You may have come across the terms social commerce and e-commerce in your everyday life, but do you know what these terms actually mean and what are the main differences between the two? Read the following article to learn more about the two terms, differences, and similarities between them.
What is e-commerce?
When we buy and sell products or services over the internet it is known as e-commerce or e-commerce. The customers do not select the products directly, but choose the products based on photos or descriptions from the seller.
Types of e-commerce
1- business-to-business
2- business-to-consumer
3- consumer to consumer
4- From consumer to company
What is social commerce?
Social commerce is similar to e-commerce. Buying and selling takes place via social networks such as Facebook, Instagram or Twitter. In simple terms, social commerce is the use of the social network to conduct e-commerce transactions.
Types of social commerce:
1- video trading
2- Personalized purchase options
3- Promotions or giveaways
| Differences Between Ecommerce and Social Commerce | ||
| E-commerce | Social trade | |
| Trade volume | Global volume of trade | Limited volume of trade |
| monitoring | Does not require daily monitoring | Requires daily monitoring |
| communication | One-way communication | Two way communication |
| time | More time consuming | Less time consuming |
| Customer loyalty | Less extensive customer engagement | Greater customer loyalty |
| trust | More trustworthy | Less trustworthy |
| Offered by | Amazon, Flipkart, Alibaba, etc. | Facebook, Instagram, Pinterest, etc. |
| Similarities Between Ecommerce and Social Commerce |
|
| Fraud | Credit card fraud was observed in both cases. |
| Inability to touch the product | The customer can only touch the products once they have been sent to the address of their choice. In either case, the products may not meet customer expectations. |
| Internet access | To order products or services from either, the consumer must have an internet connection. |
| Market cost | Both make the products available to customers at discounted prices. |
| Market trend | In both cases, sellers can keep an eye on market developments. |
So these were some of the differences and similarities between ecommerce and social commerce.
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