- Known as Electronic Marketing.
- It consist of buying and selling goods and services over an electronic systems, such as the internet and other computer networks.
- Ecommerce is the purchasing, selling and exchanging goods and services over computer networks (internet) through which transaction or terms of sale are performed Electronically.
Why Ecommerce
- Available at Cost.
- Make less Transaction Costs.
- Available to the global market.
- Secure market share.
Types of Ecommerce :
Business-to-Business (B2B)
B2B stands for Business to Business. It
consists of largest form of Ecommerce. Digital Marketing is the new 'Mantra' of
business companies to reach the large customer base now-a-days. The business
transactions and trade around the globe getting more technology-driven day
by day so it is essential for all businesses or companies to meet the speed if they want to
stay in the market. Because of this technological progress, B2B Trade Portals
have grown exponentially.
These B2B portals helping in bringing
the Buyers as well as Suppliers & Manufacturers into one platform and
benefiting both to the maximum from the Business.
It's a new way of making Business on the
internet. It works through many web portals that are known as B2B Websites or
B2B Portals that have had a directory or list of products, suppliers,
manufacturers, traders, distributors and wholesalers of all kinds of products
across the world so that it helps buyers and suppliers to connect with each
other across the globe. B2B Websites are very effective tool.
Business-to-Consumer (B2C)
Business to Consumer (B2C) is business or
transactions conducted directly between
a company and consumers who
are the end-users of its products or services. The
business to
consumer as a business model differs significantly from the business
to business model, which refers to commerce between two or more businesses.
Business-to-Employee (B2E)
Business to
Employee (B2E) electronic commerce uses an intra-business network which
allows companies to provide products and/or services to their employees. Typically,
companies use B2E networks to automate employee-related corporate.
Consumer-to-Consumer (C2C)
Customer to Customer (C2C), sometimes known
as Consumer to Consumer, Ecommerce involves
electronically-facilitated transactions between individuals, often through
a third party.
Pros:
- No checkout queues.
- Email up-to-date product and company information to multiple buyers at one time.
- Reduce prices.
- You can shop anywhere in the world(globally).
- Easy access 24 hours a day.
- Wide selections.
- Images are Unable to examine products easily.
- Not everyone is connected to the Internet
- There is the possibility of credit card number theft
- On average only 1/9th of stock is available on the net
Future of Ecommerce In India
India's e-commerce market was worth about $3.9 billion in 2009,
it went up to $12.6 billion in 2013. In 2013, the e-retail segment was worth
US$2.3 billion. About 70% of India's e-commerce market is travel related.[7] According to Google India, there were 35
million online shoppers in India in 2014 Q1 and is expected to cross 100
million mark by end of year 2016. CAGR vis-à-vis a global growth rate of 8–10%.
Electronics and Apparel are the biggest categories in terms of sales.
According to a study conducted by the Internet and Mobile Association of
India, the e-commerce sector is estimated to reach Rs.
211,005 crore by December 2016. The study also stated that online travel
accounts for 61% of the e-commerce market.
By 2020, India is expected to generate $100 billion online
retail revenue out of which $35 billion will be through fashion e-commerce.
Online apparel sales are set to grow four times in coming years.
India's retail market is estimated at $470 billion in 2011 and
is expected to grow to $675 Bn by 2016 and $850 billion by 2020, –
estimated CAGR of 10%. According to Forrester, the e-commerce market in India
is set to grow the fastest within the Asia-Pacific Region at a CAGR of over 57%
between 2012–16.
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