Learn how eCommerce can help your business

E-commerce or 'electronic commerce' is a sales transaction that takes place between a buyer and a seller online. For example, if you like to do your shopping online, you are actually doing business with e-commerce companies. Nowadays, e-commerce business models are thriving as the demand for buying products online has increased. By 2020, it is expected that online sales will grow by 78%. Technology platforms like Magento, Sitecore Commerce, Shopify, Vtex, and Big Commerce help build such e-commerce stores. Before you decide to set up an e-commerce website, you must know about its main business models.

Business to Business (B2B)

When goods and/or services are exchanged online among two companies, it is called a business to business (B2B) business model. For example, if a company that makes automobile sub-parts sell their products to numerous automobile companies online, it is an instance of B2B e-commerce.

Business to Customer (B2C)

The exchange of goods and/or services between a business and a customer are called a business to customer (B2C) business model. This is the most common type of e-commerce business model to be found online. For example, if a shoe merchant sells their products directly to the customers online, it is B2C e-commerce.

Customer to Customer (C2C)

Everyone has used websites for buying and selling old items online. These are instances of the customer to customer (C2C) e-commerce business model, where the customers interact directly with each other with the help of a platform provided by a third party.

Customer to Business (C2B)

This e-commerce business model is not what immediately occurs to people but is actually unique. Websites like UpWork, Fiverr, Google Adsense, or affiliate marketing fall in this category where the customer provides services and/or products to businesses. It is the approximate equivalent of sole proprietorship.

Scope & Pros of E-Commerce

Since the popularity of e-commerce is only going to increase as already mentioned, it makes sense to establish an e-commerce business as it exposes the products and/or services to a global consumer. It also gives consumers the liberty to choose from a range of global products/services. The investment involved in establishing an e-commerce business is minimum and there is no need to deal with geographical issues. Of course, a strong e-commerce business plan will be required in addition to the best e-commerce website for achieving success.

Your Reliable E-commerce Developer: PennyWise Solutions

There are also certain cons of e-commerce business, however, most of them can be eradicated if you choose a reliable technology solutions provider for your e-commerce needs. You must seek the best e-commerce developer in India to minimise errors and maximise profits. 
PennyWise Solutions provides the best e-commerce services including development, customisation and much more. We work with a number of technology platforms such as Magento, Sitecore Commerce, Shopify, Vtex and Big Commerce. In the past, we have partnered with prestigious companies like Microsoft, Honda, etc. We take care of all your e-commerce services such as analytics, development, and digital marketing.

We have worked for both, Indian and foreign clients such as DesaruCoast.com in Malaysia, OwayTrip.com in Myanmar, and Laminator.com in the U.S.A. Our team of professionals specifically focus on the required customisation for your business such as inventory and catalogue management, payment gateway integration, taxation rules, shipping/fulfilment integration, and much more. Our high level of professionalism and personalised services have often been praised by our clientele in the past.

If you want a flourishing e-commerce business, check out our tailored e-commerce development here. It is the boom time for e-commerce in India. The scope of e-commerce in India and the world is increasing and therefore, it is just the right time to start your own. However, it is recommended to first decide which business model suits you and develop a strong business plan before you decide to get started.