E-commerce businesses do not need a lot capital to get started. 1. Business to Consumer (B2C) – As the name suggests, it is the model involving businesses and consumers. This is the commonest e-commerce segment. In this model, online businesses sell to particular person consumers. When B2C started, it had a small share in the market but after 1995 its development was exponential. The primary concept behind this type is that the online retailers and marketers can sell their products to the online consumer by using crystal clear data which is made available via numerous online marketing tools. E.g. An online pharmacy giving free medical session and selling medicines to patients is following B2C model.
Personalization – E-commerce technologies permit personalization. Merchants can target their marketing messages to specific individuals by adjusting the message to a person’s name, interests and previous purchases. The technology additionally permits customization. Merchants can change the product or service based on user’s preferences or prior behavior.
Online auctions offer sellers a place where they can put up trade stock for buyers to make stakes. The goods here, as a rule, are cheaper as the identical itemsin the shops. However, there is one predominant advantage, the time of stock turnover shortens thereby offering sellers access to new markets. Its key difference with virtual catalogue is in the price: it isn’t fixed and is determined during the auction. Sources of income are the same.
The rapid expansion of the internet industry brings with it the onslaught of tens of millions of internet users. Different sources contend that there will soon be over a hundred million people utilizing the World Wide Web. About 25% of them are Internet shoppers. To the businessman, the internet is clearly a vital place for potential customers. Not only can it cater to more customers, it will possibly additionally expand to areas not within immediate reach of the business.
4. Peer to Peer (P2P) – Though it’s an e-commerce model however it is more than that. It is a technology in itself which helps people to directly share computer files and computer resources with out having to undergo a central web server. To use this, both sides need to install the required software in order that they can communicate on the widespread platform. This type of e-commerce has quite low revenue generation as from the beginning it has been inclined to the free usage due to which it sometimes obtained entangled in cyber laws.
One of the other main reasons why eCommerce goes to skyrocket in Sri Lanka in the coming years is that the businesses of the nation which have developed enough to contribute new merchandise to the native market. There have been many restrictions in the last decade for imports. Now that the country has come out of the internal mess, the international businesses are more than welcome there. There have been many foreign business vendors who have placed their products in the market with quite a few successful business stories.
However, I feel we all have to confess that there are plenty of benefits for consumers when it comes to e-commerce. Basically, no matter where you happen to live the internet allows you the alternative to purchase what you need or need. It may well be paid for online and then shipped to you. That is very convenient as you don’t have to leave your home to shop. You also don’t have to settle for the limited selection of items regionally. If you want to give a present that is very unique you’ll certainly be able to seek out it online.