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Today the online business has been so common. People are selling goods and services electronically. This field is rapidly growing and is convenient for a lot of people. It is a very cost-effective method to start a business. So here we are to tell you about a branch of online business that is e-commerce. We shall also discuss its types as well e-commerce. WHAT IS E-COMMERCE?
E-commerce includes selling goods, products, and services electronically. This activity may be carried out through a website or any specific application and all the transactions are made online. People order services and products online.
Some people use e-commerce to build their businesses and on other hand, some people use it to grow their businesses. Such as some people grow their business using it by advertising the products that they have in physical stores. While many don’t have any physical stores or shops but they are also doing online business. WHAT IS AN E-COMMERCE WEBSITE?
It is the virtual space in which different customers order their desired products. They pay for them. The transactions occur through this website. A team is available for customer support. In this virtual environment, people showcase their products and services. TYPES OF E-COMMERCE:
- B2B: In B2B, businesses sell to other businesses and they may sell it to consumers.
- B2C: In B2C, businesses sell to consumers directly.
- C2B: In C2B, consumers sell to businesses.
- C2C: In C2C, consumers sell to other consumers.
- B2G: In B2G, businesses sell to the government or its agencies.
- C2G: In C2G, consumers sell to the government or its agencies.
- G2B: In G2B, the government and its agencies sell to businesses.
- G2C: In G2C, the government or its agencies sell to consumers.
It has a lot of advantages compared to offline marketplaces. Such as:
- Fast:
It is very fast. The buying process might not take too much time. You can order it quickly. Buyers can go through a lot of items at once sitting in one place. Whereas they would have to go to different stores to find different types of goods.
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- Cost-effective:
E-commerce websites or stores are very cost-effective. Sellers do not have to rent a physical store. They don’t have the issue of maintaining the store they can just build a website by hiring a professional person and it might not be as much expensive.
- Faster delivery:
Another pro is faster delivery. You can deliver the product to the client more quickly as compared to local stores you might not be able to provide this facility to your customers.
- Flexibility:
It is flexible for the clients too as they can easily order whether they are at any place. They don’t have to be in a particular place to order and so they can get the order at any place within less delivery time.
- Affordable advertisement:
Advertising is very much cheap in online marketplaces. Such as you can promote your innovation by using videos or infographics at a very cheap cost. This activity can be held by using media.
- Product information:
You can display pictures of it and you can add a description to it. People can see the reviews of a particular thing. You can share its price and delivery charges on the website. DISADVANTAGES:
As it is a strong source. So it is also being used to scam people. So some of its disadvantages are:
- Scams
- Lack of customer interactions with the sellers
- Lack of security
- Can’t try the product before buying
- The quality of the product maybe not be as good as displayed
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