Ecommerce. Meaning. History. Common types.
Haven’t heard the term Ecommerce before? Some questions that come to mind that what is Ecommerce itself, what is the history of Ecommerce, what are the main types of it? Then this article is for you! In the following article, we will strive to provide relevant information that you really interested in getting to know.
Ecommerce, the full version is electronic commerce, indicates any type of currency and data for goods or services conducted online or via electronic means.
The term “e-commerce” itself appeared almost immediately after the advent of computers in the 50s and 60s. This was the era of “Mainframe-based” applications. One of the first programs was this transport - a program for ordering tickets, as well as the exchange of information between different services for the preparation of flights.
According to Commerce-land, the term Ecommerce meant the process of execution of commercial transactions electronically with the help of the leading technologies such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) which gave an opportunity for users to exchange business information and do electronic transactions. The ability to use these technologies appeared in the late 1970s and allowed business companies and organizations to send commercial documentation electronically. The history of Ecommerce dates back to the invention of the very old notion of "sell and buy", electricity, cables, computers, modems, and the Internet. Ecommerce became possible in 1991 when the Internet was opened to commercial use. Since that date, thousands of businesses have taken up residence at web sites.
There are some spelling types of Ecommerce that are all synonymous and correct and largely preference-based.
- e commerce
As a matter of fact, in the last decade, the widespread use of e-commerce platforms such as Amazon and eBay has contributed to substantial growth in online retail. In 2007, e-commerce accounted for 5.1% of total retail sales; in 2019, e-commerce made up 16.0%.
Actually, E-commerce includes the following classifications:
Let’s take a look at some common types of Ecommerce in detail.
B2B is one of the most prevalent types of e-commerce that transactions of goods or services take place between two businesses. There are many types of B2B Ecommerce brands, for example, Atlanta Light Bulbs, Berlin Packaging ResMed, NutreeVit, BulkBookstore, CleanAir, and so on. By the most recent reports, analysts have forecasted that global B2B Ecommerce revenue for 2019 will, after all the numbers are in, top $12.2 trillion.
Here the company will sell its goods, services directly to the consumer. Consumers can browse their websites and look at products, pictures, read reviews.B2C is the deepest market in Ecommerce business that occurs when a business sells a good or service to a consumer. Such as eBay or Craigslist, Newegg.com, Overstock.com, and ModCloth.com online retailers
C2C e-commerce involves transactions between two consumers, neither of whom is legally an entrepreneur. Here people put up their personal goods and assets directly for sale. As the world’s largest online retailer Amazon operates as both a B2C and a C2C market and OLX, Quikr follow this model as well.
C2B businesses allow individuals to sell their goods and services to companies. Bloggers, freelancers, and photographers can be good examples of C2B e-commerce. Or taking an IT freelancer as an example who demonstrates and sells his software to a company by Upwork platform.
It is a communication between government agencies and citizens, in which public services are used quickly and easily online. It includes electronic commerce activities, such as paying taxes, land, and vehicle registration, providing information to the public among others, performed between the government and its citizens or consumers.
It is the interaction between government and business that allows you to speed up the negotiation process, eliminate the need to use paper documents, and thus enhance the process of collecting and processing the necessary information.
In short, E-commerce helps to deal with business activities such as producers can reach to markets through online platform. It saves time, money, and efforts as producers do not further require retail shops or inventory storage.