What is E-Commerce development? Technology Gyan

 What is E- commerce? -

E Commerce Full Form is 'Electronic Commerce'. It is the activity of buying and selling goods or services by electric means. It is also known as electronic commerce or internet commerce. 

Providing your service or service on the virtual world of the Internet is called e-commerce. These services include online buying and selling of goods on the Internet, marketing, delivery of goods to the addressee, online bill payment and money transactions etc.

Examples of e-commerce platforms are Amazon, Flipkart, E-bay, Myntra, OLX, E-commerce Quikr etc. If you also want to know what is E commerce business and what are its types, then read the post till the end. Presently there is a lot of demand for e-commerce business. In which online payment, booking and studies etc. have become very common. E-commerce site Quickr, Amazon, Flipkart etc. E-commerce platform in India is very popular platform which provides various types of online services to its users.

Moving forward in this direction, now the online business is increasing day by day.

What is E- commerce

The full name of e commerce or e commerce ka full form is "Electronic Commerce (Electronic Commerce)". E Commerce means Electronic commerce or Internet commerce is such a process of business, in which we can buy and sell goods through the Internet as well as transfer money and data. In this, there is no compulsion of place of two people nor of time.

Simply put, any e-commerce website like Quikr, Amazon or Flipkart from which we do online shopping is an example of e-commerce. Not only shopping, internet banking, online ticket booking, online auction, all these works come in the field of e-commerce.

Information about E-Commerce -

E-commerce was done from the year 1991, when the Internet was opened for business for the first time. In 1979, Michael Aldrich created a system called "Teleshopping", so that advertising of goods can be done on television and goods can be bought from home. From here it is considered the seed of Ecommerce.

As the Internet evolved, teleshopping also evolved and transformed into e-commerce. Amazon and eBay took e-commerce to where it is now because they were among the first Internet companies to allow electronic transactions.

Types of E-Commerce

There are mainly four types of e-commerce -

Business-to-Business (B2B):- In this, transactions are done from one business to another business i.e. from one company to another. The consumer has no role in business to business e-commerce. This usually includes products such as raw materials, software, or composite products. Manufacturers also sell directly to retailers through B2B ecommerce.

Business-to-Consumer (B2C):- B2C e-commerce is the most popular e-commerce model. In which the industrialist sells his product or service directly to the customer through the Internet. Business to consumer means that the sale takes place between a business and a consumer. On online stores such as Amazon, Flipkart, the seller reaches his goods to the customers and takes a fair price for it.

Consumer-to-Consumer (C2C):- In this type of business a consumer sells his goods to another consumer through online internet. Most of the goods sold in this are second hand or used. These goods are mostly sold on e-commerce sites like Quikr, OLX etc.

Consumer-to-Business (C2B):- Consumer to business is when a person sells his services or products to a business organization. For example a freelancer who sells his services to any company.

how to start e commerce business

If you want to know about E Commerce Business, then for this you have to read the points mentioned below.

name your business

Business name is always important as it gives you an identity in the market about what you want to sell. This will be the legal identity of your business. The name you choose should be simple and unique.

set domain name

You can also create a domain name i.e. website in the name of your business. It acts as a liaison between you and your customers. This is convenient because here customers can see your product directly and if they like your product then they can also buy it from here.

Identify and register the type of business

Before starting any business, you should decide which type of business suits you best. This will help you in doing business.

Employer Identification Number (EIN)

You cannot run an e-commerce business without a company bank account. You need Employer Identification Number (EIN) of the business to get a bank account. This number serves as identification. You use it to pay taxes for business.

get legal documents

Each country has its own rules and regulations that every citizen must follow. This is also one of the things that you need to start an e commerce business. If you do not do this, the government has the right to fine you or send you to jail.

Advantages of E-commerce

• E-commerce provides a global reach to the sellers. It removes the barrier of space. Now sellers and buyers can meet in the virtual world, without the constraint of location.
• Electronic commerce significantly reduces transaction costs. Due to which companies get to enjoy higher margin of profit.
• It provides quick delivery of goods with very little effort. Customer complaints are also resolved quickly. This saves time, energy and effort for both the consumers and the company.
• One of the biggest advantages is that it gives the customer the opportunity to shop 24×7. The website is functional all the time, it does not have working hours like a shop.
• E-commerce allows the customer and the business to be in direct contact without any intermediaries. It allows for quick communication and transactions.

Disadvantages of e-commerce –

1. The start-up cost of e-commerce portal is very high. Setting up hardware and software, training cost of employees, and maintenance are all quite expensive.
2. There is a huge risk of failure in the e-commerce industry. Many companies have failed miserably in this industry. The high risk of failure remains today.
3. The lack of a personal touch can be a disadvantage for a variety of services and products such as those for interior designing or jewelry businesses.
4. Security is another cause for concern. Recently, we have seen several security breaches where customer information was stolen such as credit card and identity theft etc.
5. Then there are the fulfillment problems as well. There may be problems with shipping, delivery, mix-up etc. even after the order is placed. This leaves customers unhappy and dissatisfied.

Who can start his own e-commerce business?

The short answer is: anyone can start their own ecommerce business. Some e-commerce business is easier to start than others, some e-commerce business owners may have more industry knowledge than others. Taking up an e-commerce business, but the biggest thing about e-commerce is That anyone can build, launch and grow their e-commerce business if they have some time, energy and resources and are willing to put them to work.

Low Barrier to Entry

This means that it does not matter how little time or money you have to invest in your e-commerce business. To start a new business in Traditional Business, one has to first rent a shop or store, then according to the business, products have to be kept in it, then its maintenance can cost a lot and that too before selling the goods to the customers.

They have a chance to be successful and if they fail, it can be very difficult for them to start their business again by doing all this again but it is not so with e-commerce, you can do any You can start your own business without renting a shop or incurring huge costs, or you can run your business online for less than your monthly cell phone bill.

Unlimited Audience Reach

If you open a shop in your area, then you can sell your goods only to the people around you who will be limited people but with e-commerce, you can reach your target audience and sell your products. Wherever they are in the world, you are not limited to customers in just one region.