What is E-commerce ( E-commerce Definition )
Ecommerce is basically a buying and selling of products, goods, and services online using an electronic payments gateways and by the mean of the internet. Ecommerce or Ebusiness people mostly take as a reference to online shopping but is more than that any business which is conducted through the internet and electronic payments are involved it is actually an ecommerce.
History of E-Commerce
It is started in 1960 when sharing of electronic documents between companies than the individual user on the internet start growing and they start sharing documents then the ecommerce revolution cames in 1990 when eBay and Amazon hit the market then the concept of ecommerce totally changed. Now Billions of buying and selling daily happening by the mean of ecommerce
Ecommerce Business Includes
Online Shopping is biggest ecommerce business happening in today world. The e-commerce giants like Alibaba, Amazon, Aliexpress, Ebay are generating Trillion of dollar yearly and it is increasing day by day.Also, small home-based individual Ecommerce business also makes millions of dollar and change the whole concept of ecommerce world.
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Electronic Payments is a payment mechanism for paying online for goods using your debit or credit card. Using Electronic payments people around the world are connected and buy any products from anywhere it will be delivered to your doorstep. Paypal is one of the most used online purchasing methods and it gives a buyer lot of confidence to the buyer can easily get refunds if you don’t get the product or any other reason.
Now The Online Auction of products reaches a lot of customers as compared to the tradition online Action which has a limited buyer. Now people all around the world can buy any auction product using electronic payments.
Now you can buy air, train, movies, and events tickets online by sitting at your home.
Different Types of Ecommerce Business
Business To Business(B2B): The business b/w both business parties e.g Traders, Manufacturers, Retailers
Business to Consumer (B2C): When businesses sell some products or goods electronically to the end user.
Consumer to Consumer (C2C): Auction sites are a good example of C2C ecommerce. When Consumer sell their products to another Consumer
Check This Types of Ecommerce Video To get better Understanding
Benefits of Ecommerce
The future of ecommerce business is very bright and ecommerce is changing the mind and life of the people. Most people now prefer online shopping instead of going to a retail shop.
Few Benefits are mention below
- It saves a lot of Time.
- Online shopping makes a life a lot easier,
- Get all types of products on one website as compared to retail you have to go to different shops and get your products
- It connected the world now everyone all around the world can buy their favorite products.
- For business, the cost of Starting an online store is much cheaper as compared to Retail,
Future of Ecommerce
Future is Bright. No dought after 2030 the retail business is almost finished and online business will rule the world. because it is clearly seen from 2010 to 2018 with the growth of ecommerce is increasing too much. Also, the Era of Artificial intelligence is also coming with ecommerce.This technology will change the world of ecommerce for sure.