E-COMMERCE: REVOLUTION IN MARKET

The ever changing technology has given a new meaning to the marketing of goods and services in which both buyer and seller do not even see one another but the transaction is performed through electronic media. Now the development of new and modern technologies has changed the transaction ideas, communication methods, internal building of relationships, and working of many organizations. E-Commerce concept is gaining its importance, where it is executing corporate transactions through electronic mode. This simply means using electronic mode to do transactions and exchanges relating to business.

In this concept the internet is the main source and way of performing the transactions. All the information related to goods and services can be found using this network. All the manufacturers and suppliers let their customer know about each and every detail of the product or the service they are offering, its price, ratings, quality, visual representation of the product etc. There are so many online websites and applications available to marketing, business apps, gaming apps, education related, training etc.

With the advent of this technology the meaning of business has changed and it broadened the concept of business. The different types of selling with the use of this media are:

  • B2B (Business to Business): under this type, selling is done by one manufacturer to the other trader, in India it is the most popular form of selling

  • B2C (Business to consumer) : under this the business sell to consumers directly, it includes all the products or services relating to grocery, clothing, books, fruits, medicines etc.

  • C2C (consumer to consumer): this chain of selling is followed by a consumer who wants to sell his own used items etc to other consumer. Applications like OLX etc are the example of that chain.

  • B2G( Business to government) : business is accountable to government for the taxes it pay and the income returns they file, now with the advent of technology all these transactions are performed through the internet only.

Block chains helps in more improvement and gaining confidence in e- commerce. Block chains helps in improving the old, outdated and traditional system and helps in increasing its efficiency. The main BLOCKCHAIN IN E- COMMERCE are discussed as follows:

  • Crypto currencies: this term is made as a design which will work as a mode of exchange in performing transactions. This concept gains its importance with the emerging trend of e- commerce.

  • Saving business from fraud: people plan to fraud in many ways but currently they are using bank cards to fraud with people.

  • Protecting the information of consumer: the block chain provide security of the data related to consumers, their likes dislikes, ratings, or other personal information uploaded online.

  • B2B Exchange system: Middleman helps in performing these transactions as it a ongoing continuous cycle of exchange

  • Simplified payments network: This BLOCKCHAIN COMPANY FOR ECOMMERCE helps in simplifying the payment transactions made on electronic media.

  • Decentralized outside boundary trade: exchange fees, rate of exchange and making efforts to reduce fraud are the main important points that are to be taken care of.

E-COMMERCE: REVOLUTION IN MARKET
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