E- commerce is the buying and selling activity of products or services via online or over the internet. Online business provides the opportunity which buyers and sellers can communicate through the internet. The internet also helps in processing all the electronic transactions. So, you have to think about what type of business transaction you are going for. Who are your potential consumers? What is your business type? What are the most common ways online transactions occur?
Types of Ecommerce business
Business To Business Ecommerce (B2B)
FOCUS ON: Provide products from one business to another
– A group / department (rather than an individual) uses the product and services.
– B2B industries: Technology, Manufacturing, Construction, Insurance and etc.
– Benefits: Large average deal size (Sales can grow in a smaller number of high- value deals)
Business To Consumer Ecommerce (B2C)
FOCUS ON: Provide products that seeks to reach companies
– Sells to individuals online (rather than physical store)
– Quantities offline
– Benefits: Timeframe for a B2C purchase shorter than B2B
Types of revenue model in Ecommerce business
Drop shipping
– Easiest way of ecommerce
– Customer pay through credit cards or PayPal
Warehousing and Wholesaling
– Require huge investment at the beginning
– Manage inventory, track customer orders, shipping info and invest warehouse space
E- commerce format such as online shopping will be no intermediary but interaction between the provider of the store and the online buyer. Electronic financial transactions conduct securely here. Besides, e- commerce can occur anytime (24 hours), thus, it is really convenient.
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