History Of Eccommerce: In the year 1994, At first Phil Brandenberger of Philadelphia who first created Ecommerce history by his 12.48$ purchase sting CD from the Net Market Company in New Hampshire. Purchase purpose he sent encryption code. Another purchase was Large pizza from pizza hut. In this twentieth-century, This story is not too much excitement for us but that's the first starting story of Ecommece Business. After that Jeff Bezos began selling the book online, Now his company is very familiar to us that is Amazon which worth almost 150$ billion.
What is Ecommerce?
Ecommerce is a short term of Electronic commerce. Any types of business or commercial transactions when you do through the Internet that's we can be called E-commerce. Nowadays E-commerce elaborates too fast in the global market. As an example: When An Ecommerce website (Like Amazon,eBay, Daraz) upload product on the website & we purchase them through the internet that's called eCommerce.There are other activities types like online ticketing, internet banking, payment gateways, etc. Almost 4.36 trillion online sales in 2019-2020 seasons.Its great news that 40% of sales increased more than in previous years.
Models of Ecommerce Business
B2B (Business to Business): When Your business sells goods & services that are called B2B. Production purpose needs raw materials than when you purchase raw materials from other business companies that are also called B2B business. As Example: If You Sell cake then cake produces purpose you will need Sugar when you collect these types of raw materials this called B2B.
There are two types Model of B2B :
1. Vertical B2B
In short, Customers buy in bulk amount & Companies provide a large number of discounts this process is B2B.
B2C (Business to Consumer): B2C Model is where merchants sell to consumers who buy a small number of products. That means where a consumer buys a small number of products like super shop shopping, here customers basically buy a low amount of products.B2C companies referred to is that sells directly to consumers. As an example, Gym memberships, Car sales, Real estate is kinds of B2C Model. Which companies sell products or services directly to a customer online. In E-commerce Website Prospective customers can view products on the page, can choose products and order them. Business to Consumer model doesn’t require a middleman and reduces the cost of the goods for the ultimate consumers. B2C sites create easy to buy for customers to buy products end enjoy this process.
C2C (Consumer To Consumer): Vendors sell their products on eCommerce websites and buyers purchase products by choosing items. These types of websites provide benefits from commission fees for goods that are normally paid for by the seller. eBay, Craigslist, Amazon is a great example of the C2C website.
Advantages of eCommerce Websites
The Internet creates great changed in our daily life, All things are going to be easier. Like we can get education, services, foods, shopping from home. There are a lot of E-commerce websites created for e-commerce transactions. It's very helpful to buyers & Sellers.
Faster Buy & Sell Procedure: We can buy & sell our products easy way. We can buy sell and pay any time, so its a great procedure for customers. Unrestricted by the working hours
Reach Global Market: It's the easiest way to reach your customers globally. A Physical store can serve limited geographical areas. The whole world is the market for any other type of eCommerce sites.
Cost of E-commerce Business: You don't need enough money to start your e-commerce business. E-commerce business could be low-costing & manage operational services at reasonable prices.
Physical company: You don't need to set up a physical company. Customers can easily choose products from different sellers without visit physically to your store. Basically it's the great benefit for e-commerce sellers & buyers.
Target Marketing: You can promote your products to your target oriented people. You can monitor your actual customers. Also, customers visit interested oriented Websites, Facebook pages or Social Online store platforms.
Besides these advantages, Seller & customers can easily connect with each other. There are many ways to sell your products through online stores in the global market.
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