Ecommerce Foundations Flashcards
(20 cards)
What is e-commerce?
The buying and selling of goods or services using the internet.
What does B2C stand for?
Business-to-Consumer. A business sells directly to individual customers.
What does B2B stand for?
Business-to-Business. A business sells to other businesses.
What does DTC mean in e-commerce?
Direct-to-Consumer: A brand sells directly to the customer without intermediaries.
What is dropshipping?
A business model where the seller doesn’t hold inventory; the supplier ships directly to the customer.
What is an online marketplace?
A digital platform (e.g., Amazon, eBay) where multiple sellers offer products.
What is the difference between Shopify and Amazon?
Shopify is a platform to build your own store; Amazon is a marketplace where you list products.
What is a payment gateway?
A service that processes credit card transactions (e.g., Stripe, PayPal).
What is a merchant account?
A type of bank account that allows a business to accept online payments.
What are the 3 components of an e-commerce site?
Frontend (storefront), backend (admin dashboard), and checkout/payment system.
What is conversion rate?
The percentage of visitors who complete a desired action (e.g., purchase).
What is cart abandonment?
When a user adds a product to the cart but doesn’t complete the purchase.
What is SSL and why is it important?
SSL (Secure Socket Layer) encrypts data to protect transactions; it builds trust and security.
What are the common e-commerce platforms?
Shopify, WooCommerce, BigCommerce, Wix, Magento.
What are the benefits of using Shopify?
User-friendly, fast setup, built-in hosting, scalable with apps.
What is product-market fit?
When a product satisfies strong market demand.
What are digital products?
Non-physical items like eBooks, courses, software, or music sold online.
What is a sales funnel?
The step-by-step path a customer takes from discovering a product to making a purchase.
What is AOV in e-commerce?
Average Order Value – the average dollar amount spent per order.
What is omnichannel commerce?
Selling across multiple platforms (e.g., website, Amazon, Instagram) with a unified experience.
