E-commerce: The future of market or commerce
What is E-commerce? E-commerce or Electronic-commerce refers to the exchange of goods and services online by apps and websites. E-commerce is the future of markets or commerce. E-commerce is one of the fastest-growing industries in the global economy. As an estimate, it increases 23% p er year. And it is projected to be $27 trillion industry by the end of this decade. How it rose up? According to the 2016 census 50% of the world"s population on the internet and it is increasing at a very high speed. As internet users are increasing the businesses are also coming on the internet. Types of E-commerce models It can be classified into four models 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 manufactures, wholesalers, retailers, etc. 2. Business to Consumer Business to Consum...