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What is E commerce

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.

Whereas e-business refers to all aspects of operating an online business, ecommerce refers specifically to the transaction of goods and services.

The history of ecommerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web—or “ecommerce” as we commonly know it today.

Since then, ecommerce has evolved to make products easier to discover and purchase through online retailers and marketplaces.  Independent freelancers, small businesses, and large corporations have all benefited from ecommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail.

Global retail ecommerce sales are projected to reach $27 trillion by 2020.

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What is M-commerce

M-commerce (mobile commerce) is the buying and selling of goods and services through wireless handheld devices such as smartphones and tablets. As a form of e-commerce, m-commerce enables users to access online shopping platforms without needing to use a desktop computer. Examples of m-commerce include   in-app purchasing, mobile banking, virtual marketplace apps like the Amazon mobile app or a digital wallet such as Apple Pay, Android Pay and Samsung Pay.

Over time, content delivery over wireless devices has become faster, more secure and scalable. As of  2017 the use of m-commerce accounted for 34.5% of e-commerce sales. The industries affected most by m-commerce include:

Financial services, which includes mobile banking (when customers use their handheld devices to access their accounts and pay their bills) as well as brokerage services, in which stock quotes can be displayed and trading conducted from the same handheld device.

Telecommunications, in which service changes, bill payment  and account reviews can all be performed from the same handheld device.

Service and retail, as consumers are given the ability to place and pay for orders on-the-fly.

Information services, which include the delivery of financial news, sports figures and traffic updates to a single mobile device.

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What is M-COMMERCE (Mobile Commerce) | Benefits of M-COMMERCE in (hindi) | M-Commerce kya hai ?

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Electronic commerce can be classified into four main categories. The basis for this simple classification is the parties that are involved in the transactions. So the four basic electronic commerce models are as follows,

1. Business to Business

This is Business to Business transactions. Here the companies are doing business with each other. The final consumer is not involved. So the online transactions only involve the manufacturers, wholesalers, retailers etc.

2. Business to Consumer

Business to Consumer. Here the company will sell their goods and/or services directly to the consumer. The consumer can browse their websites and look at products, pictures, read reviews. Then they place their order and the company ships the goods directly to them. Popular examples are Amazon, Flipkart, Jabong etc.

3. Consumer to Consumer

Consumer to consumer, where the consumers are in direct contact with each other. No company is involved. It helps people sell their personal goods and assets directly to an interested party. Usually, goods traded are cars, bikes, electronics etc. OLX, Quikr etc follow this model.

4. Consumer to Business

This is the reverse of B2C, it is a consumer to business. So the consumer provides a good or some service to the company. Say for example an IT freelancer who demos and sells his software to a company. This would be a C2B transaction.

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difference between E-commerce and M-commerce

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difference between E-commerce and M-commerce

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Advantages and disadvantages of M-commerce

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Advantages and disadvantages of M-commerce

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Advantages

Can buy or purchase online tickets for Movies, Aircraft or any Event.

Mobile Purchase

Marketing and Advertising

Mobile Auctions

The Mobile Entertainment

Mobile Financial Services

Location and Search Service

No need to use big large size computers

Provides you more convenience, speed, and credibility

24 hour you can keep in contact with the world

disadvantages

It requires technology access.

It offers a lack of personal touch.

It requires the app or website to be working.

It requires faith in the product.

It is a highly competitive marketplace.

It must have fast services available at all times.

It requires you to ship products to consumers.

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advantages and disadvantages of E-commerce

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advantages and disadvantages of E-commerce

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Advantages

Faster buying/selling procedure, as well as easy to find products.

Buying/selling 24/7.

More reach to customers, there is no theoretical geographic limitations.

Low operational costs and better quality of services.

No need of physical company set-ups.

Easy to start and manage a business.

Customers can easily select products from different providers without moving around physically.

Disadvantages

Any one, good or bad, can easily start a business. And there are many bad sites which eat up customers’ money.

There is no guarantee of product quality.

Mechanical failures can cause unpredictable effects on the total processes.

As there is minimum chance of direct customer to company interactions, customer loyalty is always on a check.

There are many hackers who look for opportunities, and thus an ecommerce site, service, payment gateways, all are always prone to attack.