What is e-commerce?

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We will know What is e-commerce?

What is e-commerce?

E-commerce or electronic commerce refers to selling and buying something electronically by using the internet. So, it is also known as ‘Internet shopping’ or ‘internet commerce. The buying or selling of products through the internet with the help of software, documents, graphics, etc.

It is a part of e-business that is done through online marketing. Consumers place orders for product and services and sell them through the internet. Similarly, it also consists of the exchange of data to facilitate the financing and payment aspects of business transactions.

Types

Following are the three types of electronic commerce:

i. Business to Consumer (B2C): This type of electronic commerce involves retailing products and services directly to individual shoppers. For example, Barnes&noble.com, sells books, software, and music to individual consumers.

ii. Business to Business (B2B): This type of electronic commerce involves the selling of goods and services among businesses. The web auction site is used for selling cutting tools, grinding wheels, and metalworking fluids to more than 100,000 small machining businesses.

iii. Consumer to Consumer (C2C): This type of electronic commerce involves consumers selling directly to consumers. For example, eBay, hamrobazar , etc allows people to sell their goods to other consumers by auctioning the merchandise off to the highest bidder.

Hence, these are the types of electronic commerce.

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