Invention of E-commerce/Online shopping

Traditional trading governs our world since the beginning under the form of good exchange and services however, in the year 1979 Michael Aldrich had the inspiration to create e-commerce. A surprising fact related with electronic commerce is that initially it was meant to be used through a phone rather than internet.

      In the year 1981 Thomson Holidays submits the first B2B electronic transaction using online technology. Three years later Ms Snowball makes the first electronic purchase. The E-commerce accelerates in its development and popularity after Tim Berners-Lee introduced world wide web to the world. E-commerce drawn different business into the early ninety namely amazon, eBay, Alibaba apple creating the possibility for eCommerce to proceed on a revolutionary path. In the year 1995 e-commerce reaches 1-billion-dollar sales continuing to develop and reaching a sales figure in year 2000 of 25 billion dollar (InfoTech, 2022).

The popularity of online shopping caused industries namely fashion, entertainment, electronics, grocery, and furniture to grow considerably. The world moves at a fast pace, and this happened with e-commerce that continued to gain popularity and grow. The developers start incorporating new features to e-commerce namely machine learning/AI, multiple payment methods, augmented reality, virtual reality, voice search, and mobile banking( Miva, 2022).

The new and innovative additions to e-commerce allowed investors to improve customers shopping experience and increase revenue by promoting specific items and targeted advertising. The E-commerce had shown impressive results in terms of sales and due to our society characteristics, experts estimate higher figures in the following years.

 

References

Auxesis Infotech, 2021. The Evolution of Ecommerce Over the Years. [video] Available at: <https://www.youtube.com/watch?v=Q-z_jBzQ_tM&t=29s> [Accessed 14 July 2022].

Encyclopedia Britannica, 2022. e-commerce | Definition, History, Types, Examples, & Facts. [online] Encyclopedia Britannica. Available at: <https://www.britannica.com/technology/e-commerce> [Accessed 14 July 2022].

Miva, 2022. The History Of Ecommerce: How Did It All Begin?. [online] Blog.miva.com. Available at: <https://blog.miva.com/the-history-of-ecommerce-how-did-it-all-begin> [Accessed 14 July 2022].