Updated on November 27, 2023Table of Contents
E-commerce (electronic commerce) is a type of business transaction that occurs over electronic networks, primarily the Internet. It encompasses the sale and exchange of goods, services, information, and ideas between businesses and consumers.
What do you mean by eCommerce?
eCommerce, or electronic commerce, refers to the buying and selling of goods and services over the internet. It includes online shopping, electronic payments, online auctions, and internet banking.
What are the major types of eCommerce?
The six major types of eCommerce are Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), Business-to-Government (B2G), and Government-to-Business (G2B). Each type defines the parties involved in the transactions.
What is an example of eCommerce?
Amazon is a popular example of B2C eCommerce, where consumers purchase products directly from a business online. Another example is eBay, a C2C platform where individuals sell goods to other consumers.
What are the benefits of eCommerce?
eCommerce offers convenience, a broader reach, competitive pricing, and a 24/7 shopping experience. For businesses, it reduces costs, increases market reach, and allows personalized marketing strategies.
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