What is Ecommerce?

What Is Ecommerce?

Ecommerce or electronic commerce facilitates online transactions and transfer of information for your business. It can be highly beneficial for both the business owners and the consumers in numerous ways and allows the exchange or transfer of goods and services electronically without the barrier of time or distance.

 

Many people think ecommerce is only about buying and selling products or services online. However, ecommerce is a vast and versatile concept, here are a few examples that might give you a better idea of its meaning.

 

Common Examples of Ecommerce Websites

 

Internet banking, wherein many complex banking operations can be carried out is one of the most common examples of ecommerce. Similarly, online shopping, where sellers and buyers meet in a virtual world of shops and malls is yet another example. Few other examples include online auctions, electronic payments, online ticketing, etc.

 

What are the Benefits of Ecommerce Website?

 

There are many reasons why electronic commerce has expanded rapidly since its inception. Also, it could be said that ecommerce today is one of the most important aspects of the internet because this revolutionary concept has numerous benefits associated with it. Just to list a few of those:

  • It completely eliminates the limitations of geographical distance and time in trading
  • It helps to streamline and manage entire business operations and make them more effective.
  • Above all, cost for overhead is kept to a minimum compared to brick and mortar stores in regards to the need for showrooms, staffs etc, therefore ecommerce has helped to lower prices for goods and services for the end consumers.

Different Types of Ecommerce Websites

 

Depending on the types of participants that are involved in the transaction, ecommerce has been classified into three main categories. Business to Business or B2B ecommerce takes place between two businesses, manufacturers etc. When businesses sell their products and services directly to the end consumers, it is called Business to Consumer or B2C ecommerce. Auctioning is an example of Consumer to Consumer or C2C ecommerce.