E-commerce, or electronic commerce, is constantly evolving worldwide, with explosive growth over the past few decades. The rise of digital technologies has enabled consumers to make online purchases faster and easier, radically changing the way businesses do business.
E-commerce has become a vital part of global business and continues to grow at a rapid pace. In this article, we will focus on the history and evolution of e-commerce around the world , the forms it can take, as well as the challenges and opportunities it presents for businesses, particularly small and medium-sized enterprises (SMEs).
We will also examine the technological innovations that are shaping the future of e-commerce.
What is E-commerce?
Thus, E-Commerce, or Electronic country wise email marketing list Commerce. Refers to all commercial transactions carried out online , from the purchase of products and services to home delivery .
E-Commerce allows online buyers to access an online store from a website , a mobile application , or even social networks .
Indeed, since the global health crisis ( Covid-19) , E-Commerce has experienced unavoidable growth, with spectacular growth rates and turnover exceeding billions of dollars .
In addition , online sales have increased considerably for merchant sites and marketplaces , with strong demand for home delivery and very competitive delivery costs .
In this context, e-commerce is redefining the way businesses sell their products and services, and it is clear that this trend will continue in 2023 and beyond.
The History of E-commerce: Key Dates
In terms of e-commerce history , it is interesting to note that the first online purchase was made on August 11, 1994.</strong> Entrepreneur Dan Kohn sold Sting’s Ten Summoner’s Tales CD to Phil Brandenberger of Philadelphia for $ 12.48 through his pioneering e-commerce site NetMarket.
Since then, e-commerce has grown rapidly, with industry giants such as Amazon, Alibaba, and eBay dominating the global market.
However, E-Commerce or Electronic Commerce was initiated by technology experts in the 1960s , when they created Electronic Data Interchange (EDI) which allowed the transfer of digital data for orders and invoices.
So <strong>, in 1969 , Dr. John R. Goltz and Jeffrey Wilkins established CompuServe , one of the first Internet services dedicated to commerce. Over the next two decades, CompuServe became the undisputed leader in email marketing and also played a key role in the growth of e-commerce and online sales services.
Michael Aldrich invented e-commerce computer vision is a procedure used by in 1979 using a modified television connected to a computer via a telephone line.
It is worth noting that the 1980s saw many milestones in the field of distance selling, such as the launch of Boston Computer Exchange , the first online sales company, and the Minitel , one of the main precursors of the Internet today. In 1992 , Charles M. Stack set up Book Stacks Unlimited , the first online bookstore. Since then, Netscape Navigator has been the most popular web browser.
Amazon and eBay were founded in 1995 , and PayPal was created in 1998. In 2000 , Google launched Google AdWords (now known as Google Ads ), and Amazon launched its Prime service in 2005 .
What are the forms of E-Commerce?
E-commerce has become an important component of modern commerce. It allows businesses to sell products and services online, as well as consumers to easily purchase remotely.
Indeed, there are several forms of E-Commerce, each with its own characteristics and advantages:
A. Business-to-Consumer (B2C)
This is the most common form business to consumer reviews of e-commerce, where a company sells its products or services directly to end consumers through an online platform.
B. Business-to-Business (B2B)
This form of e-commerce is dedicated to business-to-business transactions. Businesses buy and sell products or services to other businesses through an online platform.