What is E-Commerce?
E-commerce refers to buying and selling goods or services via the internet, and the transfer of money and data to complete the sales. It’s also known as electronic commerce or internet commerce. Simply, commercial transactions are conducted electronically on the internet.
Logistics company plays an integral part of facilitating trade and commerce in international borders. Service providers who are involved in the storage, movement, as well as flow of goods in the market have been directly affected by the pandemic. And as we enter the phase of new normal, where everything drastically shifted due to the pandemic. Everyone must adjust and adapt accordingly. In terms of service providers, logistics companies have stepped up on the challenge of making the deliveries safer not just for vendors but of course for their consumers as well.
As we continue to evolve our social dealings, so did commerce and the ways we conduct it.
Below are the most common types of E-commerce:
· Business to Consumer (B2C) - This is the most popular type of e-commerce. It refers to the process of businesses selling products or services directly to consumers, with no middle person. It focuses on providing consumer goods to the general population or those who purchase their products and services directly from a retailer through the internet for personal use.
· Business to Business (B2B) - Unlike B2C where consumers buy products or services directly from a retailer, B2B conducts transactions from one company to another rather than to an individual.
· Direct to Consumer (D2C) - Direct to consumer or Also known as over-the-counter (OTC) is the newest model of e-commerce. This refers to the brand owners selling their product directly to the end-users without going through any middle man or third parties like retailers or wholesalers.
· Consumer to Consumer (C2C) - While B2B refers to transactions between two businesses; C2C allows individual users to conduct transactions privately. Where they were able to buy and sell directly to each other with the use of the internet.
· Consumer to Business (C2B) - Consumer to business is like an inverted type of business to the buyer or B2C model, where it works the other way around from which an individual lends their services or products to a business organisation.
E-commerce builds your relationship whether between businesses, businesses to consumers or just between individuals. One of the major impacts of Covid-19 coerced the logistics companies to expand not only their product and services but as well as their connections and association with the other supply chains. Some companies that postponed or cancelled significant business with their smaller vendors have been surprised that their place in line has been taken by others. This teaches vendors to diversify to other industries that continued and stayed to use their services during the earlier stages of the pandemic. This is why it is of vital importance to build your relationship not with just your customers but as well as with the vendors, large or small within the industry.