E-Commerce: An Amazing Digital Marketplace FOR 2022

E-Commerce: Digital Marketplace

E-commerce or electronic commerce is buying and selling goods, products, and services on an online or internet platform. In times of Covid-19, it is no surprise that the e-commerce industry is booming and flourishing more than ever. People refrain from going out frequently in concern of their and their family’s safety, it becomes convenient for them to place an order of products and services from the comfort of their home using any of the E-commerce platforms.


As seen that many of the people of the civilization have lost their jobs in these trying times, so it is not shocking that many of us are trying our hands at E-commerce companies mentioned this is among the few businesses and industries that are still burgeoning without a doubt.

Transaction of funds, finances, and data is also a part of the E-commerce occupation. The business transactions are done in four different ways:

  • Business to Business, B2B- Business to Business E-commerce transaction doesn’t involve the consumer, it is the trading of goods, services, and data between businesses via an online sales portal. It generally occurs between wholesalers, retailers, and manufacturers.
  • Consumer to Business, C2B- Consumer to Business abbreviated as C2B is the electronic commerce business between consumers and companies, the consumer offers his or her services to the company like IT freelancers or freelance graphic designers or photographers selling their pictures. 
  • Consumer to Consumer, C2C- The type of E-commerce transaction where both the consumers are involved, no company is involved, people can sell their goods to each other directly, one such example is Olx.
  • Business to Consumer, B2C- Businesses can sell their goods and services directly to consumers. Consumers can go to the website themselves, browse through the products, and place an order according to their likes. Examples are Flipkart, Amazon, Myntra, etc.


Some of the examples of E-commerce websites are Olx, Flipkart, Amazon, Snapdeal, Myntra, eBay, Quikr, Shopclues, Jabong, Alibaba, and many such. One such example of E-commerce activity can be if you place an order on Flipkart for a particular product then, you can talk to the seller directly ask him/her about the data like pictures, delivery address, etc.

According to Grant Thorton, the E-commerce market in India might make a jump to worth US$ 188 billion by 2026, with a turnover of $50 billion in 2020, which made India the eighth-largest E-commerce market in the world. According to data collected in 2019, the global E-commerce sales are around $27 trillion. 


Advantages of E-commerce are:

  •  E-commerce sites are available 24*7 and a customer can shop anytime according to their ease and convenience, it doesn’t have time duration like shops.
  •  It allows the global reach for the customers, without actually having to travel, makes it easy for customers and sellers to meet virtually without the barrier of location.
  • It supplies fast delivery of products and goods and saves time and energy on customer’s part.
  • In addition to allowing customers to give both positive and negative feedback, it attempts to resolve customer complaints as quickly as possible, as opposed to what is commonly believed.
  • It allows the customers and businesses to be in touch directly without the need for a mediator, which is quite significant.
  • Electronic commerce substantially lowers the transaction costs by foregoing the brick and mortar shops and it empowers the E-commerce sites to enjoy the higher profit.


Disadvantages of E-commerce are:

  • There have been many cases of credit card theft and identity theft, so security is the concern if dealing in placing products online. Security is not promised.
  • Late delivery and shipping can also leave customers disappointed.
  • The cost of starting up an e-commerce site is high, including the software and hardware, and one risk is that it fails to consider the existence of other E-commerce sites that have already gained recognition.
  • It seems that Cyber Laws are not implemented strictly. 
  • Doing everything virtually destroys human relationships, can be perceived as impersonal can cause a lack of trust and loyalty.

The global success of e-commerce has changes the way we look at business and the carrying out of services. Both consumers and businesses have benefited from it. It is no doubt that the existence of e-commerce has made the global economy more precocious and digital.  It has promoted more than average businesses and products. We also have to keep in mind the demerits that come with using and operating e-commerce platforms.  

edited nd proofread by nikita sharma

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