New technology has made online shop establishment simpler than ever. If you’re a side-hustler or a professional retailer, there’s a forum for you to help accomplish your goal. Ecommerce or digital trade involves Internet purchasing and selling of merchandise, products, or services. Ecommerce is also widely recognized as electronic commerce or internet trade. Such facilities were provided electronically across the network. Money, finances, and data transactions are also seen as e-commerce. All of these business transactions can be accomplished in several ways. Shopify, Ebay, and Amazon are some of the examples of ecommerce websites.
Ecommerce Business Models
If we look at ecommerce firms, they usually assume the shape of one or two of these four main business structures, based on who makes the order and who performs the transaction. Some of the business models of e-commerce include:
Business-to-Business (B2B)
A B2B ecommerce is a company that sells to another enterprise. This may be an actual commodity such as raw construction products, or a process such as a corporate lawyer. It might also be taking the form of a digital product or service.
Business-to-Consumer (B2C)
This is the common model used by most brands because we are the consumers. Any of the things we purchase for both ‘needs’ and ‘wants’ comes from a B2C store, from clothes to accessories, workout memberships, and wine subscriptions.
Consumer-to-Consumer (C2C)
For consumer-to-consumer trading, there is virtually no company involved, so it is typically a fairly relaxed system. Generally, the consumers interact with one another, as suggested by the name. It helps people directly sell their special belongings and assets to parties that are interested. Think of a garage sale, or like an eBay platform.
Consumer-to-Business (C2B)
This is the opposite of B2C in which the customer provides the business with a product or other type of benefit. Consider an IT freelancer, for example, who shows and markets his apps to a company. That would be a C2B transaction.
Mobile Commerce (M-Commerce)
Besides the four main ecommerce business models, there are also other various types of ecommerce that exist due to the development of ecommerce today. One significant trend in internet traffic is the growing rise in the usage of mobile phones. Most Internet access usually happens on cell phones. This has, unsurprisingly, correlated with m-commerce growth. M-commerce may look like a different kind of e-commerce. For example, a purchase of B2C that occurs on a mobile device can be both B2C and m-commerce. Since it integrates many forms of e-commerce, m-commerce has set itself up as a pioneer in e-commerce. M-commerce accounted for 34.5 per cent of all e-commerce in 2017. By 2021, m-commerce is projected to make up 53.9 per cent of all e-commerce, and only from there will progress start.
Facebook Commerce (F-Commerce)
The increasing rate of social media has changed e-commerce, with more than 3.5 billion users worldwide. The largest social media platform, Facebook, realized that by presenting a place to buy and sell goods and services, it could ensure its users stay on-site for longer. Eventually, Facebook-commerce came into existence. Although F-commerce specifically refers to Facebook, the word is also used to generally define e-commerce on social networking sites. Similar to m-commerce, F-commerce can comprise certain forms of e-commerce transactions, including B2B or B2C transactions. A sale which takes place through Facebook on a mobile device is considered both m-commerce and F-commerce.
E-commerce’s rapid growth has not just forced companies to adjust their long-term strategies. Online transactions require more phases and factors than in-person purchases, the delivery being the most significant. To meet their consumers’ shipment needs, companies need to concentrate on their supply chains. Because of the same-day delivery method, conventional supply chains aren’t really effective enough to keep companies successful.
