Ecommerce is ANYTHING sold online. Doesn't have to be physical products.
Types of business models:
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B2C (business to consumer) [ecommerce stores, physical products, info products, food/beverage
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B2B (business to business) [ex: marketing agencies, professional services, wholesale goods]
Note: You have to know who you're selling to, then you need to choose what business model you want to use to sell.
5 Core Models:
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Dropshipping: (you can run an entire store with as many products as you want and there is a fulfillment company that will handle everything to where you do not have to touch the products at all. (PROS: low barrier to entry, millions of product choices, lots of automation tools that promote selling products online and CONS: the shipping will take a month or more (probably more) and this is not ideal, your customers most likely will not opt to wait this long. It is rumored that this core model is on its way out of the door)
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Print On Demand: (you sell your designs on custom products. No need for inventory, lots of great apparel, accessory, and home decor items you can sell, but its a little higher barrier to entry because you need good designs.
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Private Labeling: Not usually where people start selling. This is when you have a prove product idea that you want to sell with your own brand. So you get a manufacturer to produce the item and then sell it with your own packaging.
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Subscriptions: Difficult to use when you're just starting out. Requires you be very knowledgeable of your niche, create your own supply chain and invest in your packaging and branding. It can be amazing to get that recurring income, but need to know how to manage churn.
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Your own product: You're going to make, package and ship the product yourself.
You can mix and match these models or evolve from one to another.