E-commerce stands for electronic commerce. E-commerce refers to buying and selling of goods or services over an electronic network, primarily the internet. Electronic commerce emerged in the early 1900s, and its use has increased at a rapid rate. Today majority of companies have an online presence. In fact, having the ability to conduct business through the internet has become a necessity. Everything from food and clothes to entertainment and furniture can be purchased online. Due to globalization, E-commerce has emerged as a boon for the global market. Now anyone can buy goods and services anytime from any corner of the world. There are several types of E-commerce.
Business to consumer (B2C)-
Business to consumer is a type of e-commerce in which goods and services are directly sold by producer or businessman to their customers online. For example- an individual can purchase sneakers directly from Nike’s website.
Business to business (B2B)-
Business to business is a type of e-commerce in which all electronic transactions of goods and services are conducted between companies. For example- GoDaddy sells domain names, websites and hosting services to other companies.
Consumer to business (C2B)-
Consumer to business is a type of e-commerce which is completely reverse of the traditional sense of exchanging goods. In this, consumers sell product or services to business. For example- sites where designers present several proposals for a company logo and where one of them is selected and effectively purchased.
Consumer to consumer (C2C)-
Consumer to consumer is a type of e-commerce in which all the activities related to buying and selling of goods and services are conducted between consumers. For example- an individual selling product which is no longer in need to another consumer via a site like eBay or Amazon.