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E-commerce is an Electronic commerce. E-commerce is used through via internet. It is used for any type of business that involves transfer of information across the internet.

E-commerce is usually associated with buying and selling over the Internet. E-commerce allows consumers to electronically exchange goods and services with without any problems of time or distance. E-commerce is the use of electronic communications and digital information processing technology in business transactions to create, transform, and remake  relationships for value creation between or among organizations and between organizations and individuals.

Electronic commerce use for different kinds of technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), Email and automated data collection systems. 

Types of Ecommerce:

          1.     Business-to-Business(B2B):

In Business-to-Business (B2B), A type of commerce transaction that exists between businesses such as those involving a  wholesaler and a retailer. Business to business refers to business that is conducted between companies rather than between a company and individual consumers.

2.     Business-to-Customer(B2C):

In Business-to-Customer, It is an Internet and electronic commerce (e-commerce) model that denotes a financial transaction or online sale between a business and consumer. B2C involves a service or product exchange from a business to a consumer.

3.     Customer-to-Business(C2B):

Consumer-to-business (C2B) is a business model where an end user or consumer makes a product or service that an organization uses to complete a business process. The C2B methodology completely transposes the traditional business-to-consumer (B2C) model, where a business produces services and products for consumer consumption.

           4.     Customer-to-Customer(C2C):

Customer-to-Customer or consumer-to-consumer is a business model that facilitates the transaction of products or services between customers.

Applications:

·         Group buying

·         Electronic tickets

·         Domestic and international payment systems

·         Automated online assistant

·         Newsgroups

·         Online shopping and order tracking

·         Online banking

·         Shopping cart software

·         Teleconferencing

·         Print on demand

·         Online office suites

·         Social networking

·         Instant messaging

·         Digital Wallet

Advantages of E-commerce:

         1 .  Increased Customer Satisfaction:

Because of using E-Commerce are the reduced costs associated with it and the broader customer base.

         2.  Easy to handle:

Because E-Commerce transactions are done through a website and not from any store. Due to which the associated retail store is automatically reduced.

         3.  Can access Anywhere and Anytime:

We can purchase products from anywhere and anytime. Anyone can access product from anywhere such as from home, from office and so on.  

           4.   Time  Consuming:

There is no need to purchase product from outside from the home such as Big Bazar, Relience, DMart etc. Time saving is most important advantages in E-commerce because so many traffic in current days so the time westing.

5.     Cost Effective

The whole financial transactions will become electronically, so conversion is going to be lower on cost. It makes every transaction through e-commerce payment a lot of cheaper.

6.     Better Productivity

Productivity here means productivity for both companies and customers who are buying and selling products. People like to find answers online because it is faster and cheaper to cost as well for the company.

7.     Economy Benefit

E-commerce allows us to make transaction without any needs on stores, infrastructure investment and other common things we find. Companies only need well built website and customer service.

Today’s Importance of Ecommerce:

      In the Business markets, time plays an important role to both the business and consumers. From the business perspective, each transaction gives less time, more than one transaction can be done on the same day. For the consumer, they will save up more time during their transaction. Due to this, Ecommerce steps and replaced the traditional commerce method where a single transaction can cost both parties a lot of valuable time.

 Today’s everyone is most busy in their life so With just a few clicks in minutes, a transaction or an order can be placed and completed via the internet easily. Banking transaction can be completed through the Internet within a few minutes compared to the traditional banking method which may take up to hours.

           

            From the business viewpoint, Ecommerce is much more cost effective compared to traditional commerce method. This is due to the fact where through Ecommerce, the cost for the middleperson to sell their products can be saved and diverted to another aspect of their business. One example is the Amway, distributor takes lot of time and money for diverted this product. So, Ecommerce do not take any third party for transaction.

For Ecommerce, the total overheads needed to run the business issignificantly much less compared to the traditional commerce method. The reason due to that is where most of the cost can be reduced in Ecommerce. The most important to that, most of the cost for staff, maintenance, communications and office rental can be substitute by a single cost is called as web hosting for the Ecommerce business.