Introduction of eCommerce

Do you want to start your own eCommerce business? Do you want to know each and every thing about eCommerce? This article will give you detailed knowledge of eCommerce. Just take a look.

Overview of eCommerce:

Simply put, eCommerce is the process of buying and selling products and services, or making commercial transactions through electronic medium such as the Internet, or any  computer network. Generally, the term “eCommerce” is used as the process of searching and selecting products in online directories, and paying for them using a credit card and encrypted payment process.

Whether you are educated or not, with eCommerce you can buy almost anything you want without physically touching the products. All you need is an internet connection and a bank account.

eCommerce is more than just exchanging goods and services electronically. By using eCommerce, businesses can find huge savings through efficient communication with their suppliers and customers. 

Types of eCommerce:

• B2B eCommerce: In this type of eCommerce, business is done between companies, like manufacturers selling to distributors and wholesalers selling to retailers.
• B2C eCommerce: In this type of eCommerce, companies sell their products and services to the end user. It has grown into the most popular and prolific form of online business.
• B2G eCommerce: It stands for business to government eCommerce, which means commerce takes place between companies and some government organization.
• C2C eCommerce: In this type of eCommerce, customers sell their products and services to other consumers. eBay is one of the most well-known examples of C2C eCommerce.

Applications of eCommerce:

E-banking:

Using internet banking or e-banking, customers can make financial transactions online using their bank accounts, credit cards, or debit cards. Also, customers can see their account details, transfer funds, take mini statements for balance inquiries and pay their bills through online banking.

Marketing:

Using the web and eCommerce, one can collect data about customer behavior, preferences, their requirements and needs. Marketing activities like price fixation, negotiation, and product feature improvements and relationships with the customer can be possible through eCommerce.

Auction:

Electronic auction gives people an opportunity as buyers and sellers to bid online and trade in a wide range of products. These auctions are web enabled and allow all registered members to bid on a single product or multiple products in a specified time period. 

Benefits of eCommerce:

• Expanded customer base
• Expanded geographical reach
• Available 24/7/365 – The never close
• Build customer loyalty
• Collect customer data
• Increase visibility through search engine marketing
• Provide customers valuable information about your business
• Reduction of marketing and advertising cost