4.8 E-commerce

E commerce

: buying and selling of goods and services on the Internet.

Consumer

to (C2C): business model based on e- commerce that creates a facility that allows to trade with each other (sometimes known as customer to customer)

E-commerce

buying and selling of goods and services on the Internet

Business to business (B2B)

transactions conducted directly between a supplying a business and a purchasing business

Business to consumer (B2C)

transactions conducted directly between a company and consumers who are the end-users of its products/services

Consumer to consumer (C2C)

business model based on e-commerce that creates a facility that allows consumers to trade with each other (sometimes known as customer to customer)

E-commerce

Buying and selling of goods and services on the Internet

The rapid growth of e-commerce is a result of …

Global reach; ubiquity; interactivity; personalization; information richness; universal standards

Business to business (B2B)

Transactions conducted directly between a supplying a business and a purchasing business

Business to consumer (B2C)

Transactions conducted directly between a company and consumers who are the end-users of its products/services

Consumer to consumer (C2C)

Business model based on e-commerce that creates a facility that allows consumers to trade with each other
(sometimes known as customer to customer)

Global reach

Internet technology reaches across national boundaries and opens up global markets with potentially billions of consumers. Consumers now have access to product details sold by businesses beyond local/national boundaries

Ubiquity

The access to markets and consumer access to business is available at all times and (virtually) all locations. Shopping can take place anywhere and customer convenience increased

Interactivity

Internet allows for two-way communication between the business and the customer. The growth in the use of social media is further enhancing this

Personalization

Marketing messages can now be targeted at individual consumers based on their previous spending habits, tastes and interests

Information richness

Complex and detailed promotional messages can be delivered by Internet via video, audio and text messages

Universal standards

Ease of access to Internet for both businesses and customers owing to the existence of a cheap universal internet system