What is Ecommerce?
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First things first. Before we get into the nitty-gritty of the ecommerce realm,
let’s first answer one fundamental question: what
exactly is ecommerce?
- Simply put, ecommerce refers to commercial
transactions conducted online. This means that whenever you buy and sell
something using the Internet, you’re involved in ecommerce.
That story may not sound too
exciting today, but at that time, this particular transaction made history.
Why? Because it was the first time that encryption technology was used to
enable an internet purchase. Many consider that moment as the first “true” ecommerce transaction.
That’s a lot of growth (and
money!), which is why if you’re interested in doing business online, you need
to know the ins and outs of the ecommerce industry.
And that’s exactly what this
guide is for. In this resource, we take a deep look at the ecommerce industry —
how it came about, what types of merchants are out there, and what platforms
enable online selling. We’ll also shed light on notable ecommerce success
stories and flops to give you a better idea of what it takes to succeed in this
industry.
Whether you’re someone who
wants to start an ecommerce site or you’re already running an online store and
just want to learn more about the industry, you’ll find plenty of nuggets in
their guide.
Types
of ecommerce merchants
There are many ways to classify
ecommerce websites. You can categorize them according to the products or
services that they sell, the parties that they transact with, or even the
platforms on which they operate.
In this guide, we’ll look at
all three aspects to give you a clear picture of what types of ecommerce sites
are out there.
E-commerce is the activity of buying or selling of
products on online services or over the Internet. Electronic commerce draws on
technologies such as mobile commerce, electronic funds transfer, supply chain
management, Internet marketing, online transaction processing, electronic data
interchange (EDI), inventory management systems, and automated data collection
systems.
Modern electronic commerce
typically uses the World Wide Web for at least one part of the transaction's
life cycle although it may also use other technologies such as e-mail. Typical
e-commerce transactions include the purchase of online books (such as Amazon)
and music purchases (music download in the form of digital distribution such as
iTunes Store), and to a less extent, customized/personalized online liquor
store inventory services.There are three areas of e-commerce: online retailing,
electric markets, and online auctions. E-commerce is supported by electronic
business.
E-commerce businesses may
also employ some or all of the followings:
- Online shopping for retail sales direct to
consumers via Web sites and mobile apps, and conversational commerce via
live chat, chatbots, and voice assistants[3]
- Providing or participating in online
marketplaces, which process third-party business-to-consumer or
consumer-to-consumer sales
- Business-to-business buying and selling;
- Gathering and using demographic data through web
contacts and social media
- Business-to-business (B2B) electronic data
interchange
- Marketing to prospective and established
customers by e-mail or fax (for example, with newsletters)
- Engaging in pretail for launching new products
and services
- Online financial exchanges for currency exchanges
or trading purposes.
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