FAS10-A2. How to create an e-commerce

TIMING/LENGTH (IN MINUTES): 20’

DESCRIPTION

In this activity you will know about e-commerce, its different models and how to create your e-commerce business from scratch.

DEVELOPMENT/ METHODOLOGY

Brainstorming

What do we mean by e-commerce? How many types of e-commerce models do you know?

Answer shortly in 5 minutes.

LEARN

“The standard definition of E-commerce is a commercial transaction which is happening over the internet. Online stores like Amazon, Flipkart, Shopify, Myntra, Ebay, Quikr, Olx are examples of E-commerce websites.

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.

Whereas e-business refers to all aspects of operating an online business, ecommerce refers specifically to the transaction of goods and services.

There are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and businesses.

1. Business to Consumer (B2C):

When a business sells a good or service to an individual consumer (e.g. You buy a pair of shoes from an online retailer).

2. Business to Business (B2B):

When a business sells a good or service to another business (e.g. A business sells software-as-a-service for other businesses to use)

3. Consumer to Consumer (C2C):

When a consumer sells a good or service to another consumer (e.g. You sell your old furniture on eBay to another consumer).

4. Consumer to Business (C2B):

When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).”

Read more about Ecommerce here: https://www.toppr.com/guides/business-environment/emerging-trends-in-business/electronic-commerce/ and here:

https://www.shopify.com/encyclopedia/what-is-ecommerce

DO

Think about what would you do in order to create your successful e-commerce business from scratch and of course your business website. Organise your thoughts into a plan. (10 minutes)

You can get inspired from here: https://www.ecommerceceo.com/start-ecommerce-business/