Ecommerce or electronic commerce is a type of business that operates on the internet. Small to large businesses create Ecommerce stores to market, buy, and sell products to online consumers or other businesses.
They use electronic technologies, such as mobile applications, payment gateways, supply chains, internet marketing and other tools, to create a successful online business.
Ecommerce functions in four major market segments. They are:
- Business to Business (B2B) – E-Businesses that sell products and services to each other.
- Business to Consumer (B2C) – E-Businesses that sell to the consumer.
- Consumer to Consumer (C2C) – Transactions between consumers.
- Consumer to Business (C2B) – Consumers that sell to businesses
Definition of "Ecommerce" by Chat GPT: Ecommerce refers to the buying and selling of goods or services over the internet. It involves online transactions where customers can browse, select, and purchase products from online stores using electronic payment methods. Ecommerce has become increasingly popular in recent years due to the convenience it offers to both buyers and sellers.« Back to Glossary Index