What is E-commerce?
E-commerce, also known as electronic commerce, refers to the
buying and selling of goods or services using electronic media. Both physical and digital products and services are selling
using an e-commerce site. And also, it can
describe any kind o commercial transaction that
is facilitated through the internet.
It is
crucial to keep in mind that e-commerce
has different spelling variations. All of
these are correct, and people used different spelling variations based on their
preferences.
- E-Commerce
- eCommerce
- Ecommerce
- e-commerce
- e commerce
History of E-commerce
The history
of e-commerce has started with primitive
electronic data transactions in the 1960s. The invention of Electronic Data Interchange (EDI) and
Electronic Funds Transfer (EFT) allowed businesses to send commercial documentation
electronically. EDI and EFT were first used in the
1970s.
The first online
retail transaction was made in 1994 by a man named Phil Brandenberger from
Philadelphia, USA. This transaction opened up the opportunity
for innovative businesses to capitalize on the emerging e-commerce industry. Amazon and eBay were among the first companies to adopt enthusiastically with electronic transactions. Dell had become the first company to record 1 million
dollars in sales online.
Type of E-commerce
There have
four types of e-commerce that exist in the world.
1. Business to Consumer (B2C)
When a
business sells its product or service to an end-user. B2C businesses used a direct selling
marketing channel.
2. Business to Business (B2B)
When a
business sells its product or service to another business. B2B businesses usually used wholesale (Selling Through Intermediaries) marketing channel to reach end-users.
3. Consumer to Consumer (C2C)
When a
consumer sells a good or service to another consumer. In this way, a consumer sells his/her product or services to another consumer through a website
or any other electronic media.
3. Consumer to business (C2B)
When a
consumer sells his /her product or service to a business. The C2B business model allows individuals to sell goods and
services to companies.
How Does E-commerce Work?
Online
business or e-commerce works as same as an offline retail store does. But all
the processes complete using online media. The whole e-commerce process can be
categories into four work processes:
Receiving
order
The first step of an e-commerce transaction processing is receiving orders from customers. A customer can place the order through the eCommerce platform such as a website or apps, and the seller makes a note of it.
Processing order
The second step is processing all the details of the order and completed. After that, the products or service is ready for delivery to customers’ home point.
Shipping
The last
step is the delivery of the product or service to customers’ doorstop. The
logistics company plays a middle-man role in this step to ensure the delivery
of the product timely.
Payment method
Most e-commerce
businesses use two types of payment methods. One is cash on delivery, and
another one is the most popular online payment method.
Example of E-commerce Business
|
Type of eCommerce |
E-commerce example in
the world |
E-commerce example in Bangladesh |
|
B2C |
||
|
B2B |
||
|
C2C |
||
|
C2B |
|
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