What is E-commerce? what are forms of e-commerce? what is benefits and challenge of e-commerce? how to start e-commerce site? what is a governing bodies,laws and regulations of e-commerce?
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Answer:
E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are often used interchangeably. The term e-tail is also sometimes used in reference to the transactional processes for online shopping.
In the last decade, widespread use of e-commerce platforms such as Amazon and eBay has contributed to substantial growth in online retail. In 2007, e-commerce accounted for 5.1% of total retail sales; in 2019, e-commerce made up 16.0%.
Types of e-commerce
Business-to-business (B2B) e-commerce refers to the electronic exchange of products, services or information between businesses rather than between businesses and consumers. Examples include online directories and product and supply exchange websites that allow businesses to search for products, services and information and to initiate transactions through e-procurement interfaces.
In 2017, Forrester Research predicted that the B2B e-commerce market will top $1.1 trillion in the U.S. by 2021, accounting for 13% of all B2B sales in the nation.
Business-to-consumer (B2C) is the retail part of e-commerce on the internet. It is when businesses sell products, services or information directly to consumers. The term was popular during the dot-com boom of the late 1990s, when online retailers and sellers of goods were a novelty.
Today, there are innumerable virtual stores and malls on the internet selling all types of consumer goods. The most recognized example of these sites is Amazon, which dominates the B2C market.
Consumer-to-consumer (C2C) is a type of e-commerce in which consumers trade products, services and information with each other online. These transactions are generally conducted through a third party that provides an online platform on which the transactions are carried out.
Online auctions and classified advertisements are two examples of C2C platforms, with eBay and Craigslist being two of the most popular of these platforms. Because eBay is a business, this form of e-commerce could also be called C2B2C -- consumer-to-business-to-consumer.
Consumer-to-business (C2B) is a type of e-commerce in which consumers make their products and services available online for companies to bid on and purchase. This is the opposite of the traditional commerce model of B2C.
A popular example of a C2B platform is a market that sells royalty-free photographs, images, media and design elements, such as iStock. Another example would be a job board.
Business-to-administration (B2A) refers to transactions conducted online between companies and public administration or government bodies. Many branches of government are dependent on e-services or products in one way or another, especially when it comes to legal documents, registers, social security, fiscals and employment. Businesses can supply these electronically. B2A services have grown considerably in recent years as investments have been made in .
What is E-commerce?
Ans. 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.
What are forms of e-commerce?
Ans. There are six basic types of e-commerce — Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C), Consumer-to-Business (C2B), Business-to-Administration (B2A) and Consumer-to-Administration (C2A) — and all of them represent a different purchasing dynamic.
What are benefits and challenge of e-commerce?
Ans. While it gives benefits to customer and seller, e-commerce gives challenges to traditional business for competitive position. ... When the internet cost will be low then the e-commerce will flourish easily and will make many of traditional business to run out of their business.
How to start e-commerce site?
Ans. How to Start An Ecommerce Business (Step-By-Step) Research Ecommerce Business Models. Start Ecommerce Niche Research. Validate Target Market and Product Ideas. Register Your Ecommerce Business & Brand Name. Finalize Your Ecommerce Business Plan. Create Your Online Store. Attract Customers To Your Ecommerce Website.
What is a governing bodies,laws and regulations of e-commerce?
Ans. The E-commerce sector in India has grown at a remarkable pace of 34% Compounded Annual Growth Rate (CAGR) since 2009 and is estimated to grow at a CAGR of 63% to reach ~USD 8.5 billion in CY 2016. However, like all other flourishing sectors, there are challenges plaguing this sector as well, one of which is inadequate and inefficient legal and regulatory framework able to cope with ensuring rights and obligations of the contracting parties. India enacted the Information Technology Act in June 2000. But, this is being an enabling statute only; we need more regulations for making E-commerce transactions fairer and achieving a more consumer-friendly E-commerce environment in India. This paper seeks to study the present E-Commerce laws and regulations in India, their effectiveness in dealing the legal issues of E-Commerce and any need for further addition in the same.