With the advent of e-Commerce, or online business there have been a number of streamlining effects on the method that companies, and individuals can conduct business.
If company chooses to create a web page listing its products or services no longer is a store needed to showcase your wares, or a staff needed to man the office. If the company deals in physical inventory there will still need to be a place to store it and process online orders but a large portion of overhead can be eliminated. An example of a company like this would be Amazon.com, which doesn't have any physical stores. If a company deals entirely in products of the digital sort, like say iTunes, then there is no storage space needed at all. Simply a room somewhere with a computer, or lots of computers, and a staff to oversee them.
There are a proliferation of small businesses online selling everything from T-Shirts to electronic media. Conceivably one such as the T-Shirt selling website could be run by a man in his Pyjamas surrounded by heaps of T-Shirts busily processing and mailing T-Shirts.
ONLINE PAYMENT SERVICES;
Online payment services are services that allow people to transfer money and pay bills via the Internet. These transactions can be provided to a local business or online businesses. PayPal (which is owned by EBay) is a commonly used service that people can use at various locations. This service can be used online to make purchases or transfer money. Most banks and businesses also offer online payment services. Below is a sample screen for PayPal (an online payment service)
There are many different types of online payment forms. there is digital cash, pay pal, digital wallet, digital gift certificates, gift cards, and coupons among many more. Digital payment is much more popular and the popularity is growing and growing. The necessity for this is big. Digital payment is used because it is much more secure than paying with a credit card, where some one can copy and use your information, the new forms of online payments offer you the option to buy things remotely without having to worry about your information being compromised or re-used.
E-Commerce in a nutshell
The world or e-commerce includes online retailer and wholesalers and all other financial transactions that happen online. The e-commerce has several business models the most common are the business to consumer also known as B2C this can be an online retailer selling to the consumer. In addition the business to business or B2B, this is typically a business that offers business solutions for other business. And there is also the consumer to consumer or C2C. For detail information see each section for B2B, B2C, C2C.
For the Consumers
Benefits of e-commerce for customers are convenience (don't need to leave your house or work to shop), easier comparison shopping (there are many sites you can browse looking for one specific thing, or use shopping bots to do it for you. It would take multiple trips to different stores to check the prices on the same item if there were no e-commerce sites), a higher degree of selection (not limited by what the brick-and-mortar stores have in stock), and the ability to customize products easier (again, not limited by the supply in the brick-and-mortar store, so there are a lot more options to choose from). Another benefit of e-commerce is the ability to shop 24/7. You would not be able to shop at a brick-and-mortar store at one in the morning, but you can buy things off of their websites at that time from the comfort of your home.
There are many different types of online payment forms. there is digital cash, pay pal, digital wallet, digital gift certificates, gift cards, and coupons among many more. Digital payment is much more popular and the popularity is growing and growing. The necessity for this is big. Digital payment is used because it is much more secure than paying with a credit card, where some one can copy and use your information, the new forms of online payments offer you the option to buy things remotely without having to worry about your information being compromised or re-used.
The advantages of e-commerce for a consumer are numerous. Being able to shop from just about anywhere by using a computer or even your phone is very advantageous for anyone. It could be full-time working mother with children who might only have the early morning or late evening to shop or someone who prefers to stay in their warm home instead of venturing out in a snowstorm to purchase items that they might want or need. Using the internet is also beneficial as you could have more than one website open at one time to check availability and price as opposed to having to go from store to store.
For the Businesses
E-commerce business models consist of four different types. First business-to-consumer (B2C). This is when businesses sell goods or services to individual consumers. Second there is business-to-business (B2B). This includes any type of e-commerce transactions that take place between two businesses. The third one is consumer-to-consumer (C2C), or person-to-person. This involves individuals that are selling directly to other individuals. Finally there is business-to-government (B2G). This includes transactions between businesses and local, state, and federal governments.
The businesses choosing to do business online have a series of advantages when engaging in e-commerce, too. One of the advantages is a reduced cost of doing the business as some of the expenses that are present with the brick and mortar businesses (such as rent) are being eliminated. The accessibility and convenience of online transactions for the customers is leading to increased customer satisfaction which is another benefit. The business gains access to a worldwide market instead of being limited to a certain geographical area which gives it the advantage of a broader customer base and potential increase in sales.