what is E-Commerce? E-commerce, or Electronic Commerce, refers to the process of buying and selling goods and services, as well as the transmission of funds or data, over electronic networks, with the internet being the primary platform. Individuals and businesses can engage in e-commerce through various channels, including their own websites, established online marketplaces such as Amazon, or leveraging social media platforms to drive online sales.
The process A consumer uses Web browser to connect to the home page of the merchant’s Web site on the internet. The consumer browses the catalog of products featured on the site and selects the items to purchase. The selected items are placed in the electronic equivalent of a shopping cart. When the consumer is ready to complete the purchase of selected items, she provide a bill-to and ship-to address for purchase and delivery. When the credit cart number is validated and the order is completed at the Commerce service site, the merchant’s site displays a receipt confirming the customer’s purchase. The commerce service site then forwards order to a Processing Network for payment processing and fulfillment.
Potential The e-commerce market's potential is vast, driven by global internet access and evolving consumer preferences. Businesses leverage digital platforms to transcend geographical limitations, with global e-commerce sales reaching $4.28 trillion in 2020 alone, offering ample opportunities for growth and innovation in the digital age.
b2b B2B e-commerce is simply defined as e-commerce between companies. About 80% of e-commerce is of this type. Examples: Intel selling microprocessor to Dell. Honda selling engine to Red bull racing in F1.
b2c Business-to-consumer e-commerce involves customer gathering information, and purchasing physical goods or receiving products over an electronic network. Example: 1. Dell selling a person laptop. 2. Walter White selling drugs to a customer.
b2g B2G in e-commerce refers to businesses selling goods or services directly to government entities. Examples include software companies providing solutions to government agencies or construction firms winning contracts for infrastructure projects. These transactions involve businesses acting as suppliers or contractors to fulfill specific government needs. Example: 1. Business pay taxes, file reports, or sell goods and services to Govt- agencies.
C2C Consumer-to-Consumer e-commerce is simply commerce between private individuals or consumers. Example: Mary buying an underwear from Tony on E-Bay. Customer of Heisenberg selling C10H15N to another crackhead.
g2c This model is also a part of e-governance. The objective of this model is to provide good and effective services to each citizens. The Government provides the following facilities to the citizens through websites.
g2b Government-To-Business is a business model that refers to government providing services or information to business organization. Government uses B2G model website to approach business organizations. Such websites support auctions, tenders and application submission functionalities.
beneficia Faster buying/selling procedure, as well as easy to find products. Buying and selling 24/7. More each to customers, there is no theoretical geographic limitations. No need of physical company set-ups. Customers can easily select products from different providers without moving physically.
meionektímata Unable to examine products physically. Not everyone is connected to the internet. There is possibility of credit card number of theft.