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Vocabulary【Retail & E-Commerce】
E-commerce refers to the buying and selling of goods or services online.
Many people use e-commerce websites every day to buy clothes, book movie tickets, and pay their bills.
B2C
B2C stands for "Business to Consumer".
Retailers such as clothing stores are examples of B2C businesses.
B2B
The acronym B2B stands for "Business to Business".
A supplier who sells salt to a large food manufacturer is an example of B2B business.
acronym: 首字母缩写词
brick-and-mortar
Brick-and-mortar businesses are physical stores such as supermarkets and shopping malls.
Some customers prefer brick-and-mortar stores because they like to see products in person.
However, brick-and-mortar stores tend to be more expensive to operate than online stores.
mortar: 砂浆
brick-and-mortar: 实体店
pure play e-commerce
Pure play e-commerce refers to doing business solely online and not in a physical store.
Pure play allows a business to focus on one method of operation.
Additionally, there are fewer operation costs than a brick-and-mortar store.
omnichannel retail
Omnichannel retail is a business model that combines online and offline operations together.
By selling products both online and offline, omnichannel businesses can access a wider range of customers.
As the world becomes more digitally connected, more retailers have begun to adopt omnichannel models to stay competitive.
omnichannel: 多渠道
Question
- Despite the growth of e-commerce, brick-and-mortar stores still remain popular in much of the world.
- Some people believe that shopping will be done solely online in the future.
- From 2015 to 2016, China had the largest B2C e-commerce market in the world.
- Customers who prefer physical stores will not likely purchase pure play e-commerce products.
- Certain companies have closed their physical stores and only do business through e-commerce.
- Omnichannel companies allow customers to access their products in multiple ways.
- New technologies allow companies to gather in-store data from customers to create a more personal experience.
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