E-commerce arising from the term electronic commerce is a business type that involves the transaction, exchange of goods and services using money as a means of exchange depending on the respective currencies as well as I transfer data the widely fast growing network which is the internet. There are various types of e-commerce which include business-to-government e-commerce that involves the transaction of business and the government where the government either sell or buy commodities in bulk to avail to its citizens at affordable prices. Another type is business-to-business which involves e-commerce between businesses where all transactions revolve around companies and Consumer-to-consumer electronic commerce where the only parties involved are the consumers.
E-commerce plays a critical role in the success of a business by shortening the commodity distribution chain as well as reducing the amount of time required to deliver the desired products to the clients as compared to distributing the products through intermediaries. Direct contact between the producer and the consumer is therefore enhanced enabling the producer to access the target market hence meeting the needs of their customers.
In the current word of technology, electronic commerce has become the most favored way for most people to shop due to its convenience benefit in that consumers can buy at any time of the day even at midnight regardless of the place.It helps consumers save time and money by directly searching for what they prefer from their browsers instead of traveling from place to place in search of the desired commodities which can be tiresome and hectic.
electronic commerce is efficient in that it requires fewer permits and licenses to start a business as compared to traditional business where one has to acquire a license as well as to choose a proper position in order for his/hers business to thrive well.
E-commerce leads to an increase in the number of customers due to its clarity on the terms of payment which therefore by default without much advertising invites both genuine customers as well as the impulse customers who buy without having a prior plan to purchase hence immensely increasing sales. Due to the ability of online payment system accepting different modes of payment makes it much easier for business to get consumers from several continents that use different currencies.
There are many various types of e-commerce business. Many range from automotive shops to jewelry businesses. Take a look at social media for many different kinds of examples. A great ECommerce business to model is Jenny Present Jewelry. Just like this business, there are many more to view for ideas.