Milestones In Ecommerce History
The history of ecommerce is interesting, mainly because of how fast it moves. When it started out it was a concept that many did not think would catch on. The internet was simply an idea. A grand idea, but an idea nonetheless. There was a time when e commerce was referred to as Electronic Data Transfer or Electronic Funds Transfer. At that time there was only one way to transfer money, and that was in. This was the beginning of a global revolution in the way that we do business.
In 1982 and throughout the 1980s, several online market places were started. Websites were designed and hosted and there was an increased proliferation of credit cards, ATMs, and telephone banking services. All these marked a major milestone in the evolution of the history of e commerce. Used computer parts were advertised and sold through e commerce from places as far as the Boston computer exchange market, to other parts of the world.
Then in the 90’s, the first static webpage was created. This was a page that let everyone access the world of business online. Whether they were individuals or companies, everyone had access. E commerce had suddenly changed the world. Many before had said that the world was a small place, but e commerce had made it even smaller, allowing everyone from everywhere to interact online for the first time.
With the evolution of the internet, new ways to receive videos and music popped up. Uploading and downloading for those who wanted to sign up for a subscription became quite possible, even though this opened up an avenue for those with less than honorable intentions. The economy shot straight up like a firecracker and people were able to stop going to work. They could make money online easily, and low income families were suddenly shooting straight up to the level of the middle class.
It only took one year for e commerce to go from an industry of tens of billions per year, to over seven hundred billions per year. For an experiment that many thought would never work, it has certainly proven itself over the years. In fact, many people find that they cannot live without it.
The health of the world economic giants and the economical pathfinders heavily rests on e commerce. Companies continue to post profit returns that are beyond any CEO’s wildest dreams. E commerce sales have continued to grow and today, they account for close to 5% of total sales, globally and this figure seems to be rising almost by the hour. Thanks to the history of e commerce, it is now the stress-free electronic transaction choice of all time and the global economy heavily depends on e commerce that is only a click of a button away and so user and consumer friendly. Read the Rich Schefren blog to learn more.
.gif)