Friends, today we will talk about what e-commerce business is, types of e-commerce, history, and benefits in this article.
Today, with the increasing popularity and use of the Internet, “e-commerce” is all the rage.
But what is this “e-commerce” and “e-commerce business”?
When we all buy and sell products online, we also become a part of e-commerce.
Because these types of websites provide an opportunity to buy/sell products through the online Internet.
The benefits of E-COMMERCE are many, and it has made our lifestyle process easier.
That’s what I think.
Some examples of e-commerce are –
- Online shopping
- Electronic Payments
- Online Auctions
- Internet Banking
- E-ticketing / Online Ticketing
- Online hotel booking
- Online train
So let us first know “what is e-commerce.”
The complete form of the word “E-commerce” is “electronic commerce” or “internet commerce”.
The process of buying and selling any product (goods and services) using the Internet is called e-commerce.
In the case of buying and selling through the online Internet, there is an exchange of data and online payment / online transactions between buyer and seller.
However, almost every e-commerce business currently offers the convenience of cash on delivery to customers for offline payment instead of selling products.
The term e-commerce refers to selling any physical product over the Internet.
Again, various commercial transactions done through the Internet can also be considered e-commerce.
However, every aspect of an online business can be called eCommerce.
And those businesses conducted online through the Internet are called e-commerce businesses.
In this way, the websites through which it is possible to buy and sell products online are called e-commerce sites (e-commerce websites).
For example, Amazon, Alibaba, or eBay.
So, friends, I hope you understand what e-commerce is.
What Is The History of The E-Commerce Business?
And, in those old days, ordinary people couldn’t have a computer device at home.
Therefore, the potential of E-commerce and its planning has not crossed anyone’s mind.
It is said that on August 11, 1994, the world’s first e-commerce sale (sell) or sold online.
It happened when a person sold a CD online through his website “NetMarket”.
It is known that NetMarket was an online music store.
However, after some time, Jeff Bezos launched a very popular E-commerce platform on July 5, 1994, which we know as “Amazon.”
That time was a perfect time for online business / E-commerce business.
Because ordinary people could enjoy this new experience of buying products through the Internet.
Amazon first started with the business of selling books online. In the first year, amazon sold about 1 million books online through the Internet.
Thus, Amazon gained more popularity from time to time. Within a brief period, Amazon became the favorite e-commerce website of the masses, and everything is available today.
After 1995, ordinary people began to use computers more and more.
And so, online business has become a hugely profitable opportunity.
At that time, payment was received through a check instead of selling the product.
However, after the introduction of PayPal in 1998, online payments became very convenient.
And today, with the popularity of online shopping, online business opportunities are available in almost every country.
As a result, in every country, you will find various e-commerce websites or portals for online shopping.
Hopefully, you have learned a lot about the history of e-commerce.
There are different types of this e-commerce. However, the main types are –
- Business to Consumer (B2C)
- Business to Business (B2B)
- Consumer to Consumer (C2C)
- Consumer to Business (C2B).
Let us know in detail about the types of e-commerce.
In this business, the product is sold to the consumer.
This means any ordinary person can order and buy a product online.
Transactions between businesses and consumers take place in this process.
This type of e-commerce is the most common.
For example, customers can buy products directly from online platforms like Flipkart, Amazon, etc.
By hearing the name; you might have understood what this type of e-commerce business involves.
Hey, B2B e-commerce involves a transaction between two traders or businesses.
For example, suppose a company buys products from other companies and sells them instead of making them.
So, in this case, there is online buying and selling between two businesses, so this type of e-commerce will be caught in B2B e-commerce.
Also, here you cannot buy one or two products. The product must be ordered in bulk.
The product is bought at the minimum selling amount given by the seller.
Like IndiaMart, TradeIndia, Alibaba etc.
Here, the transaction takes place between two consumers.
This means two consumers buy and sell products/services to each other online.
As can be said of eBay, QUIKR, or OLX.
Using these websites, a person can sell his services or products to another person or buy products from another person.
It is an electronic commerce business model with a transaction between the consumer and the business.
Here, consumers offer to sell their products, goods, or services to companies, and companies buy them with consumer money.
For example, online product reviews, social media promotion, online product promotion/review, etc., in various cases, companies/businesses buy services with the money of ordinary consumers.
As a customer, the benefits and advantages of e-commerce are numerous.
- You can sell and buy products and services within your city, country, or worldwide.
- E-commerce has many benefits for a business because people can buy products at home without going to a store or anywhere else.
- Different or different products can be seen and bought from one place.
- Compared to the local market, the products are available at a lower price in the online market.
- Useful in online marketing and promotion of the company.
- There are various e-commerce websites from which you can return the product if you are unsatisfied after purchasing it.
- Through product review, we can know the product quality and other issues related to the product.
- From time to time, suitable offers and deals are available through which various items can be bought at much lower prices.
- Online marketing of e-commerce business is much easier and more effective than physical business.
- As a consumer, we quickly get the latest products on these e-commerce platforms.
So do you understand how easy and profitable our shopping has become due to e-commerce?
And this is the reason, as a result of which businesses involved in e-commerce have become very profitable today.
If the consumer is given a small discount and a good quality product, then there is no more worry.
Hopefully, you have got the answer to the benefits of e-commerce.
If you are considering starting your own e-commerce business, that is a good idea.
However, I will tell you all about this in a separate article.
However, below I am telling some general points important in creating an e-commerce website.
- First, you must consider which product will be profitable to do business with.
- Think whether the product will be delivered only within your city or across the country.
- Find out where you can find the product you want to sell online at a much lower price.
- Stock the product in your godown.
- Register your E-commerce business. Obtain necessary trade license etc.
- An e-commerce platform/website should be created.
- If you want, you can create an e-commerce website using WordPress. Moreover, with some money, a web developer can make your website.
- Contact the excellent courier delivery service next to you for product delivery.
- Once your e-commerce website is built, promote it online through digital marketing. First, you need to create a good image for your e-commerce website.
- In the first instance, customers must deal with huge discounts without considering reducing profits.
- Once people feel good about buying things from your online store, your brand will slowly build up.
- After gaining some popularity, you can think about earning profit.
See, nowadays, you or I like to shop online a lot.
Because we can easily search for anything we need through our mobile.
Moreover, many things are unavailable in the local market, which we can quickly get in the online market.
Hence, the demand for e-commerce and the importance of e-commerce are huge nowadays.
But the question is, will there be demand for it in the future?
The answer is straightforward, “There will be and more than now.”
The use of e-commerce platforms is doubling every year.
In earlier times, people used to be less cautious regarding online shopping.
However, as the number of internet users is increasing nowadays, the number of people doing online shopping is also multiplying.
With the advanced digital environment and modern lifestyle, people now trust these online shopping processes.
With the benefits of various offers, best product quality, product variety, cash on delivery, and fast home delivery, online e-commerce is moving forward rapidly.
So, there is a lot of opportunity in the e-commerce business, and this kind of business will have a lot of profit in the coming time.
Friends, today we know what e-commerce business is (what is e-commerce in Bangla), the types of e-commerce and how e-commerce works.
Moreover, we have also talked about the history of this online business system.
You can do it if you are also thinking of doing online business.
However, work must begin with a literary judgment (idea) and planning.
Nowadays, e-commerce is very profitable, and many people are doing this business.
This is what I always try to do so that I can give you completely accurate and working information.
So, if you like the article “What is E-Commerce”?
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