Transacting or facilitating business on the Internet is called e-commerce. E-Commerce is short for “electronic commerce.” Popular examples of e-commerce revolve around buying and selling online. But the e-commerce universe contains other types of activities as well. Any form of a business transaction conducted electronically is e-commerce.
Types of E-commerce
E-commerce can be classified based on the type of participants in the transaction:
B2B e-commerce transactions are those where both the transacting parties are businesses, e.g., manufacturers, traders, retailers and the like.
When businesses sell electronically to end-consumers, it is called B2C e-commerce.
Some of the earliest transactions in the global economic system involved barter — a type of C2C transaction. But C2C transactions were virtually non-existent in recent times until the advent of e-commerce. Auction sites are a good example of C2C e-commerce.