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Definition of E-Commerce

24/12/2023

Although e-commerce is generally considered the exchange of goods and services online, e-commerce is actually a broader concept that includes economic activities and electronic payments as well as trade in goods and services.

Definition of E-Commerce
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Definition of E-Commerce

Although e-commerce is generally considered the exchange of goods and services online, e-commerce is actually a broader concept that includes economic activities and electronic payments as well as trade in goods and services.

Definition;

Also called e-commerce or electronic commerce, it is a type of business model in which transactions are carried out worldwide over the internet or electronic media.

E-commerce should not be confused with e-business because e-business is a concept in which businesses conduct their activities online, while e-commerce refers to a business model that carries out transactions between buyers and sellers electronically.

Currently, various goods and services are bought and sold on a regular basis using different types of e-commerce; A large portion of the world's population prefers online services to traditional offline services. This has led to e-commerce being called a "disruptive technology" that causes radical changes in society.

Examples of e-commerce include dropshopping, crowdfunding, electronic payments, online subscriptions, internet banking, online shopping and digital transactions.

E-commerce Types
There are four main types of e-commerce:

Business-People (B2C)

Business-to-Business (B2B)

Consumer-Business (C2B)

Consumer-to-Consumer (C2C)

 

E-commerce: Business-to-Consumer (B2C)
B2C is the most common e-commerce model due to the ability of e-commerce businesses to deliver their products or services electronically directly to consumers. Business-to-consumer involves a direct transaction between businesses and consumers electronically. It is also considered the retail model among the four e-commerce models.

E-commerce: Business-to-Business (B2B)
B2B is an e-commerce model in which businesses carry out transactions with other businesses electronically. This e-commerce model often finds value in industries that produce high-quality products or services. These products or services are often traded with other businesses, which can then sell them directly to consumers or use them in their production processes.

E-commerce: Consumer-to-Business (C2B)
This is the least common ecommerce model, generally popular among freelancers. This business model involves consumers electronically exchanging their products and/or services directly with a business. The Consumer-Business e-commerce model is the opposite of the Business-People model and does not usually include a middleman or wholesaler.

E-commerce: Consumer-to-Consumer (C2C)
The consumer-to-consumer e-commerce model is also called the person-to-person (P2P) e-commerce business model. This e-commerce model involves the exchange of goods, services or information between consumers and usually occurs through third-party platforms such as sahibinden.com, Dolap, eBay or Facebook Marketplace. These third-party platforms are often called person-to-person selling platforms.

C2C is the exact opposite of the consumer-Business e-commerce model, where a consumer exchanges their products and/or services with a business.

Benefits of e-commerce
The benefits of the e-commerce industry are currently being experienced among consumers and businesses around the world.

These benefits include:

Availability of a diverse and increasing amount of different products and services.

Various methods are available for transactions.

The ability of businesses to reach potential consumers from different countries around the world.

Ease of offering products and services online.

Ease of access for businesses and consumers

Advantages of e-commerce
Now let's take a look at some of the advantages of e-commerce.

E-commerce: Ease and Speed ​​of Access E-commerce platforms can be easily accessed via mobile phone, laptop or other electronic means. Additionally, they operate quickly, unlike brick-and-mortar stores where the presence of large crowds can affect service speed.

E-commerce: Continuous Relevance

Most e-commerce platforms are available around the clock, allowing businesses to transact with their customers without any specific time constraints.

E-commerce: Wide Range of Products and Services

The e-commerce industry is filled with a wide range of products and services offered by both businesses and consumers. This increases the chances of easily obtaining a product or service through an online search.

E-commerce: No Local Restrictions

The e-commerce industry enables transactions to be carried out locally and internationally, without roaming. This ensures that businesses have the opportunity to grow and develop a diverse customer base.

E-commerce: Ease of Payment

The various electronic payment methods currently offered through e-commerce are easy and secure. Payment methods such as online payments, electronic payments, and transfers are all a form of e-commerce.

Disadvantages of e-commerce
Unfortunately, e-commerce has its own set of disadvantages. These may include:

E-commerce: Delivery Waiting Time While in physical stores the customer receives the product immediately after payment, purchasing products online requires a certain waiting time.

E-commerce: Security Issues Although these are relatively rare, spam websites may be created for the purpose of selling fake or non-existent products or services to customers. Additionally, these websites can be used to obtain important and personal information about a customer.

E-commerce: Inability to feel the product before purchasing The image of a product online may differ from how it appears offline. This often leaves customers feeling less satisfied after purchasing a product.

E-commerce: Limited customer service E-commerce brands reserve specific hours of the day to provide customer service, which is unlike a walk-in store where the customer can easily ask questions of an attendant to clear up any confusion.

As a result, the growth of the e-commerce industry is rapid and gaining popularity among businesses and consumers, especially in the wake of the events of COVID-19. Led by Alibaba, Amazon, electronic payment companies and many other major e-commerce brands, the e-commerce business model is the most accepted business model globally despite its disadvantages.
E-commerce - Highlights
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