Everything You Need to Know About E-commerce!
We live in an interconnected world, can you imagine living in a world pre-internet? We can do EVERYTHING online now! Would you like your groceries delivered? Need a ride somewhere in a hurry? The trading of good and services over the internet for money is so commonplace today that we take for granted that this internet exchange is a special type of commerce. E-commerce refers to business conducted over the internet, different from what takes place in traditional brick and mortar stores or in face-to-face dealings. While E-commerce has been around for over five decades, it has really become essential for businesses today within the last two decades. What can E-commerce do for your business? Just ask Jeff Bezos and Amazon. Thanks to the internet and E-commerce, a small Seattle based bookstore has become a multi-billion dollar company.
According to eMarketer, retail E-commerce reached $2.29 trillion in 2017. As more countries and consumers establish an online presence the strength of the E-commerce market is only going to grow stronger. BeeKash specializes in helping business get their slice of the E-commerce pie. E-commerce eliminates geographical and time constraints that may currently plague your business, by giving you access to customers all over the world 24/7. Now that we know what E-commerce, we can go in-depth and learn more about different type of E-commerce.
What are some different types of E-commerce?
Business to Business (B2B) E-commerce transactions are transactions that occur between two businesses such as retailers and manufacturers.
Business to Consumer (B2C) E-commerce transactions are transactions that occur when a business sells over the internet to an end-consumer
Consumer to Consumer (C2C) E-commerce transactions can include trading or selling between two non-businesses. eBay is a good example of consumer to consumer E-commerce transactions.
What are some examples of E-commerce?
Online shopping is the classic example of E-commerce. Businesses sell to consumers via their websites and online storefronts instead of or in addition to a brick and mortar store.
Online auction sites such as eBay have expanded E-commerce into both B2C and C2C sectors. Businesses and consumers can auction items to a much larger customer base than a physical auction.
Electronic payments help to facilitate the buying and selling we do online along with a number of other E-commerce transactions. Without electronic payments, we would have to mail checks or send bank wires in order to buy and sell goods online. Payment processors provide the solutions businesses need to facilitate their E-commerce transactions.
E-commerce is a crucial part of doing business today, let BeeKash help your business grow globally!