First of all, allow us to define what e-commerce is all about. E-commerce is the subset of e-business (is the process of communicating, collaborating, and discovering information) which can be described as the process of buying, selling or exchanging products, services and information via computer networks. An example of it would be buying and selling of air tickets from air-Asia web site.
The development of e-commerce has changed our daily life into better ones; especially nowadays where most of us are having such a hectic lifestyle. The best example would be shopping for goods and services. Instead of having to go to and fro from destination to another, e-commerce has given us the chance to shop by just browsing through the net at anytime and anywhere as long as there is a computer with internet connection.
The History of E-Commerce
During 1970s, e-commerce was started off with electronic funds transfer (EFT), which is the computer-based systems used to perform financial electronically.
Later, the development of Electronic Data Interchange (EDI) was designed to improve or overcome the limitations of EFT. EDI participate companies from manufacturers, retailers and more. Such system was called Inter-organizational System (IOS) where it allows the flow of information to be automated between organizations to reach a desired supply-chain management.
From the 1990s onwards, enterprise resource planning systems (ERP), data mining and data warehouse have been additionally included in e-commerce.
In the early 1990s, e-commerce has become famous when internet became commercialized and users began flocking to participate in World Wide Web.
The Evolution of E-Commerce
In 1995, there have been many innovations taken place; ranging from the development of direct online sales to e-learning. At that time, almost every organizations in the world already has a web site.
In 1999, the emphasis on e-commerce had shifted from B2C (business to consumer) to B2B (business to business).
Later in 2001, the focus had shifted again from B2B to B2E, e-government, e-learning, and m-commerce.
Social networks started to rise and so did I-commerce and wireless applications during 2005.There is no doubt that E-commerce will continue to shift and change in the future.
The evolution of e-commerce from year 1984 to 1999 can be shown in the below.
- In year 1984, Electronic data interchange, also known as EDI, was standardized through ASC X12.This allows companies to complete transactions with one another more reliably.
- In year 1992, CompuServe offers online retail products to its customers which allow them to buy things through the internet.
- In year 1994 , Netscape arrived. It enables users to suft the internet and have a safer and more secure online transaction.
- In year 1995 , two largest e-commerce have been launched, which is Amazon.com and E-Bay.com.
- In year 1998, the development of Digital subscriber line, DSL provides faster and instant internet service to subscriber . This prompt them to spend more time and money online.
In year 1999 , according to business.com, retail spending reaches over $20 billion.
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