Ecommerce or electronic commerce is transactions or other terms of sale that are performed electronically. Despite being related in nature, as each involve buying and selling, there are differences between the two. E-commerce is possible solely when we have the internet connectivity, but talking about M-commerce, we don’t require any internet connectivity. Via M-commerce it is now possible to do Video conferencing even in places where there is not any internet. E-commerce not solely requires internet connectivity but in addition the consumption and usage of electricity whereas there is no such requirement with M-commerce. Even a layman can do M-commerce compared to E-commerce but nonetheless, using M-commerce costs more than utilizing E-commerce.
1. Business to Consumer (B2C) – As the name suggests, it’s the model involving businesses and consumers. That is the most common e-commerce segment. On this model, online businesses sell to individual consumers. When B2C started, it had a small share in the market but after 1995 its development was exponential. The basic concept behind this type is that the online retailers and marketers can sell their merchandise to the online consumer by using crystal clear knowledge which is made available via numerous online marketing tools. E.g. An online pharmacy giving free medical consultation and selling medicines to patients is following B2C model.
Besides, with E-Commerce, your online store is reachable using smartphones and other mobile devices. This means that people can buy your products from anywhere while on the move. Ever since Jeff Bezos boxed up the first book ever offered on from his Seattle garage in July 1995, e-commerce has become the Great Equalizer. It allows the smallest of businesses to compete with the giants of their industry.
When you search the Internet, you would have come across many e-commerce websites selling a variety of products. However, there are additionally many comparable websites specializing in selling a specific line of products or services such as apparel, pet accessories, trend wears, shoes or travel packages. Besides, there are some other e-commerce websites that sell many different products corresponding to smartphones, cameras, home appliances, household items, sports activities and health items, lamps, laptops, books, and so forth. The latter is something similar to a hypermarket where you will discover nearly any stuff – you name it, they have it.
As a prospective e-commerce business entrepreneur, you must first decide on your business model that best fits your need and budget. You’ll be able to either sell your merchandise solely in your online store, or you’ll be able to sell your products on marketplaces like Amazon, eBay, Etsy, etc. In the event you decide on the latter, there is no need so that you can build your own website. All you need to do is to signal-up for an account and record your merchandise at its marketplace and begin selling. You can even choose to sell your merchandise on each the platforms in parallel.
However, people with traditional business experience can succeed online with their knowledge as well – there might be a slight learning curve, however issues equivalent to niche, marketing crowd, etc. Can be beneficial to anyone with any traditional business experience. Time consuming- E-commerce model include an array of operations like provide chain, logistics, payment gateways etc. To manage all these operations e-commerce industry has to deal with this intermediates everyday. This consumes a whole lot of time to complete the whole process.
The impact of e-commerce has affected everything from the price of doing business to the level of service companies are capable of providing to the ways through which marketing happens. These changes are not going to disappear; if something, the challenge will be to stay a step ahead of the shifting nature of technology in order to take advantage of the power and reach afforded by these new marketing venues.