What is eCommerce? – Definition, Types, Advantages 2018!

In this age of digital expansion of the Internet, the concept of e-commerce, which offers many advantages, has become popular. For businessmen, it is possible to avoid the inconvenience of travel to meet their partners and customers, and they can reduce the time and money to promote their goods and display them on the market. Customers do not have to move a lot to get what they want, stand in a long queue, or even use traditional money. It’s enough to have a computer, an Internet browser, and an Internet connection.

E-commerce, as some think, is not about buying and selling goods and services over the Internet. E-commerce – since its inception – has always included the processing of sales and purchase movements and the transmission of money via the Internet, There is much more to it. It has expanded to include the buying and selling of the same information along with goods and services, and e-commerce does not stop there. The prospects for e-commerce for companies, institutions and individuals do not stop at the limit .

7 Figure Cycle
7 Figure Cycle

What is e-commerce?

E-commerce 7 Figure Cycle is a system that allows online movements of goods and services and information, as well as electronic movements that support the generation of returns such as the promotion of demand for those goods, services and information, as e-commerce offers online sales support operations and customer service. Electronic commerce can be likened to an electronic marketplace where sellers (suppliers, companies or shops), intermediaries and buyers communicate, offering products and services in virtual or digital form, and paying for electronic money.

E-commerce activities can be divided into two main parts:

– Business-to-consumer e-commerce, referred to as B2C, which represents trade between companies on the one hand and individual customers on the other.

– Business-to-business e-commerce, referred to as the B2B symbol, which represents e-commerce between companies.

What are the benefits of e-commerce?

E-commerce offers many advantages that companies can benefit greatly, including but not limited to:

More effective marketing, and more profits: The adoption of companies in the Internet in marketing, allows them to display their products and services in different parts of the world without interruption – all day and all day of the year – which gives these companies a greater opportunity to profit as well as reach more customers .

Reducing company expenses: Preparing and maintaining e-commerce sites is more economical than retail or office maintenance. Companies do not need to spend heavily on promotional items, or install expensive equipment for customer service. The 7 Figure Cycle company does not seem to need to use a large number of staff to carry out inventory and administrative work. Online databases maintain the date of sales and customer names. This enables a single person to retrieve information in the database to check the dates of sales.

Communicate effectively with partners and customers: Fold e-commerce distances and cross borders, providing an effective way to share information with partners. E-commerce provides a good opportunity for companies to benefit from the goods and services provided by other companies (ie suppliers), called e-commerce from companies to businesses.

what benefits do the customers reap from e-commerce?

Saving time and effort: e-market is open continuously (all day and without any holiday), and customers do not need to travel or wait in line to buy a particular product, nor do they have to move the product home. Buying a product does not require more than clicking the product, entering some information about the credit card or transferring the amount from the customer’s account to the beneficiary’s account through a local bank. In addition to credit cards there are many appropriate payment systems such as electronic money (E-money).

Choice of choice: 7 Figure Cycle Review E-commerce offers a great opportunity to visit various types of shops online, and in addition, it provides customers with full product information. And it is all done without any pressure from vendors.

Price reduction: Many online companies sell goods at lower prices compared to traditional stores, because online shopping saves a lot of the costs spent in regular shopping, which is in the interest of customers.

User satisfaction: The Internet provides direct interactive communication, enabling e-market companies to take advantage of these features to respond to customer inquiries quickly, providing better customer service and satisfaction.