E-commerce
What exactly is E-commerce?
All of the business type not only need a website but also is necessary to have e online shop to can compite in the market. We can make your inventory online and your can sell your items and product even if it is digital or services to your customers.
The term electronic commerce (e-commerce) refers to a business model that allows companies and individuals to buy and sell goods and services over the Internet. E-commerce operates in four major market segments and can be conducted over computers, tablets, smartphones, and other smart devices. Nearly every imaginable product and service is available through e-commerce transactions, including books, music, plane tickets, and financial services such as stock investing and online banking. As such, it is considered a very disruptive technology.
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 ecommerce today.
- E-commerce operates in four 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 tangible products and services online. It involves more than one party along with the exchange of data or currency to process a transaction. It is part of the greater industry that is known as electronic business (ebusiness), which involves all of the processes required to run a company online.
E-commerce has helped businesses (especially those with a narrow reach like small businesses) gain access to and establish a wider market presence by providing cheaper and more efficient distribution channels for their products or services. Target (TGT) supplemented its brick-and-mortar presence with an online store that allows customers to purchase everything from clothes and coffeemakers to toothpaste and action figures right from their homes.
Providing goods and services isn’t as easy as it may seem. It requires a lot of research about the products and services you wish to sell, the market, audience, competition, as well as expected business costs.
Once that’s determined, you need to come up with a name and set up a legal structure, such as a corporation. Next, set up an e-commerce site with a payment gateway. For instance, a small business owner who runs a dress shop can set up a website promoting their clothing and other related products online and allow customers to make payments with a credit card or through a payment processing service, such as PayPal Klarna or Stripe.
E-commerce may be thought of like a digital version of mail-order catalog shopping.
Special Considerations
Ecommerce has changed the way people shop and consume products and services. More and more people are turning to their computers and smart devices to order goods, which can easily be delivered to their homes. As such, it has disrupted the retail landscape. Amazon and Alibaba have gained considerable popularity, forcing traditional retailers to make changes to the way they do business.
But that’s not all. Not to be outdone, individual sellers have increasingly engaged in e-commerce transactions via their own personal websites.
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