If you are thinking about starting a business where you sell your products online, then you’ll be joining the millions of entrepreneurs who have carved out a niche in the world of e-commerce.
E-commerce, short for electronic commerce refers to the purchase and sale of goods and/or services via electronic channels such as the Internet.
Like any digital technology, e-commerce has evolved over the years. As mobile devices became more popular, mobile commerce has become its own market. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data
The Seven Types of e-Commerce Business
This type of an e-commerce business is targeted mainly at the section of the population that are tech-savvy. Designed especially for those who live in the best of the virtual and the real world. Online only, ensures products can be seen and marketed only online.
Examples: asos.com, lookfantastic.com, Made.com
This type of an e-commerce business is used to design a transactional website plus a printed catalogue, and possibly one or two physical stores. Giving its customers an access to not only the “idea” of the product but also a physical copy of it.
Examples: Boden, House of Bath, Lands End
Big Bricks and Clicks
In this type of an e-commerce business, efforts have been made to boost both online as well as offline sales by investing in lots of physical stores and an e-Commerce website.
Example: Argos, Boots, Topshop
Boutique Bricks and Clicks
This type of an e-commerce business has just one or two physical stores and promotes more online sales by investing in an e-Commerce website.
Example: Boswells, Burford Needlecraft, Brownsfashion.com
This type of an e-commerce business, as the name suggests, simply takes a “piggyback ride” on the shoulders of the major E-commerce websites today, such as Amazon or eBay to market the products, with no website of their own.
Example: Amazon, eBay
This type of an e-commerce business is one where sellers of similar products come together to market more easily, usually retaining their own blog or e-Commerce site elsewhere too.
Example: The craft world (Etsy, Folksy), Hotels (hotels.com,laterooms.com), jewellery (Boticca), and Books (abebooks.co.uk)
This type of an e-commerce business is by far the most complex and most difficult to achieve and run, by using multiple shops, catalogues, and e-Commerce websites.
Example: Bravissimo, Crew Clothing, Next
DID YOU KNOW?
i) We know you’d vouch for this one too!
71% of shoppers believe they will get a better deal online than in stores
ii) Age of the Search Engines
44% of all shoppers begin by using a search engine
iii) Growth without growth supplements!
According to our recent survey, In the USA the e-commerce annual growth rate is nearly 17% per year!
iv) Breaking boundaries by breaking e-commerce records!