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The e-commerce industry has seen a dramatic shift in recent years. Customers have finally accepted e-commerce stores than the typical brick and mortar stores for their needs. If you are also looking for significant reasons to know why e-commerce is growing? Then here you will get all the answers:
How is the e-commerce industry growing?
A sharp increase in mobile users has been the most significant reason behind the growth of the e-commerce industry. The increase in mobile users has forced website owners to ensure that their website works well on mobile users and tablets. If you don’t have a mobile-friendly app, you are losing an extraordinary amount of traffic, especially millennial. Since millennial prefer using smartphones to other devices, it is an excellent way of attracting them to your e-commerce store.
Convenience is another major factor while driving massive traffic to your e-commerce store. Audience convenience is the reason why e-commerce is growing at a fast pace. Unlike physical stores, online stores are available 24 hours a day for 365 days a year. No need to shut down stores for any holidays, limited time, and natural calamities. The online stores offer a convenience to shop even at midnight. Furthermore, it allows them to compare products with other stores, filter their preferences, and read the reviews to purchase the best goods.
No doubt that e-commerce has changed the lives of people in unexpected ways. Whether you want to order groceries or buy your medicines, everything is just a click away. Now you don’t have to visit offline stores outside and drive traffic to buy a single thing. Just open your smartphone and make the order to get it delivered to your doorstep.
The types of e-commerce
When we hear about the e-commerce industry, the first thing comes to the mind is an online tour where businesses and customers exchange product and services. However, the industry is more than that. Read below to know what are the types of e-commerce?
Business to business (B2B)
Business to business(B2B) occurs when the exchange of products and services is between companies. This mostly takes place between manufacturers and wholesalers.
Business to customers (B2C)
Business to consumers (B2C) refers to the exchange of goods and services between businesses and consumers. The retailer follows this type of e-commerce to deliver its products and services to the final consumers.
Consumer to consumer (C2C) usually takes place between customers only. Here customers use a third-party website or application to offer products and services to each other.
Customer to business (C2B)
This type of e-commerce is prevalent nowadays. A C2B encompasses between a customer and business to exchange particular products and services. The best example of customer-to-business e-commerce activity is when freelancers. When a graphic designer or a photographer offer services to the industry, it comes into C2B.
Business to administration (B2A)
A B2A transaction takes place between businesses to administration for using their services. When companies make a transaction to administration for services like legal documentation, registries, social security, etc., it comes into B2A.
Customers to administration (C2A)
A C2A involves all kinds of transactions made by individuals to customers. In this, individuals made all the transactions to the administration, such as education, tax fillings, health, social security, etc.
Now you must have understood why e-commerce is growing? Since the world is moving at a fast pace towards the digital front. E-commerce will likely increase only. If you are still not taking advantage of this great platform, you are loosing great opportunities to boost your sales. Transform your offline business now into an e-commerce store to grow better.