History Of E Commerce
Internet has grown rapidly in the past years and is estimated to grow at a more rapid pace in the coming years. Several organizations and business are taking advantage to flourish the business over the internet. Among all the businesses on the internet, online shopping is the most popular activity and has seen growth on the internet in the recent years.
Online shopping has attracted consumers at a large scale for the reason that it provides convenience of doing shopping anywhere, anytime, from home or office, at leisure or work. Companies can build website to display the range of products and services they offer and there is no limitation to offer anything on the website.
The history of ecommerce started with the invention of a very old concept that says “Buy and Sell”, internet, electricity, computers, modems and cables. There were no ecommerce before 1991 as there was no internet. In the year 1991, with the introduction of internet ecommerce came into existence. It started when the internet was opened for everyone for commercial use. The internet since it has started in 1991 has seen thousands of website for running businesses. When ecommerce concept was introduced, primarily it meant the introduction of business transactions taking place electronically on the internet with the help of latest technologies such as EFT (Electronic Funds Transfer) and EDI (Electronically Data Interchange) that endowed prospects for businesses to perform transactions such as electronic funds and exchange of business information.
The technologies used in E commerce were found in the late years of the 1970s that permitted businesses and organizations to transfer documents by electronic means. The internet became popular in people and businesses in the year 1994 and took nearly around four years to build up security protocols like HTTP and DSL that helped in connecting rapidly to the internet with constant connection. Since then the ecommerce is flourishing and is estimated to grow rapidly in the coming years.
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