E-Commerce was birth out of the World-Wide-Web (WWW). E-commerce means buy and sell of goods through internet. With the help of internet, we can purchase and sale in sitting at home. It saves a lot of time and money. It increases the efficiency and profitability of the business. With the help of internet, not only buy and sell the goods but also marketing, E-banking, advertising etc. We can send business information to his customers at any time.
It is a paperless method. We can send business information not only to his customers but in all over the world within a few seconds. It is only possible through internet. So we can say that it saves a lot of time. Businesses also have been engaging in a form of electronic commerce, known as electronic data interchange, for many years.
Evolution of E-commerce:
- 1972: E-business technique firstly used by the IBM Company and more successful transaction held them. First successful transaction held in 1973 between the USA and European Union.
- 1979: In 1979, online shopping was invented in UK.
- 1980: online shopping also used extensively in the UK.
- 1981: The first recorded business to business (B2B) was Thomas holidays in 1981.
- 1982: A market place for used computer launched in 1982.
- 1984: The first recorded business to consumer (B2C) was Gateshead SIS/Tesco in 1984.
- 1990: Tim Berners-Lee writes the first web browser, WWW using a next computer.
- 1991: internet online system introduced in 1991.
- 1992: J.H. snider and Terra Ziporyn publish future shop.
- 1994: internet becomes more and more popular in the world in 1994.
- 1995: Jeff Bezos launches amazon.com and Dell and Cisco begin to use internet for commercial transaction.
- 1998: electronic postal stamps can be purchased and downloaded for printing from the web.
- 1999: the peer to peer software napster launches.
- 2000: most of the European and American company used the WWW technology for the business transaction.
- 2002: the dot-com bust.
- 2003: Amazon.com posts first yearly profit.
- 2007: business.com acquired by R.H. Donnelley for %345million.
- 2008: US e-commerce and online retail sales projected to reach $204billion an increase of 17% over 2007.
