What Is Ecommerce?
Ecommerce is also known as electronic commerce or internet commerce. It is defined as: “Buying and selling of goods and services using the internet.” Alternatively, “it is the transmitting of funds and data over an electronic network; primarily the internet”. Moreover, independent freelancers, small business owners, and large corporations—all have benefited from internet commerce platforms—selling their products and services on a large scale. And there are four types of electronic commerce models, which you will discover next.
Types of Ecommerce Models
There are four types of ecommerce models, mentioned below:
1. B2C (Business to Consumer):
Here is how this model works: “Business sells a good or service to an individual consumer.” Example: Buying a pair of shoes from an online retailer.
2. B2B (Business to Business):
This model works as follows: “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.
3. C2C (Consumer to Consumer):
Here is how this model works: “Consumer sells a good or service to another consumer.” Example: Selling old furniture on eBay to another consumer.
4. C2B (Consumer to Business):
This model works as follows: “Consumer sells a good or service to a business.” Example: Upwork, where freelancers like me post their services, and interested businesses respond to them.