E-commerce is a buzz word today, especially when due to Coronavirus, a large customer base wants to shift completely to online stores for maintaining health and safety. As ‘just an another Joe’, the term E-commerce is observed as a means of commercialized online sales and transaction in exchange of good and service. Well, as a basic definition of the term, the idea is quite close. However, on a deeper note, E-commerce has six derivatives tat forms the basis of online business. They are:
The transactional relationship between a business and it’s end users is referred to as Business-to-Consumer E-commerce. This is a part of retail E-commerce that operates online in the form of online stores. B2C is one of the largest selling network due to its easy outreach and exposure to end users.
The companies when deal with online retailers through traditional wholesalers and producers of goods are said to be involved in Business-to-Business E-Commerce helping online stores to generate stock for their end users.
Reselling websites like OLX.COM are an example of Customer-to-Customer E-commerce. Such type of E-commerce allows customers to come together for exchange of good and services through an online platform.
When individuals sell their products or services to companies, it is called as Consumer-to-Business. For example, crowdsourcing projects that take place today contribute to such an E-commerce model.
Companies and public administration when come together on a single platform for exchange of services like legal documentation, social security etc. It is called as Business-to-Administration E-commerce.
When a service involves electronic transactions between individuals and public administration for fulfilling activities like tax filing and distance learning etc.It is called as Consumer-to-Administration E-commerce model.
E-commerce, since its inception has taken World on storm. It has quickly outpaced retail market by developing large customer base irrespective of Global boundaries. Today, when the COVID-19 has left no single nation affected, E-commerce has helped curb many market gaps by consistently improvising its style of working and ensuring delivery of essentials at door steps of customers. What can be best than this to help around as a global service during these turbulent times.