What is e-commerce?
This question might seem a bit awkward, but a lot of individuals have no clue about what is e-commerce. E-commerce is electronic commerce. It is when business transactions take place on the internet. E-commerce encompasses both the product and services sector. If a business sells its products on the internet the store is called an e-commerce store. This is due to the nature of the business. The most popular store in e-commerce is Amazon. It is by far the largest by volumes of sales.
The history of e-commerce
The person credited with starting the e-commerce revolution is Michael Aldrich in 1979. What popularized the e-commerce sector as we know it is the popularity of the personal computer. In order to answer detail the history of e-commerce we must answer the question of what is e-commerce. E-commerce as we know it was popularised by Amazon in 1994 when they were able to sell more than one million books at their launch. This would have been impossible without the popularization of computers by entrepreneurs such as Bill Gates and Steve Jobs.
Companies first took checks in the early 1990s as they were no payment gateways to process payments online. In 1998 PayPal solved this problem. In 2008 3.4 percent of all sales where e-commerce based.
What is e-commerce and how has it been able to serve customers in a better way.
E-commerce has been able to solve a lot of customer’s problems. E-commerce has globalized the way we shop. Now a person leaving anywhere can buy an iPhone online directly from Apple. There is no need for the individual to travel to America. Since e-commerce businesses process transactions online. It helps save the customer much needed time and money.
What is e-commerce and how it will evolve
A lot of analysts are still debating on the future of e-commerce and how it will evolve. Some have suggested that there will be instant e-commerce in the near future. This is where individuals will be able to buy their products online and receive them in the same way they receive a pizza.