E-COMMERCE: FUTURE OF BUSINESS

What is e-commerce?
E-commerce in its wider sense encircles all transactions, evolving business organizations, governments or consumers that are done electronically on internet.
However, in limited view of e-commerce focusses only on transactions between business and consumers (B2C e-commerce), among two or more businesses (B2B e-commerce). Direct to Consumer (D2C): Direct to consumer e-commerce is the newest model of ecommerce. D2C means that a brand is selling directly to their end customer third party's involvement. Social platforms are fair for (D2C) nowadays. Another one is consumer to consumer (C2C), platforms like eBay, Etsy, Fivver, etc. And also there is Consumer to Business (C2B), C2B encircles influencers, photographers and freelance.

In today's world, e-commerce has placed its routes in every business sector i.e banking, entertainment, telecommunications, manufacturing industries and etc, they are reaping benefits in terms of greater revenues and lesser costs by using e-commerce.
How are they using internet for E-commerce and for what?
-Attracting new customers through online marketing and advertising,
-Serving existing customers via customer services and support functions,
-Developing new markets and distribution channels for existing products,
-Developing new information-based digitized products which are then transmitted online.

Why business needs to be online and how is it future?
Around 22% of world's population is purchasing/shopping online nowadays which makes about 1.5 billion people. Evolving e-commerce into your business will allow you to assess and elucidate data in a way that may have not been previously available to you through in shop purchases. Your business through e-commerce platforms mean your business's exposure to excising costumers as well as new ones. Before e-commerce your business needed advertisement and you had to pay for it but this platforms have made things without costing huge amount of pay and advertisement divulge to millions purchasing online Once you are discoverable online, your business has the potential to grow exponentially.

One more thing to keep in mind is that all the stuff, that I have written, isn't all of E-commerce. It is actually an ocean to understand and explore, the more you go deep the more you find it useful and beneficial.
Note: All the pictures are taken from www.pixabay.com