The History and Evolution of E-commerce

The history of electronic commerce, commonly known as e-commerce, is a history of how Information Technology has transformed business processes. This has to date back to the notion of “sell and buy”, electricity, cables, computers, modems, and the Internet.

In the early 1970s, the term ecommerce meant the process of execution of commercial transactions electronically with the help of the leading technologies such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT) which gave an opportunity for users to exchange business information and do transactions electronically.

The Internet began life as an experiment by U.S. government in 1969. In early 1990s, a great number of business companies in the U.S. represented their services in the World Wide Web such as dot-com, and Internet start-ups. At this time, people began to define the term ecommerce as the process of purchasing of available goods and services over the Internet using secure connections and electronic payment services.
In 1999, during the first generation of E-commerce boom, B2C (Business to Consumer) models have been tried and tested but the newer trends are toward B2B (Business to Business) and Click-and-Mortar models. According to all available data, ecommerce sales continued to grow in the next few years and, by the end of 2007, ecommerce sales accounted for 3.4 percent of total sales.



Undoubtedly, ecommerce is going to shift and change according to the customer advantage. And it has been estimated to have a dramatically growth as the time goes onwards. Print this post