Ecommerce is an electronic commerce system or internet commerce, it implies the buying and selling of goods or services facilitated through an internet site, and the allocation of money and data to carry out these transactions. While e-business describes all aspects of operating an online business. Independent freelancers, small businesses, and large corporations have all benefited from ecommerce allowing them to market their goods and services at a scale that was not feasible with traditional offline retail. Global retail ecommerce sales are estimated to reach $27 trillion by close of 2020. There are several types of e-commerce transactions such as: Business to Consumer (B2C): When a business sells a good or service to an individual consumer for example You purchase a pair of glasses from an online retailer. Business to Business (B2B): Businesses market goods or services to other Businesses for instance a business sells software-as-a-service for other businesses to utilize. Consumer to Consumer (C2C):A consumer offers goods or services for sell to another consumer “You sell your old glasses on eBay or Shopify to another consumer.Consumer to Business (C2B): Consumers that market their own products or services to a business, as if an influencer offers exposure to their online audience in exchange for a fee. Retail isthesale of a product by a business plainly to a customer without any liaison. Wholesale:The sale of products in bulk, often to a retailer that then sells them directly to consumers.Drop shipping:The sale of a product, which is manufactured and shipped to the consumer by a third-party vendor unbeknownst to the consumer.Crowdfunding:The compilation of money from consumers in advance of a product being available in order to raise the startup capital needed to bring it to market. Subscription:The automatic recurring purchase of a product or service on a regular basis until the subscriber chooses to cancel. Physical products:Any concrete good that entails inventory to be replenished and orders to be physically shipped to customers as they are being sold.Digital products: Downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use.Services:A skill or set of skills provided in exchange for payment; the service provider’s time can be purchased for a fee. Pick one our knowledgeable Experts below to support your E-commerce Business needs!
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