The basics of e-commerce
The internet has been rapidly evolving in recent years. Now, you can have your own business over the World Wide Web. Whether it is a small Facebook online shop, or a big online business that is your main source of income, many people have looked on to the internet to process and manage their businesses, so much so that there is already an economics for it. This economy has been called which is called Electronic commerce, or e commerce/eCommerce as it is commonly known.
It is technically defined as buying and selling products or services over electronic systems such as the internet. This can serve as a very successful business venture for any willing entrepreneur out there. Here are a few more things you would need to learn about e-commerce:
The internet is not the only medium that is used in E-commerce. There are also other forms of communication and transportation that are utilized such as mobile phones and delivery services and these systems fall under e-commerce as well.
The goods that are sold through e-commerce can also be for virtual items, examples of virtual items are access to premium content on a website, or it can be a subscription to a certain service. It can also be physical items that will be delivered to the buyer.
One of the more successful and iconic examples of E-commerce today is eBay. This is a site wherein
E-commerce has become very successful with the continuous growth of the World Wide Web. In fact, online retail has generated $175B in revenues in 2007 in the US alone.
There are different types of E-commerce businesses, which are as follows:
– Business-to-Business (B2B)
– Business-to-Consumer (B2C)
– Business-to-Employee (B2E)
– Business-to-Government (B2G) (also known as Business to Administration or B2A)
– Business-to-Machines (B2M)
– Business-to-Manager (B2M)
– Consumer-to-Business (C2B)
– Consumer-to-Consumer (С2C)
– Citizen-to-Government (also known as Consumer-to-Administration or C2A)
– Government-to-Business (G2B)
– Government-to-Citizen (G2C)
– Government-to-Employee (G2E)
– Government-to-Government (G2G)
– Manager-to-Consumer (M2C)
– Peer-to-Peer (P2P)
In the United States there are different bodies that govern and regulate e-commerce, such as the Federal Trade Commission (FTC). E-commerce activities that are regulated include online advertising, sending out commercial e-mails and of course consumer privacy since at times businesses deal with Credit Card information and addresses. That is why any and all corporate privacy policies related to any e-commerce activities are subject to enforcement by the FTC.
The growth of e-commerce is not only happening in the United States but in other parts of the world as well. The United Kingdom already has an increasing e-commerce market. With the most number of internet users, China’s online shopping sales have increased as well and with that an increase in the e-commerce market as well.