eCommerce DefinitionseCommerce Definitions
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What is eCommerce?
- eCommerce is a sales channel that crosses all industries that sell or promote brand awareness online. eCommerce is a very effective sales channel in particular for overseas sales called "exporting".
- eCommerce as a sales channel is part of a businesses’ digital strategy. Overseas sales require 1 on 1 export counselling, a free service to US businesses.
What is "Cross-Border eCommerce"?Cross-border ecommerce is international ecommerce. It is literally "selling across a border using ecommerce", as opposed to the general concept of “ecommerce”.
Business to business (B2B) ecommerce transactions are made between businesses, where a supplier sells in bulk
B2C eCommerceBusiness to consumer (B2C) is where a business sells its product directly to a customer, either directly from a company website or an online marketplace
What is an eCommerce Marketplace?
- A third-party website that hosts vendor pages as online storefronts
- Transactions are processed by the marketplace service provider/operator
- A part of your ecommerce sales channel mix, along with your website, social media, and in-country partner/distributor with strong online presence.
What is an eCommerce Platform?
- A series of software technologies that are integrated into a business's website
- Allows a business to solicit products or services from their website to complete the sales cycle
What is a Digital Strategy?A digital strategy addresses the basic needs of a business required to succeed in cross-border ecommerce sales channels. Look around for reputable and helpful resources to help you understand abstract concepts such as internationalization/globalization from a business perspective as you work towards increasing your ROI from the ecommerce sales channel.
Understanding the eCommerce Transaction Process will help you to make the connection between the software and service providers that support it, however your eCommerce Sales Channel Mix may contain more than just your website as a channel for product/brand marketing and sales.
What eCommerce Regulations and Taxes are there?
- U.S. Export Regulations still apply to ecommerce transactions
- eCommerce Taxes & Regulations are not legally distinct from traditional point-of-sale transactions
- General Data Protection Regulation (GDPR) & EU-U.S. Privacy Shield - All U.S. companies who are exporting to the European Union, marketing to EU citizens, or addressing inquiries from EU citizens for their products or services must comply with EU data privacy rules. The GDPR took effect May 25, 2018 and applies to all industry sectors. Register for recorded webinar on getting ready for GDPR” Please register here to watch a pre-recorded webinar (May 22, 2018).
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