What is the Definition of Ecommerce, Advantages, Types & Example
In this article lets see in detail What is the Definition of Ecommerce, its Advantages, Business Models for Ecommerce, Example of Ecommerce & India’s Top Ecommerce Companies.
What is Ecommerce?
- Electronic commerce, commonly known as E-commerce is trading in products or services using computer networks, such as the Internet.
- Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
- Modern electronic commerce typically uses the World Wide Web for at least one part of the transaction’s life cycle, although it may also use other technologies such as e-mail.
What is Ecommerce Definition
Sharing business information, maintaining business relationships and conducting business transactions using computers connected to telecommunication network is called Ecommerce.
What is e commerce business
Ecommerce refers to the following activities in Business
- Increasing the speed of service delivery.
- Use of computer networks to search and retrieve information in support of human and
- Corporate decision making.
- Buying and selling of information, products and services via computer network.
- Faster customer response and improve services quality.
- Advertising on the internet.
- Payment system for ecommerce – Online electronic commerce payments i.e., electronic funds transfer.
Ecommerce Benefits
The following are the Ecommerce benefits.
Ubiquity
Internet/Web technology is the marketplace is extended beyond traditional available everywhere: at work, at home, and boundaries and is removed from a temporal and elsewhere via mobile devices, anytime. geographic location. Marketspace is created; shopping can take place anywhere. Customer convenience is enhanced, and shopping costs are reduced.
Global reach
The technology reaches Commerce is enabled across cultural and also across national boundaries, around the earth. national boundaries seamlessly and without modification. Marketspace includes potentially billions of consumers and millions of businesses worldwide.
Universal standards
There is one set of There is one set of technical media standards technology standards, namely Internet across the globe.
Richness
Video, audio, and text messages Video, audio, and also text marketing messages are possible. integrated into a single marketing message and consuming experience.
Interactivity
The technology works Consumers are engaged in a dialog that through interaction with the user. dynamically adjusts the experience to the individual, and also makes the consumer a coparticipant in the process of delivering goods to the market.
Information density
The technology Information processing, storage, and reduces information costs and raises quality. communication costs drop dramatically, while currency, accuracy, and timeliness improve greatly. Information becomes plentiful, cheap, and accurate.
Personalization/Customization
The Personalization of marketing messages and technology allows personalized messages to customization of products and services are be delivered to individuals as well as groups. based on individual characteristics.
Advantage of Ecommerce
The following are some Advantages of E-commerce:
- Buying/selling a variety of goods and services from one’s home or business
- Anywhere, anytime transaction
- Can look for lowest cost for specific goods or service
- Businesses can reach out to worldwide clients – can establish business partnerships
- Order processing cost reduced
- Electronic funds transfer faster
- Supply chain management is simpler, faster, and also cheaper using ecommerce
- Can order from several vendors and also monitor supplies.
- Production schedule and also inventory of an organization can be inspected by cooperating supplier who can in-turn schedule their work
Business Models for Ecommerce
There are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and also businesses.
Types of Ecommerce Models:
Depending on the goods, services, and also organization of an ecommerce company, the business can opt to operate several different ways. The following are the Types of Ecommerce
Business-to-Consumer (B2C)
In a Business-to-Consumer E-commerce environment, companies sell their online goods to consumers who are the end users of their products or services. Usually, B2C E-commerce web shops have an open access for any visitor, meaning that there is no need for a person to login in order to make any product related inquiry.
Business-to-Business (B2B)
In a Business-to-Business E-commerce environment, companies sell their online goods to other companies without being engaged in sales to consumers. In most B2B E-commerce environments entering the web shop will require a log in. B2B web shop usually contains customer-specific pricing, customer-specific assortments and also customer-specific discounts.
Consumer-to-Business (C2B)
In a Consumer-to-Business E-commerce environment, consumers usually post their products or services online on which companies can post their bids. A consumer reviews the bids and also selects the company that meets his price expectations.
Consumer-to-Consumer (C2C)
In a Consumer-to-Consumer E-commerce environment consumers sell their online goods to other consumers. A well-known example is eBay
Example of Ecommerce
Globally E-Commerce is applied in the following fields.
- E Marketing
- E-Advertising
- E-Banking
- Mobile Commerce
- E-Learning
- E-Shopping
- Online training
- Search Engines
- Entertainment
Now we will be having an idea of What is the Definition of Ecommerce, various types, its advantages & examples. Now lets see some Top 10 Ecommerce Companies in India 2022.
Top E commerce Companies in India
There are more than 19,000+ Ecommerce companies in India Here is a list of popular websites offering Online shopping in India.
Top 10 Ecommerce Companies in India 2022
The Following are the India’s Top Ecommerce companies
- Amazon Ecommerce Company
- Flipkart Ecommerce Service Provider
- Myntra Ecommerce Platform
- IndiaMART Ecommerce Website
- Shopclues Ecommerce Company
- Snapdeal Ecommerce Service Provider
- FirstCry Ecommerce Platform
- Nykaa Ecommerce Company
- BookMyShow Ecommerce Website
- EBay Indian ECommerce Company
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