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E-commerce itself has different kinds of further variations, and mainly there are 4 different types of e-commerce business models you need to know.
E-commerce platforms provide the customer-facing front end of an online business. Online businesses, like every other business, require additional programming to manage back-end functions. E-Commerce is the term used to describe the purchasing and selling of goods, services, and digital products over the Internet. These exchanges deal with a wide range of company models, market segments, and product lines.
Although the first internet purchase was made many years ago, customer shopping habits have changed significantly since then. E-Commerce itself has different kinds of further variations which are explained below:
Let's discuss about these ecommerce business model one-by-one;
Business-to-business is the biggest and the most preferred type of online commerce. According to this concept, the buyer and the seller are two distinct entities. It is comparable to a factory releasing products to a wholesaler or retailer.
Bulk pricing, orders for bigger quantities, or specialty goods that the normal consumer would never require on a daily basis can all be included in B2B transactions. When properly executed, B2B transactions forge strong and lasting bonds between each party. Office supplies, fuel and oil, medical equipment, aircraft, ships, and military equipment are examples of typical goods that are traded between businesses. For the average consumer to buy these things on their own would be daunting due to their size or the quantity needed.
The B2C model is the most conventional used method from the perspective of the consumer. This model simulates an in-person purchase at a physical business, but it happens totally online. It refers to the portion of e-commerce that is committed to retail, which is frequently where traditional retail trading occurs.
These kinds of connections can be simpler and more dynamic, but they can also be sporadic or terminated. This type of business has grown quickly as a result of the development of the internet, and there are now a number of virtual stores and malls available online that sell a variety of consumer goods, including computers, software, books, shoes, vehicles, food, financial products, digital magazines, etc.
In essence, a C2C means that a consumer would get in touch with a company to look for a good client. The majority of matrimony websites and auction websites (like eBay) have already been developed and are right now functioning with this methodology. An effective marketplace unto itself is the internet. Other markets have developed to give customers shopping choices and ways to get desired goods.
In addition to the above-mentioned forms of Ecommerce, there are numerous other hybrid Ecommerce practices being used in today's globalized society. As a consumer, one would definitely rely on the best judgment in selecting the right model because it is critical to the firm.
The C2B approach enables businesses to benefit from customers, as opposed to how it is often done. Through a reverse auction mechanism, customers can offer businesses a service to support their current operations. Customers can bid on specific projects in the same way that contractors do, adding value to the company. With the name your price option, companies can connect with customers in previously untouched areas of a community.