‘tish usullari | Mostbet uz ro‘yxatdan o‘tish va birinchi bonusni olish | Mostbet rasmiy sayti orqali kirish va ro‘yxatdan o‘tish | Mostbet uz ro‘yxatdan o‘tish va o‘yinlarni boshlash | Mostbet uz apk skachat va bonuslarni faollashtirish | Mostbet apk skachat va o‘yinlarga kirish imkoniyatlari | Mostbet uz mobil ilovasi orqali xavfsiz o‘ynash | Mostbet uz apk skachat va sport turlariga pul tikish mostbet minaz.

  111. промокод на продамус скидка подключение [url=https://krasnogorsk.anihub.me/viewtopic.php?id=18111#p23006/]https://rubiz.forum.cool/viewtopic.php?id=3874#p13[/url] .

LEAVE A REPLY

Please enter your comment!
Please enter your name here