Online Business

Any one can start your own online business through the online plateform E-commerce, or electronic commerce, is the process of buying and selling goods and services over the internet through various digital devices and platforms.

E-commerce plateform is a network for selling goods and buying goods though online services. It work from any where from good network area.

E-commerce plateform on your own franchise works as a distribution and selling goods through online from any where on universe.

Electronic commerce, or e-commerce, is the buying and selling of goods and services over the internet. E-commerce can be conducted on computers, tablets, smartphones, and other smart devices. Nearly every imaginable product and service is now available through e-commerce, and it has upended how many companies and entire industries do business.

What Is E-commerce.....?

Electronic commerce, or e-commerce, is the buying and selling of goods and services over the internet. E-commerce can be conducted on computers, tablets, smartphones, and other smart devices. Nearly every imaginable product and service is now available through e-commerce, and it has upended how many companies and entire industries do business.

Key Takeaways

#E-commerce is the buying and selling of goods and services over the internet.

#It is conducted over computers, tablets, smartphones, and other smart devices.

#Almost anything can be purchased through e-commerce today, and it has lowered the barriers to entry for many types of businesses, such as retailers.

#E-commerce can be a substitute for brick-and-mortar stores, though some businesses choose to maintain both.

#E-commerce operates in several market segments, including business-to-business, business-to-consumer, consumer-to-consumer, and consumer-to-business.

Understanding E-commerce

*As noted above, e-commerce is the process of buying and selling products and services online. But it involves more than simply a buyer and a seller, relying on a vast, often invisible, infrastructure to keep it running.

*E-commerce has helped companies (especially those with a narrow reach, like small, local businesses) gain access to a wider market by providing cheaper and more efficient sales and distribution channels for their products or services.

*While some businesses exist entirely online, others straddle the real and virtual worlds.

*At the other end of the scale spectrum, individual sellers increasingly engage in e-commerce transactions via their own personal websites. And digital marketplaces like eBay and Etsy serve as exchanges where multitudes of buyers and sellers can come together and do business.

E-commerce can be thought of as a digital version of mail-order catalog shopping, which once revolutionized retailing in its own way.

History of E-commerce

Most of us have shopped online for something at some point, which means we've taken part in e-commerce. So it goes without saying that e-commerce is everywhere. But very few people may know that e-commerce has a history that predates the internet.

E-commerce actually goes back to the 1960s, when companies used an electronic system called the Electronic Data Interchange to facilitate the transfer of documents. It wasn't until 1994 that the very first transaction took place. This involved the sale of a CD between friends through an online retail website called NetMarket.

Advantages and Disadvantages of E-commerce

Advantages

E-commerce offers buyers and sellers a number of advantages:

  • Convenience: E-commerce can happen 24 hours a day, seven days a week. Consumers can buy at their convenience, and business owners can make sales while they sleep.
  • Increased selection: Many stores offer a wider array of products online than they could ever carry in their brick-and-mortar counterparts. And many stores that solely exist online offer consumers exclusive inventory that is unavailable elsewhere.
  • Potentially lower start-up costs: E-commerce companies may require a warehouse or manufacturing site, but they usually don't need a physical storefront. The cost to operate digitally is often less expensive than needing to pay rent, insurance, building maintenance, and property taxes.
  • International sales: As long as an e-commerce store can find a way to ship its products to its customers, it can sell to anyone in the world and isn't limited by physical geography.
  • Opportunity to collect valuable data: Willingly or unknowingly, consumers share a lot of information on their interests and shopping habits when they buy or even just browse online. Site owners can monetize this data in a number of ways, using it themselves and selling it to others.
Disadvantages
There are also some drawbacks that come with e-commerce. Those can include:
  • Limited customer service: If you shop online for a computer, you cannot simply ask an employee to demonstrate a particular model's features in person. And although some websites let you chat online with a staff member, that is not a typical practice. A disadvantage for shoppers, this can also be a money-saver for retailers.
  • Lack of instant gratification: When you buy an item online, you must wait for it to be shipped to your home or office. However, e-tailers like Amazon now make the waiting game a little bit less painful by offering same-day delivery as a premium option for select products.
  • Inability to touch products: Online images do not necessarily convey the whole story about an item, and e-commerce purchases can be disappointing when the items don't live up to the buyer's expectations. Case in point: an item of clothing may be made from shoddier fabric than its online image indicates.
  • Dependence on technology: If a website crashes or must be temporarily taken down for any reason, the business is effectively closed until things return to normal.
Types of E-commerce
E-commerce companies can operate using several different business models.

Business-to-Consumer (B2C)
B2C e-commerce companies sell directly to the product's end-user instead of distributing goods through an intermediary such as another retailer.
This type of business model may be used to sell products (like your local sporting goods store's website) or services (such as a lawn care mobile app to reserve landscaping services). This is the most common business model and the concept most people likely think about when they hear the term e-commerce.

Business-to-Business (B2B)
Similar to B2C, an e-commerce business can sell goods to another company. B2B transactions often entail larger quantities, more detailed specifications, and longer lead times. The buyer can also arrange for recurring orders if the purchase is for ongoing manufacturing processes.

Business-to-Government (B2G)
Some e-commerce businesses serve as government contractors, providing goods or services to government agencies and other entities. Often these arrangements require bidding on projects though an established procurement process and can involve large quantities of a given item.

Consumer-to-Consumer (C2C)
Individuals can sell things to other individuals on their individual websites or through e-commerce platforms that facilitate the process. Examples of the latter include Craigslist, eBay, Etsy, and many others.

Consumer-to-Business (C2B)
Some platforms allow individuals to more easily engage with companies and offer their services, especially related to short-term contracts, gigs, or freelance opportunities. Upwork is one example.

Consumer-to-Government (C2G)
Although not an e-commerce relationship in the traditional sense, C2G is a way for individuals to interact with government. For example, uploading your federal tax return to the Internal Revenue Service (IRS) website can be considered an e-commerce transaction as it involves an exchange of information. Taxpayers can also pay what they owe or request a refund for the amount they may have overpaid.

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