Commerce is defined as an activity of Buying, Selling or Trading and Transacting in a large scale. The simple Commerce has evolved to E-Commerce, M-Commerce and now the Q-Commerce. Let us see what these terms are actually meant.
In an Economic sense, the term “Commerce” refers to conduct trade between two parties or two entities. It directly impacts the money in which people have and job opportunities. Therefore Commerce generally affects the well-being and welfare of Citizens and Residents of a Country.
Commerce is the Exchange of Goods and Services among individuals and business entities. Commerce is equally important as Science and Arts when it comes to Education. It deals with various aspects of business, trade, accounting, financial information/transaction and merchandising.
The Internet revolution brought a big difference in the way businesses operate and how a trade between two entities or individuals happen. Thus evolved a new variant of Commerce known as E-Commerce. Goods are sold by electronic means vis the Internet in E-Commerce. They buyer and/or seller may sit in different geographical locations and using internet they conduct the business and transfer payments as well as communication. The E-Commerce became more prominent during the 21st Century. E-Commerce thus describes any Business or Commercial Transaction that includes Transfer of Financial Information over the Internet.
We saw advancement in technology both Internet as well as Mobile and Portable Devices, buying and selling of goods or E-Commerce. This has brought another variant of Commerce, the M-Commerce. M-Commerce thus can be defined as Buying and Selling of Goods and Services using Mobile Devices which is the new trend. M-Commerce has brought the convenience of doing business from anywhere and using just a mobile phone. So, now what we all are doing to certain extend – ordering food, services, goods etc. using our Mobile Phones or Portable Devices is M-Commerce.
With the recent Covid-19 Pandemic, yet another variant of Commerce, the Q-Commerce has gained importance and popularity. Q-Commerce or Quick Commerce is the variant of Commerce and next generation of E-Commerce. It stresses on the quickness of the service delivery. The traditional E-Commerce takes delivery of goods and services from 1 to several days. The Q-Commerce makes an instant or quick delivery wherever possible .
Q-Commerce brings small quantities of goods to individuals and business almost instantly wherever or whenever they need them. The Delivery Heroes we find around us delivering food to groceries to medicines and whatsoever are the Arteries and Veins of the Q-Commerce System. The behaviour of the customer has changed drastically and with that it was very much important to change the way we carryout E-Commerce activities. Speed and Convenience has become more important than ever before.
Q-Commerce is a market defined by very fast delivery chain. From local shops, restaurants and other suppliers, goods are delivered to the customer in less than two hours by Q-Commerce. During the Covid-19 Pandemic many of us have fully depended on the Q-Commerce as Home Delivery was the main mode of business world-wide.