I am optimistic that by the end of this series you should have all you need to earn your first 5 figures with eCommerce – no joke! To ensure that you did not miss out any detail I have decided to include all that is necessary for your success.
I encourage you embrace yourself as we embark on the journey that will definitely change your destiny.
So, what is E-commerce?
E-commerce or Electronic commerce refers to a wide range of online business activities (buying and selling) for products and services. It also refers to “any form of business transaction in which the parties interact electronically rather than by physical exchanges or direct physical contact.”
E-commerce is usually associated with buying and selling over the Internet, or conducting any transaction involving the transfer of ownership or rights to use goods or services through the internet.
What are the different types of E-commerce?
There are five major types of E-commerce are:
- Business-to-business (B2B).
- Business to-consumer (B2C).
- Business-to-government (B2G).
- Consumer-to-consumer (C2C).
- Mobile commerce (m-commerce).
- What is B2B E-commerce?
Business-to-business E-commerce is simply defined as E-commerce between companies. This is the type of E-commerce that deals with relationships between and among businesses.
About 80% of E-commerce is of this type, and most experts predict that B2B ecommerce will continue to grow faster than the B2C segment.
The more common B2B examples and best practice models are IBM, Hewlett Packard (HP), Cisco and Dell. Cisco, for instance, receives over 90% of its product orders over the Internet.
- What is B2C E-commerce?
Business-to-consumer E-commerce, or commerce between companies and consumers, involves customers gathering information; purchasing physical goods (i.e., tangibles such as shoes, bags, phones, laptops, wrist-watches or consumer products) or information goods (or goods of electronic material or digitized content, such as software, or e-books); and, for information goods, receiving products over an electronic network.
It is the second largest and the earliest form of E-commerce. Its origins can be traced to online retailing (or e-tailing). Thus, the more common B2C business models are the online retailing companies such as Amazon.com, eBay.com, Drugstore.com, Beyond.com, Barnes and Noble and ToysRus. Other B2C examples involving information goods are E-Trade and Travelocity.
- What is B2G E-commerce?
Business-to-government E-commerce or B2G is generally defined as commerce between companies and the public sector. It refers to the use of the Internet for public procurement, licensing procedures, and other government-related operations. This kind of E-commerce has two features: first, the public sector assumes a pilot/leading role in establishing this E-commerce; and second, it is assumed that the public sector has the greatest need for making its procurement system more effective.
Web-based purchasing policies increase the transparency of the procurement process (and reduce the risk of irregularities).
To date, however, the size of the B2G eCommerce market as a component of total E-commerce is insignificant, as government e-procurement systems remain undeveloped.
- What is C2C E-commerce?
Consumer-to-consumer E-commerce or C2C is simply commerce between private individuals or consumers. This type of E-commerce is characterized by the growth of electronic marketplaces and online auctions, particularly in vertical industries where firms/businesses can bid for what they want from among multiple suppliers. It perhaps has the greatest potential for developing new markets.
- What is m-commerce?
M-commerce (mobile commerce) is the buying and selling of goods and services through wireless technology i.e. handheld devices such as cellular telephones and personal digital assistants (PDAs). Japan is seen as a global leader in m-commerce.
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