e-commerce or electronic commerce has fundamentally referred to the process of trading, in which commercial transactions take over the Internet. In simple words, commerce means, anything, which is bought or sold by transferring money or data, over an Internet.
Trading is done in many forms in different Business types. The most common transactions are
- Business to Business (B2B)
- Business to Consumer (B2C)
- Consumer To Consumer (C2C)
- Consumer To Business (C2B)
It is the current generation most advanced Business Model, which has gained massive popularity over the last decade.
Today, almost every possible product or service can be procured through e-commerce, very feasibly at your convenience. From Books to Movies or be it a concierge service or buying clothes, e-commerce is the common trend now in singapore.
There are various conventions and contemporary ways by which e-commerce is done.
Most common traditional technologies are fax, email, online catalogues and shopping carts and the modern ones includes Mobile, Electronic Funds Transfer, Electronic data interchange (EdI) and Bank Transfer.
As I said above, e-commerce is the most advanced form of trade, which has no time and geographical restrictions. So, almost every Business in singapore is coming up with the online stores, to make their reach to the maximum potential customers.
Most of the start-up entrepreneurs are coming up with fresh ideas and benefiting through e-commerce. All the established companies in singapore are extending their branches in the e-commerce, due to the immense competition in the market.
Customers also get most of the benefits through this form of trade, as they have a bunch of options to choose their products at competitive price. The efficacy in cost is obtained by cutting the need of middlemen.
Thus, it becomes profitable for both the manufacturer and the customer. Moreover It gives the ease of customers by saving time and travelling costs.
Here are the list of 14 popular companies in singapore that started using e-commerce.
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