Economic Commerce

Economic Commerce

Economic Commerce

Commerce has always been a very essential part of the human world and our day-to-day activities. It has been in existence since people began exchanging goods and services. The root of commerce comes from trade by barter. This is an act that involves the exchange of one good for another. Trade by barter was very prominent before the advent of currencies. But when currencies came into existence, the system changed and put a value on a universal commodity. It is no doubt that commerce is one of the oldest activities as it was birthed from trade-by-barter. This article will be covering the meaning of commerce and its other aspects.

What is Commerce?

Commerce can be described as the exchange of goods and services usually on a large scale. Commerce is performed by everyday people, as well as giant industries and organizations. Commerce for individuals aim at meeting their wants and needs. People exchange money for food, clothes, houses, accessories, and so on. The government, on the other hand, aims at providing for the nation and its citizens. Commerce is not only performed between two or more people but between governments where governments exchange money for a product or service. Commerce is very broad and is spread across different aspects. The following are branching of commerce; trade, transport, banking, insurance, warehousing, advertising, and communication. These branches make the day-to-day exchange easier and more convenient.

E-commerce

As commerce is the umbrella term for the exchange of goods and transactions, e-commerce focuses more on transactions on the internet. E-commerce refers to a business model where financial transactions occur through the internet. This has greatly helped with ease of purchase and saved a lot of people from the burden of waiting in a long line for a product. The pandemic has propelled the growth of e-commerce as people were trying to stay safe. A lot of people resorted to transactions online and getting their products with just a click. < /p >

Types of E-commerce

E-commerce has been able to function with its different types as each type serves a particular purpose to a group of people. Here are the four main types of e-commerce.

Business-to-Business (B2B)

This is a business model that involves the exchange of goods or services between businesses. This type of e-commerce can exist between two companies like wholesalers and retailers. It is popular knowledge how many parts of a motor vehicle are gotten from other brands. B2B is very common in the automobile industry.

Business-to-Consumer (B2C)

This is a very common type of e-commerce. B2C involves the selling of products by a business directly to a consumer. It eliminates the need for a third-party or middleman. B2C exchanges can be seen in companies like Target, Walmart, Amazon, and so on. These companies enable easy transactions by simply picking out desired products and paying through the internet.

Consumer-to-Business (C2B)

This is a business model where value is added to a business through consumers. This type of e-commerce is common among influencers and brands. A clothing brand can send its products to an influencer that has a massive reach. The influencer would then try it out and give reviews about it. In some cases, the influencer gets paid. The business gains a wider reach and possibly good reviews, while the influencer gets the products and sometimes earnings for work done.

Consumer-to-Consumer (C2C)

This is a business model that involves transactions between two consumers usually through an online platform. It involves one consumer willing to sell, and another consumer willing to buy. An example of the C2C business model is an online advertisement. Products or services are displayed from one consumer to another consumer through a third party which is the internet.

We have seen the broad specs of not only commerce but also e-commerce. Modern-day commerce has offered a variety of opportunities and stopped many problems that used to occur in the era of trade-by-barter. E-commerce has also been a huge help in present times and is growing at a fast rate. This has given some insight into its success and future.

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Overview of Economic Commerce

Economic Commerce Shopify is a software company that specialises in ecommerce software for small to enterprise level businesses.

Economic Commerce Shopify is listed as the best ecommerce software. Shopify was founded in 2006 in Ottawa, Canada and currently has over 6,124 employees registered on Linkedin.

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