What is Ecommerce?Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. Show
Whereas e-business refers to all aspects of operating an online business, ecommerce refers specifically to the transaction of goods and services. The history of ecommerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web—or “ecommerce” as we commonly know it today. Since then, ecommerce has evolved to make products easier to discover and purchase through online retailers and marketplaces. Independent freelancers, small businesses, and large corporations have all benefited from ecommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail. Global retail ecommerce sales are projected to reach $27 trillion by 2020. Types of Ecommerce ModelsThere are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and businesses. 1. Business to Consumer (B2C): 2. Business to Business (B2B): 3. Consumer to Consumer (C2C): 4. Consumer to Business (C2B): Examples of Ecommerce 1. Retail:
2. Wholesale: 3. Dropshipping: 4. Crowdfunding: 5. Subscription: 6. Physical products: 7. Digital products: 8. Services: Start an online store for freeIt’s never been easier to own and operate a beautiful, fully-featured online store. A
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Which of the following categories usually generate the highest percentage of online retail revenue?Books, music, and video was the e-commerce category with the highest share in total retail sales in the United States as of February 2021. More than two-thirds (69 percent) of all retail sales in the book, music, and video segment were generated online.
What is a broad term that refers to the buying and selling of goods and services over the Internet as well as servicing customers and collaborating with partners?At its core, electronic commerce or e-commerce is simply the buying and selling of goods and services using the internet, when shopping online. However, the term is often used to describe all of a seller's efforts when selling products directly to consumers online.
What is the first step in the development of B2B eOnce you're ready to make the leap into ecommerce, the first big step is to select a B2B ecommerce platform. With hundreds of platforms on the market, businesses nowadays can easily take advantage of the newest ecommerce features to help meet their customers' needs and modernize their current systems.
Which of the following is the fastest growing online retail category?Automobile and auto parts was the e-commerce category with the highest expected year-over-year growth between 2021 and 2022.
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