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E-Commerce

E-commerce (EC), an abbreviation for electronic commerce, is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.

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

  • 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).
  • 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)
  • 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).
  • 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).
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