BUSINESS STUDIES (CLASS 11) WORKSHEET 18-EMERGING MODES OF BUSINESS

 EMERGING MODES OF BUSINESS IN INDIA

E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. 

Types of E-Commerce

· Business-to-Business (B2B)- is defined as sales of products and services between firms using online resources. Hence, the end consumer is not involved in any transaction. Thus the parties engaged in B2B are wholesalers, retailers or manufacturers, etc.These are business-to-business transactions where the companies are trading with each other and the customers are not involved. Therefore, online transactions only affect manufacturers, wholesalers, retailers, etc.· 

Business-to-Consumer (B2C)- This is self-explanatory. Any company which sells its product to the direct end consumer. Buyers can browse and go through the details of the products and services provided by the seller. Different points include a product image, detailed description, review, etc. Then the buyer places the order, and the company ships the product directly to the consumer. Amazon, Flipkart, Jabong are typical examples of the B2C model. Here, the company sells goods and services directly to the customers. The buyers can browse through the company’s website to see products, photos and reviews of the product they want to purchase. Then they place an order and the company sends the goods directly to them. Popular examples are Amazon, Flipkart, Myntra, Nykaa and Jabong. · 

Consumer-to-Consumer (C2C)- As the name suggests, consumers are directly involved in this type of business. There is no company involved in any industry. It can be understood as one consumer sells personal assets to a different interested consumer. Thus, the type of product could fall into the category like cars, Electronic devices, furniture, etc. The famous website working on the C2C model is OLX, Quikr. Consumers are in direct contact with each other without any company being involved. It helps people sell their goods and assets directly to stakeholders. Generally, the products that are traded are cars, bicycles, Electronic devices, and so on. OLX, Quikr, etc. follow this model in India. 

· Consumer-to-Business (C2B)- Last but not least, Consumer to Business is just the opposite of the business to consumer model. In this model, the consumer vends his product or services to the industry. For example, a software engineer creates software and sells it to the company. This is the opposite of Business to consumer and is a consumer to business. Consumers provide goods and services to the company. For example, consider an IT freelancer demonstrating your software and selling it to your company or an architect providing his designs to the company.

EXAMPLES OF ECOMMERCE COMPANIES IN INDIA

Amazon ECommerce Company In India
Amazon began in the United States as an online bookstore where customers could purchase books in a variety of subjects such as finance and health.% Since its inception in India in 2010, the ecommerce site has grown to an estimated 322.54 million monthly visitors, making it by far the most popular online business website in India's ecommerce space. According to Statista, Amazon has an audience reach of 89 percent in India today.

Flipkart Ecommerce Service Provider In India

Founded in 2007, Flipkart is a privately hosted ecommerce platform specializing in online retail, fashion e-commerce, mobile phones, etc. After a 16 billion dollar acquisition in 2018, Flipkart is now owned by Walmart Inc. It is the biggest competitor of Amazon in India, with a 39.5% market share of India’s e-commerce industry. Flipkart is known for its big billion days, during which it offers massive discounts on merchandise from all categories. It has a strong online presence and is considered the best ecommerce platform in the Indian market by many Indian consumers and third-party sellers.

 

IndiaMART Ecommerce Website In India

IndiaMART is a renowned B2B (Business To Business) and B2C (Business To Consumer) platform for Indian businesses. It facilitates the connection between customers and manufacturers. Manufacturers, suppliers, and exporters can list their products on IndiaMART's website, and customers can contact them directly via email or phone. Currently, it holds a 60% market share in India's online B2B classifieds sector.