What does ecommerce mean to you




















Learn everything there is to know about running a business. Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.

Whereas e-business refers to all aspects of operating an online business, ecommerce refers specifically to the transaction of goods and services. The history of ecommerce begins with the first ever online sale: on the August 11, a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform.

Since then, ecommerce has evolved to make products easier to discover and purchase through online retailers and marketplaces. Independent freelancers, small businesses, and large corporations have all benefited from ecommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail. There are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and businesses.

Business to Consumer B2C : When a business sells a good or service to an individual consumer e. You buy a pair of shoes from an online retailer. Business to Business B2B : When a business sells a good or service to another business e. A business sells software-as-a-service for other businesses to use 3. Consumer to Consumer C2C : When a consumer sells a good or service to another consumer e.

You sell your old furniture on eBay to another consumer. Consumer to Business C2B : When a consumer sells their own products or services to a business or organization e. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use. Creating value can take many forms. For instance, C2B can be as simple as a customer leaving a positive review for a business or a stock photography website purchasing images from freelancers.

In addition, businesses that sell secondhand products sometimes purchase merchandise from private citizens online. These are sometimes called business-to-administration B2A sales. They happen when a private firm exchanges goods or services with a public agency.

Usually a business contracts with a public organization to carry out a mandated service. For instance, a custodial firm might bid online for a contract to clean the county courthouse, or an IT firm might reply to a proposal to manage a city's computer hardware. Ever paid a parking ticket online? Then you've experienced C2G. This model also includes paying taxes online and purchasing goods from a government agency's e-auction.

Any time you turn money over to a public agency using the internet, you engage in C2G e-commerce. Do you have a great idea for an e-commerce enterprise? Whether you want to get into online wholesale, subscriptions, crowdfunding, digital products, or software as a service, there's a spot to open an e-commerce company in the e-commerce marketplace.

From choosing a business name , integrating a payment system with a reliable online payment solution, to a supply chain management solution and a customer experience platform for your website, there are many aspects to take into consideration when starting an online store read our tips for how to start an online store for more.

Here are some tips to start an e-commerce business while providing a great customer experience to set yourself for up success and e-commerce growth:. There are 2 major parts to research: studying your competitors and studying your target customers.

Find out what products other online stores offer, what social media channels they use, what their business models are, and so on. This research can help you do everything from selecting a memorable name to determining what products or services to sell.

As for studying your audience, reach out to people in your personal network. If your budget allows for it, you can also conduct surveys and focus groups to identify any e-commerce gaps you can fill.

You'll have a lot to do and learn in your first few months, which will eat up a lot of your time. Your system, your ads, your products, your emails —everything. You may even want to consider hiring an e-commerce testing firm to set up tests for you. Once those are established, you can conduct your evaluations, study the results, make any necessary changes, and repeat.

Dropshipping : The sale of products that are manufactured and shipped to consumers via a third party. Digital products: Downloadable items like templates, courses, e-books, software, or media that must be purchased for use. Wholesale: Products sold in bulk. Wholesale products are usually sold to a retailer, who then sells the products to consumers.

Services: These are skills like coaching, writing, influencer marketing, etc. Subscription: A popular D2C model , subscription services are the recurring purchases of products or services on a regular basis. Crowdfunding: Crowdfunding allows sellers to raise startup capital in order to bring their product to the market. Killing it: Successful e-comm sites E-commerce accounts for trillions of dollars in sales every year. Their online profits have surpassed all US retailers — including Walmart and Amazon — combined since Amazon: Amazon is the largest e-commerce retailer in the United States, and has changed the face of retail so much that a burning question for most retailers is how to beat Amazon.

Walmart: Once the top retailer in the US, Walmart has focused mightily upon their online business, with great results, offering traditional retail sales, as well as grocery delivery and subscription services. Wayfair: This home furnishing e-tailer is a drop-shipper, carrying hardly any inventory. They manage suppliers, orders, and fulfillment, and credit their success on personalization — meaning they study how their customers engage and offer up products they believe consumers most want.

Personalization and customer experience: E-commerce marketplaces can create rich user profiles that allow them to personalize the products offered and make suggestions for other products that they might find interesting. This improves the customer experience by making shoppers feel understood on a personal level, increasing the odds of brand loyalty. Global marketplace: Customers from around the world can easily shop e-commerce sites — companies are no longer restricted by geography or physical barriers.

Minimized expenses: Since brick and mortar is no longer required, digital sellers can launch online stores with minimal startup and operating costs. Hear the best in the biz talk how to deliver.



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