A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_URI::$config is deprecated
Filename: core/URI.php
Line Number: 101
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Router::$uri is deprecated
Filename: core/Router.php
Line Number: 127
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$benchmark is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$hooks is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$config is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$log is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$utf8 is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$uri is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$exceptions is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$router is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$output is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$security is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$input is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$lang is deprecated
Filename: core/Controller.php
Line Number: 75
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$load is deprecated
Filename: core/Controller.php
Line Number: 78
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$db is deprecated
Filename: core/Loader.php
Line Number: 396
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_DB_mysqli_driver::$failover is deprecated
Filename: database/DB_driver.php
Line Number: 371
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$table is deprecated
Filename: core/Loader.php
Line Number: 1283
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$form_validation is deprecated
Filename: core/Loader.php
Line Number: 1283
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Filename: drivers/Session_files_driver.php
Line Number: 132
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Return type of CI_Session_files_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Filename: drivers/Session_files_driver.php
Line Number: 292
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Return type of CI_Session_files_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Filename: drivers/Session_files_driver.php
Line Number: 166
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Return type of CI_Session_files_driver::write($session_id, $session_data) should either be compatible with SessionHandlerInterface::write(string $id, string $data): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Filename: drivers/Session_files_driver.php
Line Number: 235
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Return type of CI_Session_files_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Filename: drivers/Session_files_driver.php
Line Number: 315
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Return type of CI_Session_files_driver::gc($maxlifetime) should either be compatible with SessionHandlerInterface::gc(int $max_lifetime): int|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Filename: drivers/Session_files_driver.php
Line Number: 356
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 282
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: session_set_cookie_params(): Session cookie parameters cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 289
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 304
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 314
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 315
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 316
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 317
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: ini_set(): Session ini settings cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 375
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: session_set_save_handler(): Session save handler cannot be changed after headers have already been sent
Filename: Session/Session.php
Line Number: 110
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: Warning
Message: session_start(): Session cannot be started after headers have already been sent
Filename: Session/Session.php
Line Number: 143
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$session is deprecated
Filename: core/Loader.php
Line Number: 1283
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$article_model is deprecated
Filename: core/Loader.php
Line Number: 358
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$news_model is deprecated
Filename: core/Loader.php
Line Number: 358
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property Article::$home_model is deprecated
Filename: core/Loader.php
Line Number: 358
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$benchmark is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$hooks is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$config is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$log is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$utf8 is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$uri is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$exceptions is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$router is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$output is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$security is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$input is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$lang is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$load is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$db is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$table is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$form_validation is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$session is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$article_model is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$news_model is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
A PHP Error was encountered
Severity: 8192
Message: Creation of dynamic property CI_Loader::$home_model is deprecated
Filename: core/Loader.php
Line Number: 931
Backtrace:
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/application/controllers/Article.php
File: /home/judfadzm/public_html/fintechworldseries.com/index.php
MartechMatrix | Fintech
Article
The Evolution & Future Scope of eCommerce Platforms
Online mediums that facilitate the trading of products, funds, stocks and more can be grouped under eCommerce or electronic commerce providers or platforms. All online business models that facilitate sales and transactions through the internet are eCommerce platforms. It is estimated that the internet will host more than 2 billion global digital buyers by 2022.
Evolution of eCommerce It all began with the birth of the internet, which was initially restricted to government and military usage. Internet for public access was granted in 1989. The introduction of the (www) in 1991 became a global sensation with the multiple opportunities and potential that it posed. It almost immediately became a mainstream source of information, entertainment, and communication. The endless possibilities of the internet were experimented with by multiple companies. Today’s leading companies like eBay, Amazon, and Netflix were few pioneers in harnessing the internet to produce services that are still at large.
The precise pioneer of eCommerce has been up for debate. For example, it has been suggested that in 1994, Phil Bradenger used his computer and credit card to purchase a “ten summoners” album shipped over to him, making him the first to engage in eCommerce. On the other hand, some argue that Michael Aldrich, the man who developed teleshopping, was the pioneer of eCommerce. And some believe that the ‘Boston computer exchange’ company was the first to sell their computers online, and some believe that ‘Bookstacks unlimited’ in 1992 was the first online bookstore and hence the first eCommerce site.
Amazon launched in 1995, which also started as an online bookstore, took over the trends of eCommerce. Amazon pioneered the sharing of user reviews and feedback online. eBay established its debut entry into the field of eCommerce by becoming an online auction site in 1995. PayPal launched in 1998 as a quick and easy online transaction service for multiple currencies. Alibaba.com in 1999 became the first of its kind to include B2B, B2C, C2C eCommerce in the same platform. Etsy launched in 2005 for displaying local handmade crafts and art pieces to the world for admiring and purchasing, thus supporting local artists and traditional craftsmen everywhere. Social media enters the podium to share the spotlight in eCommerce, with Facebook introducing the ‘sponsored stories’ feature in 2011 Apple in 2014 and google in 2015 introduced online payment options as Apple pay and Android pay, respectively. Instagram, another social media handle, enters the eCommerce stage by introducing shoppable posts. Features of eCommerce eCommerce became popular as a bigshot company’s playground and has expanded into an easily accessed commodity for everyone from startups, small businesses, entrepreneurs, brands, bloggers, freelancers, NGOs and has even made its way into social media platforms like Instagram and Facebook. The features that eCommerce entails are:
Global reach – Anybody in the world can trade products and services to anyone else through the internet. More connectivity means more markets to cover; more investors involved translating into more business. Low exchange cost – The easy online transactions reduce the expenses of maintaining offline shops. Moreover, it is the most convenient way to carry business. Accessibility – It is easy and efficient. It also has the scope of eliminating extra costs from a middleman, connecting buyer and seller directly. Types of eCommerce There are three primary types of eCommerce depending on the two parties involved. Essentially, as the names suggest, the online trade or eCommerce transaction between two parties where either of the party is a business or a consumer is of 4 primary types:
B2B (business to consumer) – Transactions between one business and another are grouped under the B2B category. Marketing firms, digital marketing consulting firms, data collection, and insight provision businesses, etc. come are some common Ecommerce B2BExamples – Alibaba Group, Auto Global Trade, Quill, eWorld Trade, Granger, Walmart
B2C (business to consumer) – Retail stores and businesses that offer services and products are B2C.Examples – Amazon, Netflix, Flipkart, Google, Shopify
C2C (consumer to consumer) – Commodities and services exchanged or auctioned within individuals come under this category from one consumer to another.Examples – eBay, Etsy, Craigslist, Taobao, Fivr, Airbnb
C2B (consumer to business) – Individuals hired for delivering services to companies come under C2B. Platforms that allow individuals to advertise their services for other companies to view, contact, and hire, provide referrals and testimonials are C2B eCommerce platforms.Examples – Commission Junction, Amazon, Google AdSense, Yelp, TripAdvisor
Future of eCommerce eCommerce has been evolving and expanding rapidly in the past three decades ever since its origin. It has been estimated that more than 2 billion global digital buyers will emerge and keep multiplying by 2022. That is almost 27% of the global population. With the impact of the pandemic and businesses shifting to the online forum, almost 22% of retail sales worldwide are expected to converge into eCommerce platforms by 2023 due to its comparatively lower expenditure range. eCommerce comes with several perks: free delivery, reviews, discounts, accessibility, easy returns, loyalty points, feasible payment options with lesser interest, and much more.
eCommerce is a constantly evolving area and has now taken a turn into a latest trend – social media platforms that come with direct shopping options and separate pages for browsing products of interest.
