This is the process by which products are bought or sold through online process or over the internet. Products can be bought or sold through mobile applications or through various websites accessed by internet connectivity on mobile phones or computers using browsers.
This is the process by which products are bought or sold through online process or over the internet. Products can be bought or sold through mobile applications or through various websites accessed by internet connectivity on mobile phones or computers using browsers. E-commerce enables a buyer and seller of a product or commodity to get the product or sell it from anywhere around the globe.
With the rapid growth of technology, e-commerce activities have become popular and are being performed in large quantities on daily basis. E-commerce sites have also increased in number and hence the industry has become known by many individuals all over the world.
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E-commerce can be classified into the following types or models.
- Business to consumer. (B2C).
This is the process by which a business deals in selling of products or commodities to a consumer through the internet. An example is an individual buying a mobile phone from a certain online retailer.
- Business to Business (B2B).
Businesses conduct transactions in commodities or products among themselves through the internet. Businesses are involved in these type of e-commerce without involvement of consumer.
- Consumer to Consumer (C2C).
In this type of e-commerce, consumers decide to engage in selling of commodities to other consumers who become the buyers through the internet. C2C e-commerce involves a third party who provides an online platform to the consumers to engage in the activity.
- Consumer to Business ( C2B).
This provides a platform where consumers render their services to an organization or a business. The consumers mostly deal with the design of a certain product or do a project such as design of a website, an android application, logo design and then sell it to a certain organization or business. There are also online sites such as fiverr and upwork where consumers render their services which are a wide variety and of different specialization to businesses and organizations.
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Advantages of e-commerce.
- E-commerce has enabled fast and easy finding of products that consumers need.
- Consumers are able to get products that they require at any time since the online sites that deal in the products operate at all time.
- Customers are able to get products from any part of the world.
- Organizations that use e-commerce are able to expand the market for their product both nationally and internationally.
- E-commerce has helped many organizations and business to reduce cost while producing a product.
- Enhances customer support.
Customers are able to obtain help concerning the products at any time since e-commerce functions at all time.
- Due to the increase in the level of competition among the e-commerce sites, the sites provide discounts in various products as a way of attracting more customers.
- Customers are able to know all about the product they are intending to buy before they can complete the purchasing process since most products have a list of the properties it entails online.
- Individuals living in rural areas have now been able to access products that are not available in their locality through e-commerce.
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