Written by: Richard Fong
Published on July 2, 2021
Published on July 2, 2021
Interchanging ‘eCommerce’ and ‘eBusiness’ is actually quite common – especially in the advent of businesses going digital. However, there are several key differences, and if this is a space you want to tap into, it’s necessary that you can distinguish between the two.
To put it simply, eCommerce can be considered as a type of eBusiness, but eBusiness involves more processes and activities. eBusinesses can also be run 100% digitally.
Digital transformation is set to be the future of business, with statistics showing that businesses that take part in this will contribute to over half of the global GDP by 2023. Opportunities to turn your business digital are everywhere these days, so understanding the nuances in industry terms is one way you can begin planning ahead.
eCommerce is understood as the buying and selling or transactions of goods and services online. It is a commercial transaction, and your sales and conversions will take place on your website or app. eCommerce covers the sale of physical goods, online services, and also digital goods. It actually falls under the broader scope of eBusiness.
There are many types of eCommerce, most of which you are likely already familiar with:
eBusiness, on the other hand, is a business’ online presence. It is broader than eCommerce as it’s not solely concerned with the buying and selling of goods and services. It also encompasses internal activities such as the electronic processing of orders, customer relationship management (CRM), supply chain management, and other processes for business operations.
eBusinesses do not need to have physical storefronts or brick and mortar locations as they can operate fully online. These make use of the intranet and extranet, aside from the internet, to be able to connect with their stakeholders.
To summarize, eCommerce is just a component of running an eBusiness while the latter involves other processes for the business’ overall operations. eCommerce stores may have physical locations, while eBusinesses do not. Both of which have greatly altered the way we are able to consume, sell, exchange goods and services, and run companies.
Adapting to eCommerce or starting an eBusiness has numerous advantages, with the convenience of reduced overhead costs, flexible hours, the ability to reach wider audiences, and efficient tracking of your business’ progress and growth.
Need some help adapting and digitalizing your business to join the growing field of eCommerce? Bliss Drive has been ranked #1 for their eCommerce SEO services and digital marketing. Reach out to learn more about how we can help you thrive in this field!