Ecommerce is short for electronic commerce and refers to online shopping and selling of goods or services using the internet. And can also relate to the transfer of money to execute these transactions normally through a payment gateway. Ecommerce is widely considered as the sale or purchase of goods or services between businesses, individuals or organisations. conducted over the internet. This can be conducted on private ecommerce websites or market place platforms such as Amazon or Ebay.
The e-commerce market place encompasses various types of business transactions, the most common being B2B, B2C, C2C and C2B. Here’s a brief overview –
Types of ecommerce
- B2B (Business-to-Business): This involves companies doing business with each other, like manufacturers selling to distributors and wholesalers selling to retailers.
- B2C (Business-to-Consumer): The most common form of e-commerce, B2C transactions happen when businesses sell products or services to consumers, like online retail.
- C2C (Consumer-to-Consumer): This type of e-commerce is facilitated by third-party platforms (like eBay or Craigslist) that allow individuals to buy and sell to each other.
- C2B (Consumer-to-Business): In this type of e-commerce, consumers offer products or services to businesses. This can include freelance work, crowdsourcing, or influencer marketing.
The e-commerce space has expanded rapidly over the past few years and continues to evolve with new technologies, including mobile shopping and online payments. It offers the convenience of shopping and transactions from anywhere with an internet connection, often with a wider selection and competitive pricing.
B2C is a good route to entrepreneurship and financial freedom when starting out in business – research and pick your niche! Enjoy exploring new products to stock that your customers will love to buy.
Further reading on ecommerce can be found on the Shopify blog
If you’re are at an early stage in deciding whether ecommerce is a business you would like to move into then please reach out for a no obligation chat – contact us