With evolving times & trends, consumers purchasing patterns are rapidly moving towards online or eCommerce. From $1.3 trillion in 2014 to $4.9 trillion in 2021, eCommerce enterprises could expect a 265 per cent increase. This indicates a long-term increasing trend with no evidence of reversal.
Therefore, Ecommerce development service is essential for every e-retailer. There are four types of traditional eCommerce business models. If you’re about to start an eCommerce business, you should know about basic website & business model.
1. Business-to-business (B2B)
The B2B business model involves a framework where items are sold to an intermediary buyer, who then sells the product to users. A wholesaler, for example, makes an order on a company’s website and, after receiving the consignment, sells the finished product to the ultimate client who visits one of the company’s retail locations.
2. Business-to-consumer (B2C)
The eCommerce model for business-to-consumer is likewise simple. In this model, a company directly sell its product to consumers via online store or offline stores. Amazon, eBay, and Alibaba are among the top B2C eCommerce firms.
3. Consumer-to-consumer (C2C)
In this platform a consumer sells their product to other consumers. Amazon, etsy, Pepperfry etc are example of c2c.
4. Consumer-to-business (C2B)
It is a platform where, a consumer, or an individual entrepreneur, offers their products or services to companies through this channel.
Essential steps in eCommerce website development
4. Know your customer
Every company must know who their consumer is to reach out to them in the most effective way possible. Examining the clients of your competition is one method to find out. The following are some factors to bear in mind:
- Determine the demography, such as gender, age group, income level, and educational attainment.
- Use social media to find people interested in your brand/offer through’ likes’ and’ follows.
- Interact with consumers via comments, ideas, and reviews to better understand their profile.
5. Choose the right eCommerce website development platform
Choosing the right eCommerce platform is critical for every online business. To make your website administration easier, choose Vega Technologies Magento eCommerce development Service.
There are other systems to select from, with Hybris, Magento, WooCommerce, and Shopify being the most popular.
6. Choose the right eCommerce development partner
When market is flooded with services, it can be difficult finding the right Ecommerce Development Service partners. When you are choosing an eCommerce development provider, keep the following factors in mind: If you’re looking for new opportunities, note that eCommerce in Singapore is continuously growing and developing, so it will be beneficial for your business growth.
7. Their Location
- Do they provide Custom Development
- Their Approach to work
- Scalability