Explain the implication of an E-commerce transaction.
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Answer:
What is E-Commerce?
What is E-commerce?
Have you ever bought shoes, jackets or anything else on the Internet? Or, perhaps you have used the Internet to sell your old mobile or laptop? If yes, then you have participated in E-commerce.
The term E-commerce is an abbreviation for "Electronic Commerce".
E-commerce, also known as electronic commerce, is a process by which businesses and consumers sell and buy goods and services through an electronic medium.
History of E-commerce:
E-commerce began in the 1960s when businesses began using Electronic Data Interchange (EDI) to share business documents with other companies.
In 1979, the American National Standards Institute developed ASC X12 as a universal standard for businesses to share documents through electronic networks.
It is impossible to imagine the history of E-commerce without eBay and Amazon, who were among the first Internet companies to introduce electronic transactions.
E-commerce is a part of Digital marketing. Digital marketing change the way of promoting products and services. Nowadays, Digital marketing is everywhere and everyone is looking forward to make their career in Digital marketing. If you want to learn you can join the digital marketing institute in Jaipur it will enhance your skills of digital marketing.
The rise of eBay and Amazon in the 1990s revolutionized the E-commerce industry. Users could now buy anything through E-commerce.
E-commerce type:
There are many types of electronic commerce
Generally, when we think of E-commerce, we think of an online commercial transaction between a supplier and a client. While this idea is correct, it can actually divide E-commerce into six major types, all with different characteristics.
1) Business-to-Consumer (B2C):
In this business, a business sells products or services directly to the consumer on the Internet.
For example, you buy anything from Amazon, Flipkart or any other site.
2) Business-to-Business (B2B):
Here companies sell products or services to other companies on the Internet.
In this type of E-commerce, both participants are businesses, as a result, the volume and value of B2B e-commerce can be very large.
3) Consumer-to-Consumer (C2C)
When the consumer sells his product to another consumer on the Internet, this transaction is called Consumer-to-Consumer (C2C).
In this, a consumer sells his property like his old car, bike directly to the other consumer through the internet.
Generally, these transactions are done through third parties, which provide online platforms. For this, many companies like Olx,Quikr charge the consumer for service or provide free service.
Explanation:
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