Easy Ways For Kids To Make Money - E-Commerce - All You Need To Know

What is E-Commerce?

The difference is that e-commerce happens over wired communication lines connected throughout the globe where the World Wide Web serves as the central E-Commerce in its basic sense means the same as traditional commerce where buyers and sellers come together for doing business by buying and selling goods and services. E-Commerce or Electronic Commerce (EC) is the practice of buying and selling varied good and services on the World Wide Web (Internet).

Facsimile or fax, e-Commerce also happens through the use of more limited forms of communication such as email. Medium for all trading transactions.

Most of the time you will get the products and services at the instance of your payment acknowledgment, if you are making purchases online for virtual products and services. Search for what you need or setup what you want to provide and instantly get the business done, you have to simply hit the service provider's website. E-Commerce enables sell and purchase of commodities and services right from your home and without leaving for seeking what you need.

Payment Gateways or even through traditional payment systems, e-Checks, payments can be made with the use of Credit Cards. So we can term e-commerce to be a reliable trading environment, monetary transactions happen over secure gateways and encrypted channels.

Types of E-Commerce

E-commerce can be found in various different types such as - today,

* Business to Business (B2B)

B2B is also known to be Electronic Data Interchange (EDI). B2B enables automating transactions between trading partners for business efficiency. Over 90% of all e-commerce transactions on the Internet are B2B. Business-to-Business e-commerce has been around for some time.

* Business to Consumer (B2C)

But as a matter of fact most transactions that happen are related to tangible goods, the service or product that is being sold does not necessarily be virtual or intangible. B2C involves direct selling to the consumer over the Internet. Popular websites such as Amazon and like have cashed in over the rise of purchases that happen over the Internet. It continues to grow by leaps and bounds with every passing day. Business-to-Consumer is considered to be one of the best things to happen for e-commerce and the Internet.

* Consumer to Business (C2B)

Etc, being a free lance developer, answering online polls for companies, we can see examples of C2B in forms of affiliate marketing. In a Consumer-to-Business Model a consumer offers goods or services to companies and the companies pay for them. Consumer-to-Business model is a complete reversal of Business-to-Consumer model.

* Business to Employee (B2E)

Etc, offers and rewards program for employees, examples of B2E applications can be seen in online insurance policy management for employees. B2E typically is used for automating employee related work processes. Companies offer products or services to their employees in an intranet environment, in a Business-to-Employee e-commerce.

* Consumer to Consumer (C2C)

They are in no way related to the goods and services being sold or bought and they are not responsible for QA and other such factors. The third party which connects consumers charges a nominal fee for their services. Online Auctioning can be considered to be a good form of Consumer to Consumer e-commerce model where consumers set up sale of goods and services for other consumers where other consumers have to bid and win the specific good or service. In Consumer-to-Consumer e-commerce a third party builds a transaction bridge between two or more consumers involved.

Advantages of E-Commerce

These are some of the advantages that will help you understand the power of e-commerce applications. Starting with Electronic Commerce?

* 100% Business Uptime

They never take a break or close down for the day or take public holidays. 7 days a week and 365 days a year, e-Commerce systems are available for people for 24 hours a day.

* Global Access

Any person or business having just an Internet Connection can access e-Commerce systems. E-Commerce systems can be accessible by any one across the World Wide Web.

* Quick Response Time

Enabling quick commerce, messages are delivered to the end of the globe at the snap of finger. Most of the time much faster than offline systems, transactions can be handled over the Internet instantaneously without high response times.

* Cost Efficiency

Most of the transaction procedures can be automated without any human intervention. Etc can be reduced drastically making business handling and administration much easier, overhead costs, middlemen, staffing. General costs of running a business otherwise are far higher than that operated with the help of technology and e-commerce. E-Commerce is very cost-efficient and economical.

Disadvantages of E-Commerce

Some of which are - * Delivery Time E-commerce too has certain disadvantages, like everything that is good has some of its own disadvantages.

Perishable goods cannot be considered to be shipped for such long delivery times as they tend to get destroyed during transit, moreover. Delivery times may range anywhere from a day to even a month. You can get them instantly, physical goods take some time to reach your home when you buy them online whereas if you go to the local store and buy them.

* Hesitancy

Which is otherwise unavailable on the Internet, some people are accustomed to shop with family and friends and hang out to malls and big outlets, moreover. He lacks that on the Internet, this is due to the fact that if a person wants to feel the service or goods he is paying for. Most customers and businesses are hesitant to do transactions online.

* Online Safety

An amount of trust has to be developed before starting or involving into transactions. Security and like factors, confidentiality, customers and businesses should be assured of privacy implications. Online safety is a critical factor that most people consider before even thinking of performing commercial transactions.