As your business grows it’s very likely you’ll want to grow your product range and your target audience, as well as develop your business for customer requirements and consumer demand.
Global retail eCommerce sales are projected to reach $27 trillion by 2020.
Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. eCommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet.
Whereas e-business refers to all aspects of operating an online business, eCommerce refers specifically to the transaction of goods and services.
The history of eCommerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website Net Market, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web — or “eCommerce” as we commonly know it today.
Since then, eCommerce has evolved to make products easier to discover and purchase through online retailers and marketplaces. Independent freelancers, small businesses, and large corporations have all benefited from ecommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail.
E-commerce is the fastest growing retail market in Asia, Europe, Americas, and around the world. An online e-commerce marketplace is a type of e-commerce website where products or services are provided by multiple third parties – stores or vendors, whereas transactions are processed by the marketplace administrator. Online marketplaces are the primary type of multichannel ecommerce. In an eCommerce marketplace, customer transactions are processed by the marketplace operator and then are delivered and fulfilled by the retailers or wholesalers.
An online marketplace is a vital step in the expansion of any retail business. No matter how conventional, retailers stand to profit a lot from online eCommerce marketplaces, because these marketplaces add value for customers, where looking for a product is incessantly easier online. This is the reason why we acknowledge the importance of online marketplaces.
eCommerce domain is a major area of Clanstech. Our skill development team focuses on interactive and efficient tailored solutions for development of eCommerce marketplaces and web stores.
There are four main types of eCommerce models that can describe almost every transaction that takes place between consumers and businesses.
eCommerce can take on a variety of forms involving different transactional relationships between businesses and consumers, as well as different objects being exchanged as part of these transactions.
Having physical shop comes with lots of limitations and responsibilities so for that, we are providing best eCommerce services.