In today’s modern technology, running an online business is widespread in the retail world. A recent article, What Does eCommerce Mean? by Lucas Dominic correlates eCommerce (electronic commerce) to online businesses.
What is eCommerce?
eCommerce is an advanced way of transacting businesses using computer networks or any electronic means. It is a term used for buying and selling goods or services over the internet. Its function includes e-payments, mobile commerce, e-marketing, automated data analysis systems, electronic data interchange, supply chain management, and inventory management systems.
Benefits of electronic commerce
- You can buy or sell regardless of time differences and geographical locations. For instance, your business is in executive suites Philly while your customer is in small office space Lake Mary, you can transact business over the internet in real time.
- It’s convenient and simple — shopping can be done in just one click.
- The seller can present the product in the best way by adding as many details as possible so online customers can get more information about the product they’re thinking about buying.
- Online shoppers have a myriad of choices from retailers around the world.
Classifications of eCommerce
- B2B- Business to business– a business transaction between two companies. For instance business manufacturers selling goods to wholesalers or wholesalers to retailers.
- C2B- Consumer to business — a business transaction where consumer/individual offers services to businesses (e.g. blogging).
- B2C -Business to Consumer–a transaction between retailers and their customers.
- C2C-Consumer to consumer – this type of transaction allows customers to sell their items online through classified ads, online forums or market websites, i.e. Craigslist.
With modern technology, business transactions are made seamless and convenient. Nevertheless, a great workspace with complete array of technology is required to optimize the benefits of eCommerce. YourOffice offers you a wide choice of office and workspace solutions: flexible office space, team office space and virtual office packages. You’ll have access to a complete array of office support and concierge services as well as state-of-the-art business technology.
How do you benefit from eCommerce? Let’s hear your thoughts and comments below. You can also see us on Twitter and Facebook.