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StoreHippo
B4,309-10 Spaze iTech Park, Sector 49, Sohna Road, Gurgaon, IN
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Business encyclopedia

Learn everything there is to know about running a business

StoreHippo’s business encyclopedia brings together everything you need to know about starting, running and growing an online business. Get a complete understanding of ecommerce business terms, models, rules etc. with elaborate yet easy to understand topics. Read on to build a successful B2C retail or B2B enterprise ecommerce business.

Featured

B2B2C

B2B2C ecommerce or Business To Business To Consumer is a business model that refers to a business set-up where a brand/business collaborates with multiple other brands/businesses to sell directly to the end customers.

Business-to-Business (B2B)

Business-to-Business is the business model where commerce takes place between two businesses.

Business-to-Consumer (B2C)

B2C or Business-to-consumer is a term used to define a business model where a commerce transaction takes place between a business and an individual customer or many individual customers.

D2C Ecommerce

D2C ecommerce is a business model where the brand/producer/manufacturer goes direct to consumer by selling their products from their ecommerce website or online marketplace. The D2C brands are different from conventional brands that usually have the traditional retailer mode with multiple middlemen. The D2C model does away with the middlemen and sells the products directly to the consumer.

Delivery Boy Management Software

Delivery boy management software is a digital logistics tool that helps in planning, managing, streamlining and executing an ecommerce brand’s deliveries using their own fleet of delivery boys. A state-of-art delivery management software has a centralized system that connects all the parties (the customers, delivery partners and ecommerce brand owners/admins) involved in the delivery life cycle.

Ecommerce

Ecommerce(short form of electronic commerce) stands for the process where goods and services are bought and sold using the internet. To complete the transactions money is transferred online( using credit card, debit card, net banking etc.) or offline(COD).

GST for Ecommerce

GST is short for Goods and Services Tax, which is an indirect tax levied on the supply of goods and services. GST replaces multiple indirect taxes like VAT, excise duty, service taxes, etc. Goods and services tax is a multi-stage, destination-oriented, comprehensive tax imposed on every value addition.

Headless Commerce

Headless Commerce is an architectural design where the front-end and the back end of an ecommerce platform are decoupled. Simply put, this means greater flexibility and allows you to make independent changes to both the content presentation layer and the functional logic/ coding layer.

Hyperlocal Ecommerce

Hyperlocal ecommerce is a business model where customers can order products or services online and the final delivery of the products/services is done through a chain of local stores or service providers. The hyperlocal ecommerce model can be a digital-native set-up or can have both offline and online stores.

MACH Architecture

MACH architecture for ecommerce is a set of technology principles used to build highly composable, scalable and flexible ecommerce systems for fast-growing businesses. MACH stands for Microservices, API-first, Cloud-native and Headless Commerce.

Mobile Apps

Mobile apps are software applications designed to run on handheld devices like smartphones, tablets, wearables etc. These apps are primarily designed to run on mobile phones and tablets rather than laptops or personal computers. However, some apps can be designed to function well on laptops and PCs.

Mobile Commerce

Mobile commerce or M-Commerce is doing online business using mobile phones or other handheld devices.

Multi Currency

Multi currency payments in ecommerce refer to a flexible payment option where international customers can buy goods and services online using their preferred currency. If an ecommerce brand sells its products worldwide and does not implement multi currency payments the customers will have to pay charges at their end as currency conversion fees.

Multi Store

The multi-store model of ecommerce consists of multiple storefronts managed through a single admin panel. This allows the owner to create and manage a chain of storefronts for targeted traffic. These sub-stores can be based on different product lines, geographical areas, languages or any other differentiating factor.

Multi Vendor

The multi-vendor(seller) model of ecommerce is a setup where multiple vendors of similar or diverse products come on a common storefront to sell their products or services. They are managed by a common admin who takes care of the complete technical setup. The vendors manage the inventory and pay a fixed or floating commission to the admin on each sale. This ecommerce setup is also known as an online marketplace.

Multilingual

Multilingual Ecommerce is the practice of doing online business through a website that is in multiple languages. The website can have different languages for all its pages and flows or it may use multiple languages for selected pages and flows. This type of ecommerce arrangement is especially beneficial for reaching the global markets where customers speak different languages. It can also be very useful for connecting with domestic buyers in countries that have diverse languages.

Omnichannel Ecommerce

Omnichannel ecommerce is a business strategy wherein a brand connects with its customers across multiple channels (digital as well as offline) and offers them a unified buying experience across all these channels.

Online Store Builder

An online store builder is a software solution that offers a complete solution to build and launch ecommerce websites or online marketplaces for B2B or D2C brands. Modern online store builder not only helps in launching an ecommerce portal but also offers comprehensive ecommerce solutions for product management, order management, marketing and fulfilment of orders.

Progressive Web Apps (PWA)

Progressive Web App (PWA) is a web app that combines the capabilities of modern web and native apps to deliver an app-like experience to users on all devices.

Quick Commerce

Quick Commerce is a new business model where hyperlocal marketplaces deliver consumable items ( usually grocery or other food items) quickly in a short span of 10-30 minutes to the customers.

Request For Quote

A request for quote or RFQ is a process where the buyers of a product or service requests selected sellers/suppliers etc. to submit a price quote and bids for providing the requested number of products or quotes. RFQ is also known as an invitation for bid (IFB). To put it simply, RFQ is a request to know the prices of the products you intend to purchase.

SKU (Stock Keeping Unit)

SKU is the short form of “stock keeping unit” which is a unique code number assigned to a single item of inventory. SKU is used to identify a product or its variants, locate it and track its availability in a store's inventory.

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