E-commerce Emerging trend in Business Analytics
What is E-commerce/business? E-commerce is Transacting business electronically. Business conducted with Telecommunications and Telecommunications tools Selling online with or through website or by means of emails.Example :- Ford Motor corporation
E-commerce/Business• Need Interactive platform: E-commerce creates an interactive platform so that customers to leave comments or ask queries about your products or services. Easy navigation: Customers will be able to get information about various products and services. Easy payment mode: when customer wants to purchase a product.Obviously,he wants the payment process as quick and simple as possible. Ample options for the mode of payment can be provided to customer.With this payment options ,online purchases will not be a difficult task for customers.• Goal Increase market share: To increase market share of the business as well as markets where we can sell products. Advertising: E-commerce aims to get maximum possible customers. Sales growth: E-Business tries to make as many sales as possible.
Types of e-commerce There are a number of different types of E-commerce. Five types of e-commerce: B2B-Business to business It is the largest form of E-commerce. It is also known as E-biz or sometimes E-tailing. B2B is the type of E-commerce between Businesses. Buyer and Seller are two entities. For example: Dell computer corporation. B2C-Business to consumers Indirect trade between the company and consumers. Direct selling through online. For example: Home shop 18,Star CJ etc.
C2B –Consumer to business: Customer requests a specific service from business. For example: : online advertisement by AMAZON and GOOGLE B2E-Business to employee: It is also known as ‘INTRANET’. Accessible within the organization’s network. Access is restricted by sign in id and password. For example: Century link Business telecommunications,US. M-commerce-Mobile commerce: Transactions are carried out through mobile phone. Involves the changes of rights and goods to utilize goods and related services. For example: Money transfer services provided by AIRTEL.
C2C –consumer to cunsumer: Direct dealing of goods or services amongst people. Auction sites are mostly used in c2c. Some consumer lists the item for sale with site. Other consumers access the site and place bids on the items. For example: OLX.in
Advantages and Disadvantages of E-commerce Advantages of E-commerce: Lower transaction costs-automization reduces the transaction costs Global location-online store can be accessed from any corner of the world. Business hours 24/7-onine store remains open 24/7 Easy shelves arrangement-all products are available to users. Convenient shopping facility for the customers. More customer interactions. Cross sales feature increases number of purchases per transactions.
Disadvantages of E-commerce: Lack of personal touch. Delays in goods-takes longer to deliever goods Many goods cannot be purchased online e.g. perishable and odd-sized Doesn’t allow trial of products before purchase. Insecure to make payments because you need to provide credit card details and mailing information.