Birth and Growth of E-Commerce

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Electronic Commerce i.e. E-Commerce has unarguably transformed the lives of many. It's one of the wonders of the technological world. This compels us to think from when and where it started. To the astonishment of many, even before the personal computers were prevalent, E-Commerce began. And then gradually, it escalated into a huge multi-billion dollar industry. It will also be easier to judge its trends for the future by looking at the evolution of E-Commerce. Let us briefly glide through the historic events that took place which led to the evolution of E-Commerce.

To start with, in the year 1984, through ASC X12, EDI or Electronic Data Interchange, was standardized. This gave the surety that the transactions would be completed by the companies reliably. In 1992, online retail products were being provided to its customers by CompuServe. This great revolution bought the first chance ever for the people to purchase things through the computer, thus making the lifestyle of the people a lot easier and trendy. Netscape arrived in 1994. It was very user friendly and offered users the option of surfing the internet through a single browser. Also, it provided Secure Sockets Layer which was a safe online transaction technology.

So, from that day onwards, fun was away from just a click of the mouse. Then in 1995, the current biggest names in the E-Commerce industry which are eBay.com and Amazon.com were launched. It was a major factor for such an unprecedented growth of E-Commerce industry. Adding to the list, DSL or Digital Subscriber Line came into action in 1998 which provided fast, always on-Internet Service to subscribers. In 1999, according to Business.com, retail spending over the internet climbed up to a cool twenty billion dollars. And then, in 2000 , Internet tax moratorium was extended by US government until at least 2005.Most of the people enjoy shopping over the internet because they don't have to deal with the always pestering sales people.

To the surprise of many, even though E-Commerce is an ever expanding business, only editorial sites are not profiting similar percentages of revenues from E-Commerce. But then other sites like Amazon.com was honored as the earth’s largest book store resulting in more than 1.2 billion dollars sales in just 10 weeks of holiday season shopping alone with more than 3 million shoppers hooked to that site. Even online air ticketing industry is making more than 20 billion dollars every year. Thus, E-Commerce has really emerged as a huge industry over the past few years standing up to the expectations of many.

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