Insights Into E-commerce

What is E-commerce?

(High Score Labs, 2021)

The act of buying and selling products or services online through the internet is known as e-commerce (Oracle, 2023). According to Laudon and Traver (2017), e-commerce has grown rapidly in recent years, with businesses of all sizes now using the internet to reach customers, sell products and services, and conduct transactions. This includes a wide range of activities such as online retail, electronic payments, and online marketplaces. E-commerce has brought many benefits such as convenience, 24/7 availability, and a wider range of products, however, it also poses challenges such as security, privacy, and fraud.

Depending on their goods, services, and organisation, ecommerce businesses can operate in a variety of ways.

Business to consumer; in which a company sells directly to end users, is a popular business model.

Business to business refers to when a company sells to other businesses; Business to government is when a company sells to government agencies.

Consumer to consumer involves consumers selling to other consumers via digital marketplaces.

Consumer to business refers to when consumers offer their services to businesses via platforms such as Upwork.

Finally, consumer to government occurs when consumers interact with government entities via transactions such as uploading tax returns or paying tuition online.

(Bloomenthal, 2022)

References

Bloomenthal, A. (2022). Electronic commerce (e-commerce). [online] Investopedia. Available at: https://www.investopedia.com/terms/e/ecommerce.asp [Accessed 20 Jan. 2023].

How B2B companies can up-level ecommerce with Episerver product recommendation (2021) High Score Labs. Available at: https://hsl.chapinindustries.com/2021/06/29/how-b2b-companies-can-up-level-ecommerce-with-episerver-product-recommendation/ (Accessed: January 12, 2023).

Laudon, K. C., & Traver, C. G. (2017). E-commerce 2017: business, technology, society. Pearson

What is Ecommerce (2023) Oracle. Available at: https://www.oracle.com/cx/ecommerce/what-is-ecommerce/ (Accessed: January 12, 2023).

Comments

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