What is Ecommerce?
Ecommerce is also known as electronic commerce or internet commerce. “Buying and selling of goods and services using the internet is ecommerce.” Alternatively, “it is 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 e-business platforms to sell their products and services at a large scale.
Types of Ecommerce Models
There are four types of ecommerce models, 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: Upwork, where freelancers post their services, and interested businesses respond to them.