Retail Courses & Certifications Online

Ecommerce or electronic commerce takes place through the internet. In the e-commerce domain, businesses list sellable items on online platforms. Detailed information about the product is available to customers. 

These include prices, descriptions and images of the product. E-commerce platforms list products according to the category. These platforms also provide a filter to narrow down the selection of products. 

Once you have selected the product, you can either add it to the cart or keep it in your wishlist. If you keep it on your wishlist, then you are not buying that product instantly but you are keeping it for the future. If you add it to the cart, then you have a number of options for making the payment. 

You can make payment through the following options:

1. cash on delivery 
2. online payment through UPI, net banking, credit and debit cards
3. pay later methods like EMI options and payment apps

Once you make the payment, your order will be placed. Once confirmed, you will get the delivery schedule and you will receive the product accordingly.

Types of eCommerce

1. Business to Consumer (B2C): This eCommerce model involves trading between sellers and buyers. 
2. Consumer to Consumer (C2C): This model involves trading between the owner of a pre-owned product and sellers. 
3. Business to Business (B2B): Here, trading takes place between businesses such as selling products to enterprises.

Benefits of eCommerce

E-commerce has the following benefits:

1. Ease of availability: As a customer, everything is available to you through a single application. It is like a superstore without the need to visit different isles. 
2. Variety: As a customer, you get various options for the same product. You also get more variations that are not easily available to you in the market.
3. 24x7 availability: These platforms are accessible to you all the time and you can do online shopping at your convenience.
4. No hurry: You can take your time to evaluate the product thoroughly. You can also compare the prices on different platforms to get the best deal. 
5. Ease of cancellation and refunds: You can easily cancel a product on eCommerce websites. You also get refunds easily as per the application’s policy.

Retail

The retail model involves the sale of goods from a physical store to customers. These stores may include supermarkets, shops and malls. In this business model, customers get the chance to see the actual product. They can evaluate the product and buy it from the seller directly. You can make payments through cash, cards and mobile applications. Most small-scale retailers still accept cash. 

Advantages of Retail Business Model

Following are the advantages of the retail business model:

1. Improvement in the face to face communication between sellers and buyers
2. Consumers can touch products before purchasing. 
3. Immediate delivery of goods after purchase
4. No shipping cost
5. Easy to return policy

Difference Between Retail and Ecommerce

Both retail and eCommerce are effective business models that are widely adopted. These are used by people. However, at present more people are adopting the eCommerce model these days.