Ultimate guide on e-commerce

 

Custom e-commerce website development, known as e-commerce, is all about selling and buying goods and services. But this is not just an ordinary type of buying and selling where one visits the market and does that later on; it is all happening online, with no physical store or market.

It has many other features that fall in the same category of buying and selling goods or services, such as banking, auctions, ticketing, and so much more.

Keynotes

1.        The use of e-commerce is only dependent on the internet. It is about buying and selling goods and services using smartphones, computers, laptops, or tablets. It would help if you had a stable and continuous internet connection. The faster the internet connection will be, the more reliable and responsive the matters will be.

2.        It ( e-commerce ) has different type of businesses in it which includes B2B ( business-to-business), B2C ( business-to-consumer ), C2C ( consumer-to-consumer ) and C2B ( consumer-to-business ).

3.        It is packed with many regulated e-commerce activities such as SSC ( security standards council ), FTC ( federal trade commission ), and PCI ( payment card industry ).

Types of Businesses

It has the following business types to its name

l   Business-to-business ( B2B )

The business buys bulk from other companies at lower prices to sell it with its profit margin. It also includes purchasing raw materials and other helpful company parts.

l   Business-to-consumer ( B2C )

It is the most common kind of business and also for e-commerce. Shopping from online stores is a perfect example of this.

l   Consumer-to-consumer ( C2C )

When a consumer sells something to the other consumer. Just like in eBay or Craig's list.

l   Consumer-to-business ( C2B )

When the consumer sells his goods or services to the business.

Examples

We already covered the types of businesses of e-commerce, but the real terms don't look at or explain these. Here are a few examples that will give you a perfect picture:

l   Retail ( sold directly to the customer ).

l   Wholesale ( when a business buys goods from other companies in bulk at a lower price ).

l   Physical products ( machines, automobiles, smartphones, and more ).

l   Digital products ( books, courses, templates, themes, and more ).

l   Drop shipping ( shipping to the other company ).

l   Subscription ( membership in weekly, monthly, yearly, or lifetime ).

l   Services ( paid when services are provided, transportation, and course completion time).

l   Crow funding ( money taken in advance to make the product available ).

Advantages of e-commerce

The advantages of wordpress website development companies or e-commerce to be called are as under:

l   Companies can interact with a vast audience.

l   Companies now have a low cost of operational terms.

l   Shopping from home has made life easier for customers.

l   Customers can make comparisons between online and shops.

l   Wide ranges of products.

Disadvantages

Its disadvantages are:

l   No interaction with a physical person, such as a sales clerk, makes is lesser personalized service experience.

l   Shipping charges.

l   Waiting time for the arrival of an ordered product.

l   You can't physically inspect the product when buying.

l   Issues of returning the product.

l   Security issues.

l   Fraud.