ecommerce

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• Ecommerce or electronic commerce are basically
  the transactions conducted through the internet.
  Every time individuals/companies buy or sell
  products and services online they engage in
  ecommerce. The term ecommerce also incorporates
  activities like online auctions, internet
  banking, payment gateways, online ticketing and
  more.
• How ecommerce came to be?
• The first ecommerce transaction was made in 1994
  by a guy named Phil Brandenberger when he used
  his Mastercard to buy Stings Ten Summoners
  Tales via the internet for 12.48. This
  particular transaction enlightened the world that
  the internet is open for ecommerce
  transactions. For the first time encryption
  technology was used to commence an online
  purchase.
• As a matter of fact, ecommerce has grown
  manifolds ever since. The rise of ecommerce
  giants like Amazon and Alibaba in the mid 90s
  changed the face of the retail industry. They
  largely capitalized on the global internet
  penetration and digitalization that resulted in
  the decline in sales for many businesses.
• The growth of ecommerce has also resulted in the
  migration of the retail workforce. The U.S Bureau
  of Labour Statistics has stated that from 1997 to
  2016, employment in the ecommerce sector almost
  increased by a whopping 80 and predicted that
  the number of ecommerce jobs will keep on
  increasing and reach around 450,000 in the US by
  2026. Hence, its evident that the highly
  competitive ecommerce sector will keep on
  transforming the retail industry and influence
  customers behaviour. However, starting an
  ebusiness nowadays seems like a great idea for
  various savvy entrepreneurs. Now let us find out
  more about the ecommerce industry how it came
  about, what types of merchants exist, and what
  platforms allow online selling for different
  countries. We will also shed light on some
  ecommerce success stories and loopholes to give
  you an idea of what it takes to succeed in this
  ecommerce industry.
• So, if you wish to begin an ecommerce website or
  youre already running an online store and just
  want to dive into ecommerce industry, youll find
  lots of nuggets in this blog.
• The Significant Ecommerce Statistics for 2022
• If you are willing to do online business, its
  vital to be aware of the trending ecommerce
  statistics. Also, experts predict that retail
  ecommerce sales will reach 4.13 trillion in
  2022.
• 95 of all purchases will be by ecommerce by
  2045.
• The worlds fastest-growing ecommerce market is
  China with an estimated revenue of
• 672 billion in 2017.
• The US has the highest ecommerce penetration
  rates, with 80 of all internet users making at
  least one purchase.

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• 93 of online buyers think that the visual
  appearance of an online store plays a vital role
  in their purchasing decisions.
• 80 of online buyers dont buy from ecommerce
  sites that have complex return policies.
• 85 of all products purchased through social
  media platforms come from Facebook.
• Mobile ecommerce retail sales will reach 3.5
  trillion by 2022.
• 42 of online shoppers prefer to pay with a
  credit card in 2022.
• Online stores with an active presence on social
  media platforms have 32 more sales.
• 55 of all online buyers have an impact on their
  buying decisions due to reviews.

Types of Ecommerce Businesses There are various
ways to classify ecommerce websites. These can be
categorized according to the products or services
that they sell, the parties that they transact
with, or even the platforms on which they
operate. Classifying ecommerce businesses
according to what they sell Lets start with the
products and services sold online. Heres a list
of ecommerce merchants according to what they
sell. 1. Physical Goods Seller
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• These are typical online retailers having
  clothing, furniture, tools, accessories, and
  other physical goods. Potential customers can buy
  through online stores by visiting the stores
  websites, adding items in their shopping cart,
  and making a purchase.
• Once the buyer makes a purchase, the store
  delivers the products at the doorstep while there
  are some online stores where buyers make an
  online purchase but go to the store themselves to
  pick up the products. Some of its examples are
  Warby Parker, Bonobos, Zappos, etc.
• Service-based e-tailers
• As a matter of fact, services can also be
  purchased online. Everytime you hire consultants,
  educators freelancers via online platforms,
  youre dealing with service-based e-tailers. The
  service buying process depends on the merchant.
  Some allow you to buy their services directly
  from their website like Fiverr.com, a freelance
  marketplace. People who want to buy services from
  Fiverr must place an order on the website before
  the seller delivers their services.
• While some service providers ask you to get in
  touch with them to determine your needs. Like
  Blue Fountain Media creates digital strategies
  for large clients, asks clients to fill in an
  online form first where they should describe
  their business needs.
• Digital products
• E-transactions take place by the internet and the
  products are called e-goods. Some examples of
  retailers that sell digital products are Coursera
  and Audiobooks
• Ecommerce on the Basis Of Parties Involved
• Business to consumer (B2C)
• In B2C ecommerce model refers to a transaction
  between businesses and individuals. B2C ecommerce
  is the most common among physical and online
  retailers. Some of its examples are Nike, Macys,
  IKEA, and Netflix.

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• Like Freelancer, a platform which connects remote
  workers and companies.
• Consumer to consumer (C2C)
• C2C ecommerce occurs when two parties are
  consumers who trade with one another. Some of its
  examples are eBay and Craigslist, these are
  online marketplaces where individuals buy and
  sell products.
• Government to business (G2B)
• The G2B ecommerce models occur when the
  government provides companies with goods and
  services. Government procurement, data centres,
  and e-learning are all examples of G2B ecommerce.
• Business to government (B2G)
• The B2G model refers to companies and businesses
  that provide goods and services for the
  government. For example, OpenGov is a company
  that offers governments cloud-based platforms for
  communication, reporting, and budgeting.
• Consumer to government (C2G)
• Every time consumers pay taxes, health insurance,
  electronic bills, or request information
  concerning the public sector, theyre engaging in
  C2G.

• What are the best ecommerce platforms?
• Retailers can build online stores where they
  display their products or services or both.
  Having an online storefront is one of the best
  straightforward ways to run an ecommerce
  business. There are a number of ecommerce
  solutions and choosing the right fit for your
  business depends on your budget, preferences, and
  requirements. Below weve listed the best
  ecommerce solutions currently on the market.
• Shopify
• Shopify powers over 2,921,565 websites around the
  globe.

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• Shopify has 21 of the ecommerce market share.
• Shopify allows users to build effective online
  stores and scale their business. Having a user-
  friendly and tons of templates, this platform
  offers 100 payment gateways, flexible shipping
  rates, automatic taxes, etc. Shopify enables
  social media integrations, is packed with
  built-in SEO features.
• Best for Small businesses looking for an
  all-in-one ecommerce solution.
• Magento
• Magento has powered over 772,000 websites around
  the world till date.
• There are over 5,900 extensions that integrate
  with Magento.
• Magento is a very flexible ecommerce solution
  used by medium sized businesses. It has robust
  features which allow retailers to personalize all
  aspects of their online store like custom
  templates, extensions and modules.
• Best for Brands looking for a highly
  customizable ecommerce solution.
• Salesforce
• As of 2020, the platform has 150,000 active
  users.
• Salesforce was awarded multiple times with
  prestigious recognitions like the GSMA Glomo
  Award Best Mobile App for Business, the 2017
  DMN Awards, and the AOTMP Mobility Awards,
  more.
• One of Salesforces strengths is that its built
  with omnichannel retailers in mind with features
  that allow merchants to easily sell across
  physical and digital storefronts.

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• online store. Youll get all vital features
  including unlimited products, unrestricted
  customization, order management, and free
  shipping.
• Best for Small businesses that have a website
  powered by WordPress.
• BigCommerce
• BigCommerce powers over 150,000 websites around
  the world.
• Pandora, a popular jewellery retailer, is built
  with BigCommerce.
• BigCommerce is a popular ecommerce solution that
  provides online retailers with a robust online
  store builder for creating a fully functional
  online store and selling numous products. One
  thing that is unique about it is that it has
  features like shipping, reporting, and product
  and order management.
• Best for Growing businesses that want to
  leverage on multi-channel selling.
• Volusion
• The total amount of purchases made through stores
  built with Volusion reached 13.8 million in 2018.
• There are over 11,000 websites powered by
  Volusion in 2020.
• Volusion allows merchants to create online
  stores, showcase their merchandise, and take
  payments all on one platform. Volusion comes with
  standard features like a site builder, shopping
  cart software, marketing tools, etc.Best for
  Small businesses in need of easy-to-use ecommerce
  platform.
• Compiled By Aarshi Sharma