Everybody knows about ecommerce that how much it is important and what is it. In this article we gonna discuss about very important topic that is what is ecommerce and also in this article I will discuss about the very important topic that is important terms of ecommerce.
What is ecommerce
Ecommerce is the combination of two main words which are e and commerce. So for better understanding about ecommerce we should know about the meaning of these two words. So let’s know about these two important words meaning in short.
E
Nowadays every word contain a single English word that is E Like e-governance. Everywhere where this word include means electronic way. Means when an work will done by electronic way than that work included e with in it. Here because e included in the word of commerce.
Also Read: Top 11 Part Time Business Ideas for Students 2024
So when commerce activities will done with the help of internet and electronic way than that means ecommerce. So after understanding about e now it is the time to understand about commerce. Because after understanding of commerce we will able to understand ecommerce correctly.
Commerce
Commerce include all those activities which are done when a product reach from producer to the ultimate consumer. These activities included like when a seller buy a product from producer and sell to the consumer. Also these activities included some services like Insurance, Banking, Transportation etc.
Now after study or discuss about the e and commerce now we were able to understand about the ecommerce that what is it exactly. So here ecommerce included all the activities of commerce which are done by electronic way.
Terms in Ecommerce
After discussing about the ecommerce that what it is now the time is understanding about Terms in Ecommerce. So here I will discuss top 17 Terms in Ecommerce which are often used in ecommerce. These terminology also used when an consumer produce order with online ecommerce companies like amazon.
So don’t wasting your more time lets come to the main topic and discuss about Terms in Ecommerce. Their are many Terms in Ecommerce. But some of them here i will discuss only Terms in Ecommerce.
(1.) Sell
So first and very important terminology of ecommerce is sell. When a seller or producer of product sell means transfer ownership of product toward other person for taking some money than that will know sell.
(2.) Purchase
When any person give money to owner of the product or seller of the product for getting ownership of that particular product than that process is known as purchase.
(3.) Buyer
Buyers are those persons who get the ownership of the product after giving the cost price or market price of the product to the seller of product or producer of the product.
(4.) Seller
Seller are the mediocre between ultimate consumer. They buy product from the producer and sell it to the ultimate consumer. Seller can we retailer or wholesale.
(5.) Order
Order is that term of ecommerce where a producer demanded raw material from their supplier and ultimate consumer demanded goods from seller or owner and producer of the product.
(6.) Processing
When order is published by the ultimate consumer or producer than this term is comes to force. In this step the supplier of the product evaluate and check the order receipt and check that how and when it is possible to deliver the product.
(7.) Shipment
Shipment is the that step of order where the supplier of the product transfer the package by any of the transportation method like air, railway, buses or by sea and other method of transportation.
(8.) Dispatch
Dispatch is that step of order processing where the supplier of the product pack the product in a package form and send it from the production place to another place for the purpose of fulfilling the clients and consumer order.
(9.) Cancellation
Cancellation is that term where the person who make order against any product did not get the product or want to cancel the order by other reason or the reason of delay in delivery. In cancellation the supplier get back the product and not deliver the product to the consumer and clients.
(10.) Return
Return and cancellation are looking like same term because in both the term the product is returned to the product seller or to the producer. But in both the term have a big difference the difference is time means when cancellation can be done and when return can be done.
So here i want to tell you that return works after delivery of product to ultimate consumer. It can be happen any of the reason like defective goods are delivered and other.
On the other side the cancellation can be done only before the product is delivered to the consumer. It can we happen various reason like if the order placed by the mistake and other reason.
(11.) Refund
When the seller or the producer of product sell the product and consumer pay for the product. But due to some reason consumer return the product or not want to get delivery of the product any more than it is the responsibility of the product seller to refund paid amount of the product that is paid by consumer to the seller of the product.
Bu it can be done only that time when the sell product is in the period of return. Which can be 15 days or more than that. In other cases if the product is not in the return period than it is not the responsibility of the seller to refund the amount to the consumer.
Refund amount is equals to the amount paid by the consumer for the product purchase. The amount should paid by the consumer on delivery or before delivery of the product.
(12.) Delivered
This term come into force after the order rich to the consumer. When an product rich to the ultimate consumer than that time we can say that the product is delivered to the consumer.
(13) Feedback
This is also a very important term in ecommerce. This term can be decide the future of an ecommerce company. Because feedback can help to consumer to solve the problems of business. Feedback can also help to improve the business activities.
(14.) Shipment Charges
Shipment charges are those charges which paid by the consumer for transportation purpose. Sometimes because the destination of consumer this charges can fluctuate. In some cases seller or the producer of the product can charge more shipment charges from its consumer.
(15.) Discount
Discount can be divided into two parts. Cash discount and trade discount. Cash discount is given by the producer and the seller of the product for receiving quick payment and trade discount is given for enlargement of the business.
(16.) Affiliator
Affiliater are those persons who sell the product on the behalf of ecommerce company for getting some commsion. Ecommerce companies like amazon offer affiliate program for the purpose of increasing sell. In this program, people can sell their products and can get commission.
(17.) Affiliate Commission
Affiliate commission is that amount which is paid by the producer or a an ecommerce company to the affiliater for the purpose of sell this is only given when the affiliater get success in the sell of the product.
Articles near Affiliate Marketing
So above is the information about Terms in Ecommerce. I hope you love this information and you will share it with your friends on social media.