As far back as the 1990s, the world was exposed to a new way of doing business, one that involved the internet. Today, we have a fully-fledged e-commerce system worth over $4. trillion. Here’s all there is to know about it:
What Is An E-commerce Store?
An e-commerce store is a business that offers its products or services over the internet.
The model by which they operate is what we call electronic commerce, e-commerce, or internet commerce.
Transfer of goods and services over the internet while exchanging the funds and data necessary to do so all fall here. Perhaps the most popular example today is Amazon.
Just so you know:
E-commerce varies in its mode of operation, referred to as Business Models.
Have a look:
E-commerce Business Models
A B2C model features the most traditional way of doing business. Here, a business offers its goods or services to individual consumers. Amazon is largely like that for instance.
A B2B model is also as old as commerce itself. A business similarly offers its products on the internet, but its target clients are other businesses.
Here, individual consumers offer their goods or services to businesses and get paid in return. Social media influencers of this age fall here.
This model sees an individual consumer exchange goods with another individual consumer for funds. eBay is a great example of a platform that facilitates this.
In some cases:
The other party in a business model is not a business but rather, the government, thus creating these;
- Government to Consumer model
- Consumer to Government model
They operate in much the same way as the earlier models.
What Is An E-commerce Website?
An e-commerce website is typically the online storefront of an e-commerce store and may follow any business model, offering:
- Physical Goods And Products
- Professional Services
- Digital Products
The list is endless.
- In Conclusion
E-commerce is a fast-growing, profitable business sector and one that you’d do well to get in on right away.