What is E-Commerce?

Summary

E-commerce refers to the buying and selling of goods and services over the internet, with over 40% of internet users making online purchases. It is divided into four categories: B2C (business-to-consumer), C2C (consumer-to-consumer), C2B (consumer-to-business), and B2B (business-to-business). B2C includes well-known platforms like Amazon, where consumers buy from businesses. C2C involves transactions between consumers, such as on eBay. C2B represents situations where consumers provide services to businesses, like product reviews. B2B encompasses transactions between businesses, such as services offered by companies like pea-soup Digital.

Takeaways

• 😀 E-commerce is the buying and selling of goods or services over the internet.
• 😀 Over 40% of internet users make online purchases, contributing nearly $1.5 trillion annually.
• 😀 B2C (Business-to-Consumer) is the most common form of e-commerce where businesses sell directly to consumers.
• 😀 An example of B2C is when you buy a product, like a t-shirt from Amazon.
• 😀 C2C (Consumer-to-Consumer) is when goods are exchanged between consumers through online platforms like eBay or Gumtree.
• 😀 C2B (Consumer-to-Business) occurs when consumers offer products or services to businesses, such as bloggers reviewing products for companies.
• 😀 B2B (Business-to-Business) involves transactions between businesses, such as one company selling services to another.
• 😀 E-commerce transactions span across various industries, offering a wide range of services and goods.
• 😀 The digital marketplace has seen exponential growth, making e-commerce a central part of the global economy.
• 😀 E-commerce categories (B2C, C2C, C2B, B2B) help distinguish the different types of online commerce and their functions.

Q & A

What is e-commerce?

E-commerce refers to the buying and selling of goods and services over the internet.

How many internet users have made an online purchase?

Over 40% of all internet users have made an online purchase.

How much is spent annually in e-commerce?

Nearly 1.5 trillion dollars are spent annually in e-commerce.

What is Business-to-Consumer (B2C) e-commerce?

B2C e-commerce is when businesses sell goods or services directly to consumers, such as when you buy a product from Amazon.

Can you give an example of B2C e-commerce?

An example of B2C e-commerce is purchasing a t-shirt from Amazon.

What does Consumer-to-Consumer (C2C) e-commerce involve?

C2C e-commerce involves transactions where consumers sell goods or services to other consumers through online platforms or marketplaces.

What are examples of C2C platforms?

eBay and Gumtree are examples of platforms where C2C transactions occur.

What is Consumer-to-Business (C2B) e-commerce?

C2B e-commerce is when consumers provide products or services to businesses, such as a blogger reviewing a product for a company.

How does Business-to-Business (B2B) e-commerce work?

B2B e-commerce involves transactions between two businesses. For example, one business may sell services or products to another business.

Can you give an example of a B2B transaction?

An example of B2B e-commerce is a company like Pea-Soup Digital providing digital services to other businesses.