E-Commerce, also called as electronic business or E- business, is just the sale and buy of services and goods over an electronic medium, just like the Internet. It also involves electronically transmitting data and funds between two or more parties. Simply put, it’s online shopping as we commonly realize it . E-Commerce started way back within when organizations began to use Electronic Data Interchange (EDI) to transfer documents of their business back and forth. The 1990s saw the emergence of online shopping businesses, which is sort of a phenomenon today. It’s become so convenient and straightforward , that anyone can buy anything right from a front room , with just a couple of clicks. This has evolved more with the emergence of smartphones, where now, you’ll shop from anywhere and anytime, with a wireless device connected to the web . Now you’ll look for almost any product or service online, without having to travel anywhere physically.
E-Commerce websites are online entry that facilitate online transactions of products and services through means of the transfer of data and funds over the web . within the youth , e-commerce was done partially through emails and phone calls. Now, with one website, anything and everything that a transaction needs, are often executed online.
Types of E-Commerce websites
- Different eCommerce websites are labeled or mentioned differently, supported the function they fulfill.
- Business-to-Business (B2B): Electronic transactions of products and services between companies.
- Business-to-Consumer (B2C): Electronic transactions of products and services between companies and consumers.
For example you purchase a replacement t-shirt from a web store.
- Consumer-to-Consumer (C2C): Electronic transactions of products and services between consumers, mostly through a 3rd party.
Example: You sell your old smartphone on eBay or Olx to a different consumer.
- Consumer-to-Business (C2B): E-transactions of products and services where individuals offer products or services to companies.
Example: A Social media influence offers exposure to their online audience in exchange for a fee.