History of Electronic Commerce - Ecommerce

I am very much impressed from the historical data of the Ecommerce, which shows the growth in the retail sales incurred by ecommerce year by the year. Let me take you to the era when the business through ecommerce was beginning. At that time, only traditional way of selling any product was popular. The history of ecommerce was interesting, as most of the people do not know that the technology for the ecommerce was established around forty years ago. I am providing here a brief history about ecommerce with its concept, rapid growth and its advantages.
Earlier years, the ecommerce was popular for doing transactions electronically via technology of EDI – Electronic Data Interchange and EFT – Electronic Fund Transfer. In late 1970’s, exchanging information and doing transaction online was the only things that was possible between businesses. Therefore, EDI and EFT were the initial technologies, which executed a new way of business called ecommerce. During 1980’s, we found massive growth in the use of ATM machines, credit cards and telephone banking, which was the next step in the ecommerce development. Now, in early 90’s, the new technology was introduced in the form of ERP – Enterprise Resource Planning, which was last technology for the beginning of ecommerce that we see today. After 1994, The things like DSL – a high-speed internet connection and security protocol introduced, which has made drastic improvement in the ecommerce as the online transactions was become more faster than it was before with more security. This was enough for the retailers to see and predict a massive growth in all the business that was related to the e-commerce business.

Let's see an ecommerce online store works in below illustration...

There are numbers of ecommerce websites introduced in western countries like USA and Europe. Many of them were collapsed and finally it was time when two new pioneers in current ecommerce business, Amazon Store and eBay Store have launched their websites to online community. According to the data, we have books, computers, music, office supplies and other household and consumers electronics was the first most popular categories that people was preferred for online purchasing.

According the all-statistical data available throughout the years, we can see the continuous growth in sales and retailing through ecommerce since it was started and by the end of 2010.

As the popularity of e-commerce enterprises keeps on growing, the technology will only pursue to enhance, making it even simpler to open and manage a virtual online store with or without a the presence of popular online shopping malls and chains. While e-commerce is still comparatively new-found province, it certainly puts forward plenty of opportunities for entrepreneurs of all kinds.

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