E-commerce refers to the purchase and selling of goods and services online and also encompasses digital payments, a segment mastered by e-bay owned PayPal.
There are several types of e-commerce:
- Business to Consumer (B2C): Businesses sell their products online to consumers. According to Statista, the global B2C sales amounted to a massive $1.2 trillion in 2013, of which 29% were accounted for by the United States.
- Business to Business (B2B): electronic commerce between manufacturers, retailers, wholesalers.
- Consumer to Consumer (C2C): consumers interact with each other directly to buy or sell goods and services. This type of e-commerce is facilitated by websites offering classified ads, auctions…etc.
Heavyweights in the global e-commerce industry such as Amazon, Alibaba and E-bay are cashing-in billions and billions of revenues every year. These businesses are expected to continue thriving as the online shoppers grow in numbers and grow in online-savviness.
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E-Commerce in Lebanon Logging in to Potential