About Ecommerce

Question 1

What is Ecommerce?

Answer 1

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.

Question 2

Global retail ecommerce sales are projected to reach

Answer 2

Global retail ecommerce sales are projected to reach $27 trillion by 2020.

Question 3

BUSINESS TO CONSUMER (B2C):

Answer 3

When a business sells a good or service to an individual consumer (e.g. You buy a pair of shoes from an online retailer).

Question 4

BUSINESS TO BUSINESS (B2B):

Answer 4

When a business sells a good or service to another business (e.g. A business sells software-as-a-service for other businesses to use).

Question 5

CONSUMER TO CONSUMER (C2C):

Answer 5

When a consumer sells a good or service to another consumer (e.g. You sell your old furniture on eBay to another consumer).

Question 6

CONSUMER TO BUSINESS (C2B):

Answer 6

When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).

Question 7

RETAIL

Answer 7

The sale of a product by a business directly to a customer without any intermediary.

Question 8

WHOLESALE

Answer 8

The sale of products in bulk, often to a retailer that then sells them directly to consumers.

Question 9

DROPSHIPPING

Answer 9

The sale of a product, which is manufactured and shipped to the consumer by a third party.

Question 10

CROWDFUNDING

Answer 10

The collection of money from consumers in advance of a product being available in order to raise the startup capital necessary to bring it to market.

Question 11

SUBSCRIPTION

Answer 11

The automatic recurring purchase of a product or service on a regular basis until the subscriber chooses to cancel.

Question 12

PHYSICAL PRODUCTS

Answer 12

Any tangible good that requires inventory to be replenished and orders to be physically shipped to customers as sales are made.

Question 13

DIGITAL PRODUCTS

Answer 13

Downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use.

Question 14

SERVICES

Answer 14

A skill or set of skills provided in exchange for compensation. The service provider’s time can be purchased for a fee.