What is Ecommerce?
Ecommerce is also known as electronic commerce or internet commerce. Ecommerce means: “Buying and selling of goods and services using the internet or the transmitting of funds and data over an electronic network; primarily the internet”. Independent freelancers, small business owners, and large corporations; all of these have benefited from ecommerce platforms to sell their products and services at a large scale.
Types of Ecommerce Models
There are four types of ecommerce models that are mentioned below:
- B2C (Business to Consumer): It means: “Business sells a good or service to an individual consumer.” Example: Buying a pair of shoes from an online retailer.
- B2B (Business to Business): It means: “Business sells a good or service to another business.” Example: Buying of tires, glass, and rubber hoses by the automobile manufacturer for its vehicles from another business.
- C2C (Consumer to Consumer): It means: “Consumer sells a good or service to another consumer.” Example: Selling old furniture on eBay to another consumer.
- C2B (Consumer to Business): It means: “Consumer sells a good or service to a business.” Example: Customer reviews, such as reviews create value for the business if it adopts the customers’ input.