The term eCommerce encompasses all the activities of buying and selling online. E-commerce is the process whereby people or companies buy and sell goods and services with the use of the internet. Ecommerce has come a long way over the years and because of the convenience it offers, it is growing in popularity.
Several brick-and-mortar stores have moved their operations online because of the vast sea of opportunities that eCommerce offers. All you need to set up an eCommerce business is a tablet, computer, or smartphone powered by an internet connection.
Types of eCommerce businesses
There are different types of eCommerce business models – B2B, B2C, C2C, C2B.
B2B – This eCommerce model represents the transactions taking place between two businesses. This is when a business sells goods and services to another business.
B2C – This model refers to the process whereby transactions take place between a business enterprise and a consumer. The classic examples of B2C are Amazon, Walmart, etc.
C2C – This business model stands for transactions that take place between consumers. One consumer sells goods or services to another. Example – Etsy.
Benefits of eCommerce
Ecommerce’s rise to popularity can be attributed to the plethora of benefits it offers consumers and businesses alike.
Ecommerce enables you to make purchases without having to spend any time standing in line to bill your products or look for parking space. All it takes is a few clicks to choose your products, make the payment online and have it delivered to your doorstep. An eCommerce shop is open to customers round-the-clock for customers to shop at their convenience.
- Access to a larger target audience
E-commerce stores are not bound by geographic limitations. They are of no consequence while conducting business online via eCommerce platforms. One can sell items to shoppers in any corner of the world with the use of multiple online touchpoints to reach consumers in various ways, including social media and other digital forums.
- Access to a larger target audience
As long as a customer has access to an internet connection and a device, they can shop from anywhere globally.
Ecommerce offers products at prices that are more economical than those of classic, brick and mortar stores. This is due to the fact that people who have online stores don’t need a physical storefront.
All they need is a warehouse and not more than two or three people to monitor the business of the eCommerce website. Thus, online sellers have lower costs to bear than physical store owners and that is how they can afford to put up their products and services for sale at lower prices along with low shipping rates for delivery.
- Better collection
Online stores also have a wider range of goods and services when compared to physical stores. Ecommerce sites usually boast a diverse range of products in different sizes, colors, styles, etc which adds on as another important reason to buy online.
- Better collection
Top eCommerce websites
Some of the most popular eCommerce websites today are Amazon, eBay, Walmart, JD, Alibaba, AliExpress, JD.com, Rakuten, Etsy, Target, Flipkart, and many more.
Amazon is the largest eCommerce website that started off on a humble note by selling books. The company then began to expand and now sells a large variety of products ranging from clothing and accessories to electronic devices and much more.
The Amazon Marketplace is a platform for sellers all over the world to list their products and make them available to consumers for purchase. Selling on Amazon calls for expertise coupled with data analytics which can be provided by a 3P seller platform like SellerApp. Amazon also offers other services like cloud computing (Amazon Web Services AWS) and online streaming.
Check out this video to know more Amazon Selling Tips & Tricks For E-commerce Businesses:
Alibaba and AliExpress
Alibaba and AliExpress are both eCommerce platforms. Alibaba caters to B2B transactions, while AliExpress caters to the B2C model and is open to consumers. Alibaba is the source from where businesses purchase large quantities of products directly from manufacturers at wholesale prices. AliExpress offers products at competitive retail prices with no minimum order requirements for individual persons to buy.
Walmart is renowned for its large physical stores but they also have a significant online presence. Walmart.com has plenty of categories comprising everything ranging from fashion to electronics and much more which makes it an effective sales channel for sellers of all sizes in the US. Here’s a resourceful blog on how to sell on the Walmart marketplace with clear instructions and insights.
eBay is another shopping site making its way to the Top 10 and is best known for its auctions and C2C sales. It’s also used by online merchants as a sales channel. eBay has its operations in many different countries but you can use it to search for products locally available in your area by providing the zip code. You can also search for products available nationally or internationally. eBay has simplified the process of selling on its site with a simpler structure for calculating the fee for products sold.
Rakuten is a Japanese multinational e-commerce corporation. Rakuten.com is on par with other large eCommerce websites and sells products belonging to all categories – household items, electronics, clothing, etc. Rakuten also offers cloud computing and OTT in a similar way to Amazon.
The website allows sellers to customize and set up virtual storefronts that allow shoppers to browse and connect online while not straying away from providing high quality, unique merchandise, and a pleasant shopping experience. Sellers are allowed to customize their storefront’s layouts, pictures, deals, and promotions, along with direct communication with customers.
The eCommerce industry is ever-evolving and the big players in the game are always adopting the latest technological trends to grow their business. The names mentioned above are some of the websites that are to be reckoned with owing to their success in eCommerce. Day by day, more and more people are joining the eCommerce revolution and it is exciting to what the future will hold for consumers and businesses alike.
Arishekar N, Sr. Director of Marketing & Growth at SellerApp, is a specialist in digital marketing, in addition to website keyword optimization for search engines. His areas of expertise include enhancing the organic & paid ranking of web pages on search engines with innovative SEO & SEM strategies and online promotions.