E-commerce Website-
E-Commerce websites are online portals that facilitate online transactions of goods and services through means of the transfer of information and funds over the Internet. In the early days, e-commerce was done partially through emails and phone calls. Now, with a single website, anything and everything that a transaction needs, can be executed online.
An e-commerce website is a website that allows you to buy and sell tangible goods, digital products or services online. Trade, be it barter exchange or buying and selling of goods and services has been prevalent for centuries. No one can be self-sufficient. And this brings out the need for demand and supply of goods and services. Transactions have been going on all over the world for centuries, locally, and across locations. Keeping the same concept in mind, now think electronic. However, also bear in mind that with the whole world going online, data privacy laws have become increasingly stringent. And before you begin, an eCommerce venture you should be aware of all the legal policies required for your eCommerce website.
Types of E-Commerce websites
Different eCommerce websites are labeled or referred to differently, based on the function they fulfill.
- Business-to-Business (B2B): Electronic transactions of goods and services between companies. Example: A business sells SAS products to other businesses.
- Business-to-Consumer (B2C): Electronic transactions of goods and services between companies and consumers. Example: You buy a new t-shirt from an online store.
- Consumer-to-Consumer (C2C): Electronic transactions of goods and services between consumers, mostly through a third party. Example: You sell your old smartphone on eBay or Olx to another consumer.
- Consumer-to-Business (C2B): Electronic transactions of goods and services where individuals offer products or services to companies. Example: A Social media influencer offers exposure to their online audience in exchange for a fee.