Analytical Review of E-Commerce Business Models

Abstract:

E-commerce has continued to evolve since its introduction. E-commerce operates through various platforms and its impact cuts across every aspect of business operations. Business owners/managers seeking to adopt e-commerce platforms for their business transactions need to be abreast of appropriate e-commerce business models that fit into their business operations. The applicability of e-commerce business models was reviewed. The study highlighted the e-commerce business models that exist and the transaction flow within each business model. E-commerce transactions and their applicability to business, customers and society were reviewed. The review revealed that e-commerce has changed the way of delivering products as consumers can transact 24 hours a day, from almost any location. It was concluded that the prospect of e-commerce is very high in emerging economies like Nigeria although its adoption is still at the basic stage. It is recommended that business owners/managers should procure quality devices and gadgets that will enhance efficiency in e-commerce transactions while users of e-commerce platforms are to take necessary precautions when using the platforms.