What is E-commerce?
E-commerce is the use of electronic technology for buying and selling of goods over the internet. This include order placement and transactions online. For the past few years E-commerce industry is growing rapidly with more and more people getting aware of it. In 2019, retail e-commerce sales worldwide amounted to 3.53 trillion US dollars and e-retail revenues are projected to grow to 6.54 trillion US dollars in 2022. Shopping online over the years had took growth and is one of the most loved activity according to a source.
Types of E-commerce
- B2B is when a business sells it’s goods and services to other business
- B2C is when a business sells it products to a consumer
- C2C is when a consumer sells its products to consumers ( for e.g people exchange their used goods and services on OLX )
- C2B is when a consumer sell it’s products to a business ( for e.g influencers sell their service to promote a business )
E-commerce business all over the world has huge opportunities and growth. Amazon.com is the worlds biggest E-commerce platform in the world worth more than 1.7 trillion dollars, with Google, Facebook, Shopify and E-bay ranking simultaneously. In Pakistan, the e-commerce industry in 2018 was said to be worth Rs99. 3 billion which is a massive increase from Rs51. 8 billion in 2017, which equates to a yearly growth of 92 percent. People considering to make a career, this is the best option. This includes Retail, Wholesale, Drop shipping, Physical products, Digital Products and Services that can be sold.
E-commerce business can be done through Social Media but the most preferred one is through a website. A business should have a professional high-end Custom website, that includes businesses products offered and a trusted payment gateway system.
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