The History Of E-Commerce and It’s Evolution
The History of E-Commerce is an important thing to reflect on. Knowing the journey we have taken to modernize this avenue for business.
A History of E-Commerce
It is recorded that the first ever secure transaction online was on the 11th August 1994. Although others have said that the Internet Shopping Network sold their first piece of equipment online a month prior. Either way, this year sees the 18th birthday of E-commerce and to celebrate this fact. ‘Internet Retailing’ will hold its first e-commerce Birthday Party Awards night.
There will be around 350 leaders in the industry and award winners and is hoped to become a yearly occasion. It will be a chance for the industry to recognize the innovators and best achievements of the sector.
Reports show that every year over 6 trillion euros is spent online, which is a staggering amount.
But for those that still aren’t quite sure what this is all about, what is e-commerce?
E-Commerce, which is short for Electronic Commerce is a term that covers any type of transaction or business that transfers information across the Internet. This can include auctions, music purchases, corporation exchanges and is one of the most important internet innovations.
E-Commerce gives shoppers the ability to purchase or exchange goods using technology with no restrictions on distance or time. With people becoming more trusting of online transactions it is expected that its usage will continue to grow and even accelerate.
B2B e-commerce refers to transactions between 2 businesses (Business to Business) while B2C is transactions between a business and consumer (Business to Consumer).
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