These days, people have been relying on e-commerce for their transactions and purchases. With the recent spread of COVID-19, consumers make use of e-commerce to purchase what they need during the stay home period.
E-commerce is described as the use of the internet to transact with buyers and sellers. It can vary from an individual or a company offering or accepting products and services online. This also refers to different online activities involving business such as online banking, payment gateways, and event ticketing.
The internet had only been used for making online transactions during the mid-1990s. Ever since then, it continued to grow along with the advancement of different technologies. More industries and companies also increased which focused on utilizing the internet to function.
- Business to Consumer or B2C
A transaction made between a business and an individual falls under B2C. This is considered the most common business model which is present not only through e-commerce but in physical stores as well.
- Business to Business or B2B
This model is where partnerships are found, wherein two different businesses come into an agreement to provide one another with the products or services that they need or lack. For example, a stationery business supplying a printing company.
- Consumer to Business or C2B
With C2B, the roles are reversed compared to B2C. Instead, an individual provides certain services to a company in order to help them increase the profit they are making. A great example of this is freelance work, wherein a freelancer isnt tied down to a single company to work with.
- Consumer to Consumer or C2C
C2C involves two individuals, who are not under a company or shop, make transactions with each other. This is another common model especially in different marketplaces such as eBay.
- Government to Business or G2B
The G2B business model involves the government providing information or services to a company. An example is a school receiving e-learning classes sponsored by the government.
- Business to Government or B2G
On the other hand, B2G is where businesses provide the products or services to the government. This can vary on what the government needs, but is almost similar to B2B models.
- Consumer to Government or C2G
The C2G is more of a practice wherein citizens pay taxes when they make certain purchases. The idea of doing so is considered under a consumer to government model.
Existing E-Commerce Platforms
There are also various online platforms that are made solely to allow people to sell or purchase, such as Amazon, this is a widely known e-commerce platform that is mostly used by bigger companies. Alibaba is second larger worldwide, this platform is great for people looking for a business that can supply them with different products and services. Shopee platform is famous in the Asian market, in this platform, there are a lot of small business owners as well as individuals who make their own listings. Another example is Lazada, this is similar to shopee, however there is a fair balance between small and big businesses available. Some businesses using eBay as well, here is where most consumers make individual listings of their products or services.
To the start-up company who want to start a new e-commerce project, we strongly suggest for you to look for a professional consulting to discuss your ideas, how to implement and develop the right strategy in this business industry. Some elements need to be considered such as search engine optimization (SEO), promotion tools, market strategy, branding, or project tracking. With the right tools, we believed your ecommerce business will grow and you will achieve your income goals.