When Did E-Commerce Begin?
E-commerce is a type of Internet commerce that allows consumers to directly buy goods or services from businesses without leaving the comfort of their homes. It is a rapidly growing industry that has transformed the way many people live and shop.
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The history of e-commerce began in the 1960s when the Electronic Data Interchange (EDI) was introduced. It was designed to replace the use of faxes and mail for exchanging business information. Using this system, trading partners could send documents electronically and have them automatically processed. This technology made it possible to transfer a variety of information including orders, invoices, and receipts, all in real-time.
Today, e-commerce is one of the fastest-growing industries in the world and is used by millions of people across the globe each day. There are several factors that have contributed to its growth and expansion, from technological advancements to sociocultural influences.
First E-commerce Sites Launched – 1995
In 1995, two websites made online shopping mainstream. Amazon and eBay put the world on notice of the benefits of e-commerce and led the way for other retailers to enter the market.
These two sites were also pioneers in introducing user reviews, which are now widely considered to be one of the best social media tactics for driving sales. The sites were also among the first to offer secure transactions via SSL, a security protocol that makes online shopping more safe and secure.
Amazon launches a website to sell books and other items that customers can purchase over the Internet. It is now one of the largest eCommerce sites in the world, attracting 65 million customers each month.
eBay, on the other hand, launched in the same year as Amazon and is most famous for its auction format. Its success helped lead other companies to enter the online shopping market, such as Zappos and Victoria’s Secret.
Etsy, which launched in 2005, is a platform that allows crafters and sellers of handmade goods to sell their products on the web. It has become an important marketplace for small businesses, with over 4.3 million sellers.
Twitter, Instagram, and Facebook have started to incorporate shoppable features in their platforms that allow users to click a button to purchase items from the social media website. This is an indication that e-commerce will continue to grow in popularity and will only expand.
When Did E-commerce Begin – 1979
The first known instance of online shopping is in 1979 when Michael Aldrich invented a system that allowed consumers to buy and sell goods without having to go into stores. He used a modified television to connect to a transaction processing computer and a telephone line. This was the beginning of e-commerce and changed the way people purchased things for years to come.
Another early e-commerce service was CompuServe, which was launched in 1969 as an immediate front-runner in creating online services such as electronic mail and live chat. It was later acquired by AOL.