What is e-commerce?
Electronic
commerce or e-commerce may be a business model that lets corporations and
people purchase and sell things over the net.
In different
words, E-commerce is that the activity of electronically shopping for or
merchandising products on online services or over the net.
History of eCommerce
E-commerce
was introduced forty years agone in its earliest type.
Since then,
electronic commerce has helped myriad businesses grow with the assistance of
the latest technologies, enhancements in net property, another security with
payment gateways, and widespread client and business adoption.
Ecommerce
timeline
1969:
CompuServe
is supported.
Founded by
EE students Dr. John R. Goltz and Jeffrey Wilkins, early CompuServe technology
was engineered utilizing a dial-up affiliation.
In the nineteen Eighties, CompuServe introduced a number of the earliest forms of email and net property to the general public and dominated the eCommerce landscape through the mid-1990s.
1979:
Michael
Aldrich invents electronic searching.
English
artificer archangel Aldrich introduced electronic searching by connecting a
changed TV to a transaction-processing pc via phone line.
This created
it attainable for closed data systems to be opened and shared by outside
parties for secure knowledge transmission- and therefore the technology became
the inspiration for contemporary e-commerce.
1982:
Boston pc
Exchange launches.
When Hub of
the Universe pc Exchange launched, it had been the world’s 1st e-commerce
company.
Its primary
perform was to function as an internet marketplace for individuals inquisitive
about merchandising their used computers.
1992:
Book Stacks
Unlimited launches as 1st online book marketplace.
Originally,
the corporate used the dial-up bulletin board format. However, in 1994 the
location switched to the net and operated from the abaooks.com domain.
1994:
Netscape
Navigator launches as an internet browser.
Marc
Andreessen and Jim Clark co-created the web browser Navigator as an internet
browsing tool. throughout the Nineties, web browser Navigator became the first
applications program on the Windows platform, before the increase of
contemporary giants like Google.
1995:
Amazon
launch.
Jeff Bezos
introduced Amazon primarily as AN e-commerce platform for books.
1998:
PayPal
launches as AN e-commerce payment system.
Originally
introduced as Confinity by founder goop Levin, Peter Thiel, Luke Nosek, and Ken
Howery, PayPal created its look on the e-commerce stage as a cash transfer
tool.
By 2000,
it'd merge with Elon Musk’s online financial institution and start its fame and
recognition.
1999:
Alibaba
launches.
Alibaba
online launched as an internet marketplace with quite $25 million in funding.
By 2001, the corporate was profitable. It went on to show into a serious B2B,
C2C, and B2C platform that’s widely used these days.
2000:
Google
introduces Google AdWords as an internet advertising tool.
Google
AdWords was introduced as to how for e-commerce businesses to advertise to
individuals victimization Google search.
With the
short-text ad copy and show URLs, online retailers began victimization the tool
during a pay-per-click (PPC) context. PPC advertising efforts area unit cut
loose computer program improvement (SEO).
2004:
Shopify
launches.
After
attempting to open an internet snowboarding instrumentality search, Tobias
Lutke and Scott Lake launched Shopify. It’s AN e-commerce platform for online
stores and location systems.
2005:
Amazon
introduces Amazon Prime membership.
As for how
for purchasers to induce free two-day shipping for a flat annual fee.
The
membership conjointly came to incorporate different perks like discounted
one-day shipping and access to streaming services like Amazon Video and
members-only events like “Prime Day”.
This strategic move helped boost client loyalty and incentivize repeat purchases.
Today, free shipping and speed of delivery area unit the foremost common
requests from online shoppers.
2005:
Etsy
launches.
Etsy
launched, permitting crafters and smaller sellers to sell products (including
digital products) through an internet marketplace. This brought the
manufacturer's community online-expanding their reach to a 24/7 shopping for
the audience.
2009:
Big Commerce
launches.
Eddie
Machaalani and Mitchell's harpist co-founded massive Commerce as a 100 percent
bootstrapped eCommerce shopfront platform.
Since 2009,
quite $25 billion businessperson sales are processed through the platform, and
therefore the company currently has headquarters in the capital of Texas, San,
Francisco and state capital.
2011:
Google
notecase introduced as a digital payment.
Google
notecase was introduced as a peer-to-peer payment service that enabled people
to send and receive cash from a mobile device or personal computer.
users will pay for the product by linking the
digital notecase to an open-end credit or checking account.
Today,
Google notecase has joined with golem to obtain what's currently called Google
Pay.
2011:
Facebook
rolls out sponsored stories as a kind of early advertising.
Facebook’s early advertising opportunities were offered to Business page homeowners via sponsored stories .with these paid campaigns, eCommerce Businesses may reach specific audiences and find within the news feeds of various target audiences.
2011:
Stripe
launches.
Stripe may
be a payment process company engineered originally for developers. it had been
supported by John and Saint Patrick Collison.
2014:
Apple Pay
Introduced as a mobile payment technique.
As internet
buyers began victimization their mobile devices a lot of oft, Apple introduced
Apple Pay, that allowed users to obtain products or services with AN apple
device.
2014:
Jet.com
launches.
Jet.com was
supported by businessperson brandy mental object (who sold out his previous company, Diapers.com, to Amazon.com) together with microphone Hanrahan and Nate
Faust.
The company
competes with Costco and Sam’s Club, to
fogeys trying to find very cheap attainable evaluations for extended shipping
times and bulk ordering.
2017:
Shoppable
Instagram is introduced.
Instagram
searching launched with eCommerce partner massive Commerce. Since then, the
service has enlarged to extra eCommerce platforms ANd permits Instagram users
to instantly click an item, and move to that item’s product page for purchase.
2017:
Cyber Monday
sales exceed $6.5B.
Ecommerce
set a brand new record once online sales stony-broke $6.5 billion on Cyber
Monday-a terrorist organization increase from the previous year.
2020:
Covid-19
Drives Ecommerce Growth.
Covid-19
outbreaks around the globe pushed shoppers online to unprecedented levels. By
the might of 2020, eCommerce dealings reached an $82.5 billion-a seventy-seven increase from 2019. it'd have taken four to 6 years to succeed in that range
gazing at ancient year-over-year increase.
Consumers
have emotions online to create purchases commonly created in physical stores,
like food and home goods, and recreation. several shoppers say they’ll still
use online storefronts till a COVID-19 vaccinum is accessible.
Different types of eCommerce
*
Business-to-Business (B2B)
*
Business-to-Consumer (B2C)
* Mobile
Commerce (M-Commerce)
* Facebook
Commerce (F Commerce)
*
Customer-to-Customer (C2C)
*
Customer-to-Business (C2B)
*
Business-to-Administration (B2A)
Advantages of eCommerce
* quicker
shopping for method.
* Store and
merchandise listing creation.
* value
reduction.
* reasonable
advertising and promotion.
*
Flexibility for purchasers.
* No reach
limitations.
* Product
and worth comparison.
* quicker
response to buyer/market demands.
Examples of e-commerce
*online stores like Amazon
*Flipkart
*Shopify
*Myntra
*eBay
*QUIKR
*Olx
This area unit example of an e-commerce website.
Following area unit the various styles of eCommerce