Historical Development of Electronic Commerce
Below is a MRR and PLR article in category Internet Business -> subcategory Ecommerce.
Historical Development of Electronic Commerce
Introduction
The evolution of electronic commerce has transformed significantly over the years. Originally, "electronic commerce" referred to the electronic facilitation of commercial transactions using technologies like Electronic Data Interchange (EDI), introduced in the late 1970s, to transmit commercial documents such as purchase orders and invoices.
From EDI to Web Commerce
The concept evolved to include "Web commerce," which involves purchasing goods and services over the World Wide Web. Critical to this evolution was the use of secure servers, demonstrated by HTTPS?"a protocol that encrypts sensitive ordering data for customer security?"along with e-shopping carts and electronic payment services like credit cards.
The Rise of E-Commerce
When the Internet gained public attention in 1994, experts predicted that e-commerce would quickly become a key economic sector. However, it took several years for security protocols, like HTTPS, to mature and become widely used. Between 1998 and 2000, businesses in the United States and Western Europe began creating basic websites.
The Dot-Com Era
During the dot-com collapse of 2000 and 2001, many "pure e-commerce" companies failed. However, traditional "brick-and-mortar" retailers recognized the value of these niche markets, prompting them to incorporate e-commerce into their business models. For example, after the collapse of the online grocer Webvan, supermarket chains like Albertsons and Safeway launched e-commerce platforms for online grocery orders.
E-Commerce Expansion and Potential
By 2005, e-commerce was well-established in major cities throughout North America, Western Europe, and parts of East Asia, such as South Korea. However, its presence remains limited in some industrialized countries and is nearly absent in many developing nations. Despite this, electronic commerce offers vast potential for both developed and developing countries, promising lucrative profits in a largely unregulated environment.
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