Ecommerce refers to the buying and selling of goods and services over the internet. It involves transactions conducted electronically, typically through websites or mobile apps.
There are four main types of ecommerce:
- Business-to-Consumer (B2C), e.g. Amazon, Shopify stores
- Business-to-Business (B2B), e.g. manufacturers, wholesalers, SaaS
- Consumer-to-Consumer (C2C), e.g. individuals who sell on platforms like eBay or Etsy
- Consumer-to-Business (C2B), e.g. freelancers, content creators
Ecommerce offers businesses a host of benefits. For instance, online stores are open 24/7 and allow companies to reach a global audience. They also have lower overhead costs compared to traditional brick-and-mortar stores.