Electronic commerce, also as E-commerce can be backtracked for decades, consumers can basically credit and thank Jeff Bezos. In 1995 Jeff Bezos was the founder of Amazon.com where he simply sold books over the Internet.
Amazon.com and Ebay were few of the first companies to allow customers to process an online payment electronically. E-commerce wasn’t created over night, the first web browser was created din 1990 by Tim Berners-Lee, by 1994 Mozilla was released by Netscape and even Pizza Hut was offering to their customers the ability to order pizza on their web page. Electronic commerce was originally created to, “facilitation of commercial transactions electronically, using technology such as Electronic Data Interchange (EDI) and Electronic Funds Transfer (EFT.)” Then transitioned to credit cards, and ATMs. And as years passed and generations accepted and innovated electric commerce over time, everyone now a day carries a plastic instead of cash
“Over the past 12 years, the Internet has changed the way we buy and sell goods and services. Do you remember buying airline tickets before the Internet? Can you imagine buying a new computer or car without doing hours of Web research? And Christmas shopping? You actually had to step foot in the mall…ugh”
When a consumer clicks submit on their online purchase, that transaction is a process called e-commerce. E-commerce is a way for business to process online transaction through linking computer systems of the host, buyer, and vendor. Businesses are able to transfer ownerships or rights to use the good or service through the internet, this is convenient to both the consumers and business. “Most people are familiar with business-to-consumer electronic business (B2C). Common illustrations include Amazon.com, llbean.com, CompUSA.com, travelocity.com, and hotels.com.”Here is a little movie to illustrate the history of E-commerce:
The current top retailers leaders in the E-commerce worlds would be Amazon, Dell, Staples, Office Depot and Hewlett Packard. Online shopping has come so popular that there is also a day dedicated for special sales like Black Friday, called Cyber Mondays.
On the release of the iPhone4, there were so many consumers on the site trying to make a purchase where the server had to stop, and wasn’t loading. Many people are now making more purchases online then in stores.
Stores now offer a online release and by midnight their customers can just click one button. Without E-Commerce we would camp out of stores and not everyone has the time and ability to do wait over night in front of the store.
E-commerce is not just a fancier way of saying and online transaction. Throughout my research I found on that E-commerce can be divided into four parts.
“The amount of trade conducted electronically has grown extraordinarily since the spread of the Internet.” A consumer can purchase electronic, clothing, and even groceries over the Internet now a day. Just about any retail company uses an e-commerce method in order to attract the busy customers.
There are also many people who are now enrolled in online bill pay, and that is very convenient for the working class. As consumers, we do not have to go in store to make a payment, rather we can just click away.
Aside from a B2C point of view, businesses to other businesses can interact with one and other to buy and sell products. This will sometime reduce prices because of the travel expense and the other fees associated with negotiating in face to face.
Since electronic commerce, E-Commerce, are processed over the Internet and can range in different states that abide by different laws, E-Commerce is regulated by the Federal Trade Commission.
Currently most retails stores and businesses are online, and this a crucial key to success.