Web commerce, also known as e-commerce or online commerce, is the buying and selling of goods and services through the internet. E-commerce allows customers to do business transactions with-in an online platform without having to meet face-to-face.
Generally, there are three types of web commerce:
Business to Business (B2B): This type of web commerce involves transactions between two or more businesses over the internet. Businesses use software, such as virtual supply chains, to facilitate these transactions.
Business to Consumer (B2C): This type of web commerce involves transactions between businesses and individual consumers. B2C activities include online shopping, e-banking and web-based stock trading.
Consumer to Consumer (C2C): This type of web commerce involves transactions between individuals in online marketplaces. Examples of C2C commerce include online auctions, classified ads and online ticketing services.
Overall, web commerce has become an essential part of the modern economy. It has allowed businesses to expand their market reach across the globe, while providing customers with more convenience and savings.
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