Unique Features of E-Commerce Technology and Major Types of E-Commerce

Did you know that there are eight (8) unique features of E-Commerce Technology?

1. Ubiquity

• The presence of the Internet is already highly accessible whenever we want, wherever we are, and whatever devices we may be using. The power of E-Commerce technology is that it is already available even if we are just in the comfort of our homes, while we are on vacations, or while we are at work or school. For example, we can order food like Jollibee or McDo by just browsing through our gadgets while we are enjoying the company of our loved ones at home. And the next thing we know is our orders are already at our doorsteps.

2. Global Reach

• The internet knows no boundaries, no limits, and knows no distance. The technology can reach anywhere in the world, regardless of the boundaries set by every country. Through Marketspace, we can now shop anywhere we are without having to go to the physical store, and we can also save time and money. For example, someone from the Philippines can order goods coming from Europe, just by logging on the Internet. This means that businesses can reach millions of potential customers, and businesses can take advantage of this feature. That is the power of E-Commerce technology.

3. Universal Standards

• According to Bill Gates, "if your business is not on the Internet, then your business will be out of business." That is the universal standard that is set on the Internet. So in order for the companies to keep up, they need to use Internet standards. Otherwise, their businesses will die. This is also a great feature to be taken advantage of because the internet is widely used and can save up costs.

4. Richness

• Videos, Audios, and text messages have a great impact on any business that is operating online. E-commerce's battlefield is how they are going to please their audience through their visual content. Advertisements that are pleasing to the potential customers contribute impact to a company's success. This feature can be used to market the products and services of the business and leave a better experience for them.

5. Interactivity

• The E-commerce or any business should be interactive and responsive to the questions, concerns, and demands of their customers or clients. And in order to keep up with that, this technology can do all the work to keep the users in touch with them. Customers who get answers or attention tend to be loyal customers.

6. Information Density

• With the advent of technology, Information is easily accessed. With just a touch of our fingertips, we can now acquire the information that we are looking for without having to spend so much money and time on it. We can also make sure that these information we get is also quality-based and reliable.

7. Personalization/ Customization

• The best way to keep a loyal customer is to make them feel special and valued. That being said, E-commerce technology has the capability to send personalized and customized marketing messages to customers. A company can make birthday greetings, and greet their clients during special holidays. They can also customize it through the customers' preferences and characteristics.

8. Social Technology

• Engagements from content with users of Technology can be easily measured. This feature allows businesses to generate contents that are catchy and relevant to their audience. For example, companies can create contents that are current events. This way, they can create their networks and attract potential clients. Thus, they can easily generate, create, and distribute social content.

Did you also know that there are five (5) major types of E-commerce?

1. Business-to-business (B2B) E-Commerce

• This type of E-Commerce is focused on selling products or providing services from one company or business to another. The transactions are only between the 2 businesses. Examples of businesses that are B2B are the service providers and office supply companies.

2. Business-to-consumer (B2C) E-Commerce

• This type of commerce is the traditional type of business but is operating on the Internet. Businesses sell their products to their target market online. Companies offer their products to individual customers. Most of the retail businesses that are found online are examples of B2C. These are retail goods and services.

3. Consumer-to-consumer (C2C) E-Commerce

• C2C is a type of commerce where a consumer buys more of what they need to sell to another consumer in exchange for a small amount of profit or commission. Online resellers are a great example of this business because they buy the products they are selling online in order to generate extra income.

4. Consumer-to-business (C2B) E-Commerce

• C2B is a type of commerce that is similar to a sole proprietorship where a business owner sells his/her products but to a bigger/larger company/business. The consumer makes his products, and the business buys it to use for their business. An example of this is agricultural products owned by consumers or individuals sold to big businesses who operate in the food industry.

5. Social E-Commerce

• Businesses that are done through social networks or online relationships is how Social E-Commerce operates. Business individuals sell their products or services to their social networks by maximizing the use of their social media accounts like Facebook, Twitter, Instagram, and even Youtube. Consumers just have to post the products or services they are selling on their FB, IG, Twitter, or Youtube then their socials will buy from them by commenting or messaging.