What is e-commerce?
E-commerce in the rough language is selling products and services through the internet. E-commerce is actually an abbreviation of the term “Electronic commerce”.Though e-commerce is mostly used to sell products and to deliver services to people any kind of Electronic transaction could also be termed as E-commerce.
Introduction to e-commerce
Frankly speaking nowadays every person and their pet buys products online in their leisure time. People have started thinking that what is the need of going out in the scorching sun or chilly winters when one can get whatever they want in the comfort of their home.
Though e-commerce was already popular arrival or coronavirus have increased the scope of e-commerce to a much higher extent. People have even started buying essential everyday items like vegetables, fruits, medicines, groceries, and almost every tangible thing and needed services.
The history of e-commerce is almost ancient now, it was started in August 1994 when a man sold a CD to his friend via e-commerce. From then till now the reach of e-commerce is continuously growing day by day. Now e-commerce is that important in some people’s lives that they don’t even know how their life is going to work without any e-commerce service and we couldn’t even deny the role that e-commerce service plays in saving our precious time.
I have people in my friend group and relatives who are so busy in their life that they don’t even have time to go shopping, leave alone shopping they donut even have time and energy to cook their food after returning from a long hectic day at the office.
E-commerce indeed made our lives easier by saving a tonne of our time, on the other hand, it is also very true that e-commerce gave employment to many unemployed people. People started their e-commerce sites and started selling the products made by them, many small businesses are opened, people started selling products and services in which they are good in return for money via these e-commerce sites and the number of these e-commerce sites is increasing every other day.
What are E-commerce websites?
E-commerce means selling products or services via the internet that involves online transactions. Every other E-commerce website follows this structure. The site where you could get these products and services are referred to as E-commerce websites.
5 most famous E-commerce websites in India
- Amazon India- Amazon launched its Indian website in 2013. It is the most famous e-commerce site not just in India but in the whole world. Flipkart-Amazon has many sellers and you can get almost every product you could ever think of on Amazon. Just search and you get it.
- Flipkart- Flipkart is second in terms of popularity after Amazon. Flipkart is referred to as “King of Indian E-commerce “.Flipkart beats Amazon in-app transactions as it is pushing more towards them.
- Snapdeal- It is also called the Indian version of Walmart. The founder and CEO of snapdeal Kunal Bahl said that rather than an e-commerce site he wants to generate his business model just like Alibaba, i. e. “A technology platform that brings buyers and sellers together “
- Alibaba- No Alibaba does not have an Indian website yet but still Indian customers but still people buy electronic and bulk items from this website due to the benefit that they get by buying from this website. Its popularity is increasing day by day in India.
- eBay India- once upon a time eBay was on the same spot as Amazon but due to Travails, its rating has fallen down in India as well as in the whole world. Still, it managed to get 5th position, that’s not bad at all keeping in view the competition in e-commerce nowadays.
Types of e-commerce businesses
Keeping in view who is buying and who is selling E-commerce websites are divided into various parts. The consumer doesn’t always have to be an individual person, a consumer could even be an organization, institution, or anyone who buys something from you.
B2C E-COMMERCE
This simply means Business to consumer and this is the most common type of business model. This is the one in which products are sold by retailers directly to their end customers. Be it an online or offline platform it is the most common type of business model.
B2B E-COMMERCE
This stands for Business to business. It does exactly what the name says, in this one business sells products and services to another business. Examples of B2B e-commerce are wholesale selling to smaller businesses, selling raw materials to businesses, etc.
C2C E-COMMERCE
This means consumer to consumer. In this one individual sells product or service directly to another consumer just like eBay there are many other websites in which consumers sell products to each other.
C2B E-COMMERCE
Stands for Consumer to Business. This is the opposite of the first one in this instead of business to consumer, it works from consumer to business some examples of this are freelancing, influencers, etc.
How does E-commerce Works?
Here is an example of how does E-commerce actually works, though the functioning of every e-commerce is not the same:-
- The first step of buying something from E-commerce is to open the website from which you have to order.
- The customer searches for the product that they want to order and if they are interested in buying a product then they will just add it to the cart or click on buy now Instantly.
- After the customer clicks on the buy now button the order of the customer goes directly to the order manager goes i.e. a central computer that looks after the location of the product till the time it is reached successfully to the customer.
- After the order manager sends a query to the database about whether the product is in stock or not.
- If the product is not in stock then the order manager checks that whether it could be ordered from the manufacturers or not. If it could be ordered then the product is ordered and the final date and time that the order will take to arrive are displayed and this all happens in real-time.
- The database assumes that the product is in stock, the order manager will contact a merchant website and will ask that website to take payment from the customer’s debit or credit card.
- The merchant system then contacts the consumer’s bank to check whether they have enough funds or not.
- The merchant website confirms that the bank of the consumer has enough funds , the transaction will go ahead, though it will take some time to reach the website from which the consumer is ordering
- The order manager confirms the payment and Processes the article and also informs the webserver about it.
- After the order has been processed a webpage confirming the order is shown to the consumer.
- A request to dispatch the goods is sent by the order manager.
- A vehicle collects the dispatched Items from the warehouse.
- The warehouse sends a mail to consumers that the item has been dispatched.
- The order reaches the consumer finally.
This is a completely virtual process with a few exceptions.
How to start your own E consumer Company?
Here are seven steps to start your e-commerce Company:–
- Find your business niche in which you have to start your business.
- Give a name to your business.
- Register your e-commerce business and complete the legal procedure.
- Get your employee identification number.
- Apply for a business permit and license.
- Create a website.
- Buy or start making your products.
- Start selling.
Now that you know a lot about e-commerce you could easily start your e-commerce business and start selling whatever product or service you want to sell. E-commerce nowadays is one of the best business niches and its scope is growing day by day.
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