Have you ever bought your favorite sunglasses over the internet? Or sell your old accessories by using your smartphone or computer through the internet, if yes then you have taken part in E-commerce.
Buying or selling of goods & services or transfer data and funds through electronic media is known as E-commerce.
Short History of E-commerce
- 1960:- beginning of E-commerce, when (EDI) electronic data interchange started to share business deed.
- 1979:- American started sharing the document through the electronic network.
- 1981:- First B2B (business to business) transaction.
- 1991:- The NSF (National science foundation) allow the internet to be used for commercial purpose.
- 1994:- First retail secure transaction on the web.
- 1995:- Amazon & eBay selling the first item on the internet.
- 2005:- Started social media, people using social media in their buying opinion.
Types of E-commerce
- B2B (business to business)
An organization sells goods or services to other organization over the internet.
- B2C (business to consumer)
When a business sells service and product directly to the consumer over the internet.
- C2C (consumer to consumer)
In which the consumer sell their products to the consumer.
Benefits of E-commerce
- No time limitation
Buying or selling product or services 24*7.
No need to go to windows shopping and wait in the queues for payment.
- Low cost:-
The Customer can buy the Better quality of a product at low cost.
- Select compare and buy
E-commerce application gives you benefit to select the product, compare to others and then buy.
- Globally reach
You can sell or buy products anywhere in the world without moving around physically.
- Boost brand awareness
The e-commerce business can promote B2B companies to make a new customer. So, it will be auxiliary for E-commerce business to boost their brand awareness.