Electronic commerce refers to a business model in which sales transactions are carried out over the Internet. Virtually all online shopping sites, large or small, follow this structure. Any website that allows you to purchase products for sale over the Internet is considered an e-commerce site. An e-commerce site is defined as a site that allows you to buy and sell goods, digital products, or services online. In the beginning, electronic commerce was carried out in part by email and by telephone.
Trade, be it bartering or the sale of goods and services, has prevailed for centuries. The result is a demand and a supply of goods and services. For centuries, transactions have taken place around the world, locally and in different places. Now think electronically with the same concept in mind.
Types of e-commerce sites:
Different eCommerce sites are tagged differently based on their function.
Business-to-Business (B2B): the electronic movement of goods and services between companies. Example: A company sells SAAS products to other companies.
Business-to-Consumer (B2C): digital interactions of goods and services between companies and consumers. Example: you buy a new t-shirt at an online store.
Consumer to consumer (C2C): electronic transactions of goods and services between consumers, generally by third parties. Example: selling your old smartphone to another consumer on eBay or OLX.
Consumer-to-Business (C2B): electronic transactions of goods and services in which people offer products or services to companies. Example: A social media influencer offers an online audience for a fee.
The journey of an e-commerce business begins with creating an e-commerce website. This is usually done with extensions like WooCommerce. The products then appear with the necessary details, such as product descriptions and price tags. In addition to products, customers receive a call-to-action button, for example, “Buy now.” If you want to buy a product, just click the button and pay the money.
Customers are usually asked to place an order by completing a form. Here you must enter all the required information, such as the delivery address. Different payment methods are used in e-commerce. Customers can pay through a payment gateway (like PayPal) or use their credit card. There is another option, cash on delivery. This is what older buyers prefer the most. With this option, the buyer pays when the ordered goods are delivered to his address. Payment can be made in cash or by card, or through other convenient options like Google Pay.