Table of Contents
The activity that involves buying and selling goods and services, money transfers, and analyzing other companies’ data through the Internet is known as e-commerce.
Types of E-commerce
Business to customers: In this type of business, customers can directly deal with the manufacturers or the companies where sales and purchases occur. There are no mediators between them.
Business to business: In this business, companies interact with each other directly with one another. They are the wholesale retailers and manufacturers of themselves.
Direct to customers: Here, customers can directly deal with the customers. There should not be any mediator like a distributor, retailer, or wholesaler. These companies now send the products to their end customers.
Physical goods: This type includes financial value for purchasing tangible and intangible goods and services.
Digital goods: It involves the exchange of money value for intangible goods like books, video files, etc.
A Large Market: E-commerce allows every firm or customer to reach each other worldwide. They provide a platform for every individual to explore their business in the market.
Low cost: By holding the hands of e-commerce, it has become more accessible to firms and companies that can run their business with a low budget.
Personalized messaging: They provide a facility for the firms to communicate directly.
Product and Price Comparison:
This is the most common factor of e-commerce: prices. This may cause loss due to comparing the same products on different apps. This may affect the profit line.
Need to access to the Internet:
Every business entity related to e-commerce should be available online continuously. If they are offline, this may cause a loss to their business.
Credit card Fraud:
This is a natural problem online businesses face, which may lead to bad reputations, losses, and penalties.
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