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Ecommerce Marketing
What Is E-Commerce
E-Commerce (Electronic Commerce) is the process of buying or selling products or services over the internet.
While the term e-commerce is commonly used to refer to online shopping of products and services. It includes monetary or data transactions through the internet. For example, along with online shopping stores, online auctions, wholesalers, subscription-based businesses, sales of digital products. (such as e-books, software, video courses, audio, etc.), crowdfunding platforms, online marketplaces, etc. are all part of e-commerce.
4 Types of E-Commerce Business Models
Let’s look at the four types of e-commerce business models in brief
• Business to Consumer (B2C): In the B2C business model, the business sells its offerings directly to end-users. Online retailers base their business on the B2C model. • Business to Business (B2B): A business provides its offerings to other businesses in the B2B business model. Organizations that offer B2B SaaS (Software as a Service) products or sell products in bulk follow the B2B model. • Consumer to Consumer (C2C): In this model, the transaction takes place between two customers. A user selling their pre-owned goods to other consumers is an example of the C2C model. • Consumer to Business (C2B): C2B e-commerce takes place when a consumer offers value to a business. Online portals that provide freelance services is an example of the C2B business model.
What Is an E-Commerce Platform
An e-commerce platform is a software application that enables businesses to set up and manage an online store. The application comes with all the necessary tools required to market and sell the products. It also allows business owners to review the store performance, manage inventory, define product pricing, and run promotions. Like any enterprise software, an e-commerce platform can be on premise or cloud based. Most SMBs prefer a cloud-based e-commerce platform as the upfront investment is almost negligent, and they have the freedom to scale-up or down the usage without making any significant changes in the business.