E-commerce is a method used to sell and buy products or services online using electronic systems such as internet, computers, and online shopping carts and secure payment gateways. It serves as a link between the vendor and the buyer. Know more about best b2b ecommerce platform online.
There are two types of e-commerce systems, Business to Business (B2B) and Business to Consumer (B2C).
B2B is businesses buying, selling or exchanging products or services from each other as opposed to business and consumers. Supply chain management for a vendor, vertical industry portals and brokering websites are examples of B2B websites.
B2C takes place between businesses and consumers where consumers are individuals.
E-commerce gained popularity amongst businesses and consumers because of maximum convenience.
Advantages of E-commerce:
For businesses, E-commerce is a way to cut operating costs and expand their market reach. Businesses don't have to market their products or build physical stores to attract buyers from all over the world. Automated order and billing systems cut labor costs.
Businesses can store preferences of the consumer and suggest other products which help the consumer's shopping experience and mean more return for the business.
For consumers it means saving time and having more flexibility and freedom to choose products. They don't have to fight crowds of shoppers, look for parking space and they can easily compare specifications and prices from different vendors and make their choice with more ease; all from the comfort of their home.