Electronic commerce abbreviated as e-commerce is the conduct of industry, trade, and commerce using computer networks.
In simple words, e-commerce is buying and selling of goods or services over the internet.
There are mostly five types of e-commerce, namely
- Business to consumer
- Business to business
- Direct to consumer
- Consumer to consumer
- Consumer to business
Some of the top e-commerce companies are Alibaba, Amazon, Walmart, etc.
- E-business helps business organizations to advertise products at a lower cost.
- Due to better advertisement, e-commerce enables a better customer-to-cost ratio.
- E-commerce provides a low-cost international entry to business organizations.
- The total overhead cost required to run an e-business is comparably much cheaper than a traditional business.
- E-commerce provides a larger market to both business organizations as well as customers.
- E-commerce makes the sale and purchase of goods and services easy and faster.
- E-commerce reduces the paperwork.
- E-commerce provides a 24×7 service to the customers.
- E-commerce enables the availability of products at a lower cost hence allowing less affluent people to afford them.
- E-commerce simplifies the business processes hence making it easier and faster.
The Internet has proven to be a boon for humans, and e-commerce is another big example of it. E-commerce has made the life of sellers as well as the customers easy because of its faster and flexible operations. Moreover, its accessibility to all classes of customers and remote areas has made it more popular among