E-Commerce or Online Shopping
This was early 1962 it was founded by a firm called CompuServe was all about buying and selling online in America, it was like buying & paying bills online. The history of electronic commerce started 40year ago . It continued to grow with many innovative ideas and business strategies plan Online shopping was famous to the Public on 1991 When the internet was available to everyone. Amazon was the first e-commerce in the USA back in date.& thousands of business have followed since. The experience of online shopping has grown exceptional very high since its inception.
Later stage it was pioneered in 1972 by Michael Aldrich
In the UK . he introduced domestic TV to pair with landline to start the multi-user Business Transaction process through the computer in 1980 One of the earliest shopping experiences 1992 was marketed to sell books stacks online in Spain Ireland and uk.
When was the first online transaction introduced?
The first online transaction was by a stand ford student who sold marijuana a report Vai apparent account at there AI 1972. However later in 1994 AUG 12 2 friends sold CD of sting VIA internet .with secure and encrypted software through the internet .When was the first online transaction introduced?
The electric data interchanged replaced the faxing of Doc with electronic data from one computer to another .In 1982 to 1990 B2B was a marketing was very lucrative. Well B2C was Business was not successful since the computer & World wide web(internet) was not so widespread.in 1982 France introduced Minite Which accessible through telephone line which most successful online ISP prior to WWW.
The world wide web arrives early 90”
Time Beverlee and Robert cailliau introduced a hypertext project called WWW. The same year Lee, using a next computer created the first web server & wrote the first web browser shortly he went on to debut the web on Aug. 6 1991 as a publicly available service on the internet. When he decided to take the task on marrying hypertext to the internet in doing that the process let to him developing URL, HTML, and HTTP. In SEP 1995 the NSF began charging a fee for registering domain name 120.000 registered domain names were present at that time within 3 yr. it grew to 2 million. In 1992 a book: Future shop: how tech will change the way we shop and what we buy. Provided insight of future consumerism. From Being many hesitation and concern with online shopping but the development of SSL encryption certificate by Netscape in 1994 provided a safe means to transmit data over the internet .web browser were able to find out the site was safe with SSL certified to proceed further or not .version 3.0 SSL is std for current days Marketplaces, Payment & mobile mid 90 to present. As discussed early the first online e-commerce was amazon in 1995 as bookstores were limited to about 2000,000, Amazon now includes not only books now even music video downloads electronics apparels furniture and etc. Amazon was the first every retailer to add user reviews with a rating scale for a product . This is considered the most effective way of social media to drive sales. Other eCommerce success story includes eBay an online auction site doubted in 1995 and etd. In 2005 amazon announce the creation of am ozone prime a membership offering free 2 way days shipping within the US. This was very popular putting other merchants to offer fast and inexpensive shopping option
Online payment evolve
Global Ecommerce pay pal began its services in 1998. And currently operators in 202 markets. The company is a acquired bank that performs payment processing for online vendors auction sites and other commercial users . they allow clients to send receive funds and hold funds in 24 currencies worldwide now PayPal manages 244 million accounts and more than 100 million active. As business was growing online secure need of transaction became apparent . in 2004 payment was meeting compliance with various security (PCI). This was created for account data protection. Mobile expands 2001 amazon launched a first commerce mobile site .more than a third US e-commerce sales were made on mobile devices in 2017. Both consumers and business buyers turn to mobile devices for products and research . While business buyers expected consumer features to feature such as a responsive design that travels from desktop to laptop to phone with consistent features. Steps into the future of e-commerce From 60’ until today the internet e-commerce & consumers trends continue to evolve. Buyers preference Driving Rapid Disruption. What will shopper want next? that’s what merchants online and offline are trying to figure out. For online merchants the holy grail is to find out a genuine advantage over the drink and mortar stores, for example, new online product visualizers can showcase products in a variety of real situations at home and in office. This is the age of digital. Shoppers always go through a review to find out how the product reviews by other customers are . and outdated design communicates outdated process products and prices to old buyers. So the online store needs to be fixable enough to adapt to the new changes. At simultaneously in 90’s India also was in E-Commerce started by Mr. K Vaitheeswaran started India’s first e-commerce website Fabmart.com back in 1999.
Before Flipkart Amazon, mantra Snapdeal & Bansal there was Mr.vaitheeswaran Fabmart in India. This was marketed by Aditya Birla Group and as More. But Mr.Ventheeswaran continued his marketplace Under a new brand indiaplaza.com Well on these days there was no shipping company no payment gateways they had to all on their own. Later in 2013 came Bansal Group with Deep Discount and washed always India plaza to shut its operation . India Growth in Ecommerce till Date and future prediction on Growth . Below Link to understand the Growth in E-commerce in Next years .if the Biological (Corona) Ends
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