What is E-commerce? types and benefits
What is Ecommerce?
Ecommerce also known as electronic commerce or internet commerce, is purely the buying and selling of services and goods by means of the internet. It also includes the transferring of funds between two or more parties, In other words this is online shopping
All a customer needs is access to the internet and they can browse through your online store and make a purchase without the need of going to a physical store.
What are the different types of ecommerce models?
B2C – Business to Consumer
This is an online sale of a product or service from a business to an end consumer
B2B- Business to Business
When a business has an online web store and sells its products or services to other companies
C2B – Consumer to Business
A consumer provides a business with a fee based opportunity to market a product or service on their website or blog.
C2C – Consumer to Consumer
This is a business model that facilitates ecommerce between private individual’s e.g. Gumtree and OLX facilitates C2C
What are the Benefits of ecommerce?
• One of the benefits of ecommerce is that it has a low startup costs, you don’t need to pay up thousands of rand’s to rent a store location
• Online stores are always open for business, customers can buy your goods or services at any time of the day which means you can be making money while you are sleep.
• You can easily gain access to data for analysis, this can assist you in developing a relationship with your client and be able to let them know of any sales or promotions easily, this means you end up spending less on marketing
• You are not limited to a specific geographical location, which means you can have customers all over the world.
Recadi Technologies is passionate about digital transformation and can help you take your store online, request a free quote below