Must have heard. When you go shopping at a shop, you ask yourself the same question. And we also hear from the customers who have already come to shop that everything changes with time. Similarly, our way of shopping and doing business is also changing. And we no longer need to go to the nearest furniture store to buy a chair. Because you can do this work sitting at home with just one click. Yes! You heard it right, with one click you can buy and sell the goods you need.
History of E-commerce
On the afternoon of August 11, 1994, Phil Brandenberger turned on his computer and purchased a NetMarket CD for $12.48, paid by credit card. The name of this CD was ‘Ten Summoners’ Tales’. This incident had created history. And even today this is considered a real e-commerce transaction. Because during this online transaction, Encryption Technology was used for the first time in online shopping. Which has become a common thing today. But e-commerce was also born during the time of the Internet. Because universities, educational institutions, and researchers. During the 1960s, businesses began sharing their business documents with other companies using Electronic Data Interchange (EDI). Then in 1979, the American National Standards Institute created a universal standard for sharing business documents, known as ASC X12. After this, the birth of electronic companies like eBay, Amazon etc. started. And the e-commerce revolution began. The technology that started with document sharing is now in our hands. And we can buy items available online from any corner of the world with just one click. This is the real power of e-commerce.
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Types of e-commerce:
Business to Business E-commerce (B2B E-commerce):
As per its name, B2B e-commerce deals with transactions made between two businesses. For example, if a company does not manufacture any product itself and buys it from another company and then sells its product, then it comes under B2B.
Business to Consumer E Commerce (B2C Ecommerce):
In this the transaction takes place between a business and a consumer. This is the biggest e-commerce site. For example, consumers buy goods directly from companies like Flipkart, Amazon etc.
Consumer to Business Ecommerce (C2B Ecommerce):
This transaction is the opposite of B2C. In this the transaction takes place between the consumer and the business. For example, a consumer gives an online requirement to create a website, and a company offers to create a website for it at a reasonable price.
Consumer to Consumer Ecommerce (C2C E-commerce):
It happens between two consumers. In this, something is bought and sold by two consumers among themselves. Like it happens on sites like eBay, OLX, in which one person sells a product or service to another.
Business To Government (B2G): This type of e-commerce includes all transactions done online between companies and public administration or government. It is a sector that includes a large quantity and variety of services, especially in areas such as financial, social security, employment, legal documents and registrars etc.
Consumer To Government (C2G): This includes all electronic transactions made between the consumer and the administration (government). Like paying taxes, paying for health services, getting distance education etc.
Advantage of e-commerce
Its benefits are as follows:
Through e-commerce we can transact our business in national and international markets. Before buying any product, we can know about the quality of that product by reading reviews and comments about that product, which makes it easier for us to buy the product. We can use e-commerce 24 * 7 hours. In e-commerce, all the work is done between the organization and the consumer, there is no need of a third party, which directly benefits the organization.
Disadvantage of e-commerce
Its disadvantages are as follows: –
E-commerce requires high speed internet, sometimes due to low speed the e-commerce website does not work. For e-commerce, it is necessary to have knowledge of computers, mobile and internet. When we buy any item, it takes 2-3 or more days for the item to arrive. Security has to be taken care of. Because when we make online payments, it is necessary to have security, otherwise the account can be hacked or our information can be hacked. When no other e-commerce website comes into the market.
Conclusion
E-commerce is made up of two words e and commerce. The full name of E-commerce is electronic commerce. e means electronic network i.e., internet and commerce means buying and selling of goods/goods or services. Thus, e-commerce means buying and selling of goods and services through the Internet. Today there are many big e-commerce companies in the market. The technology that started with document sharing is now in our hands. And we can buy items available online from any corner of the world with just one click. This is the real power of e-commerce.
Such as: – OLX, Amazon, Flipkart, eBay, Paytm etc. Which provides a facility to do business through the internet.
