Short History of Online Shopping
The Electronic commerce or e-Commerce as is known today evolved as businesses (end to end process) started to shift from real time market to digital market. All of the business today as we see is done over the internet and anything which is not there is meant to be wiped off. Ecommerce, the online shopping system has brought down political and physical barriers giving everyone in the world an equal playing ground for their market, everyone can put their products on sale through the e-stores(website dedicated to selling of product, a virtual store).
Speaking about the last decade we saw a great market, rise over the internet, online shopping was introduced wherein firstly computer scientists got interested in then it came to general public and gradually became a substitute for the real market place.
E-commerce, as is generally thought of, is not the birth child of “The Web” but it just got kick’ started by “The Web”.
Online shopping developed with B2B as well as with B2C since everybody is on internet, and development is going on each and every second for grabbing a better share of the market. Even as we write this article on Ecommerce with our exhaustive research!!! May just be not enough.
Evolution of Online Shopping & E-commerce:
Seeing the advances from the day online shopping started taking its form and eventually being a part of our life, it’s really interesting to look at all the research that went into creating a whole new market or maybe acting as a great platform for future researchers to work on. Whatever the case maybe, today for buying a book we don’t drive downtown to some high shop but preferably check on the internet for best rates and for the reviews.
If you want to buy a property in Chicago then the smartest approach would be to visit all web pages of the dealers and just by looking at them you can get a fair idea of how much you want to spend on what kind of property, similarly for checking out the latest offers and updates at possibly anything. All you need is to check out the one which suits you best and order online, pay online and get the delivery.
Benefits of online shopping : Best bargain as you can visit numerous shops/suppliers. No national or international barriers*, making equal playing ground for players from developed as well as 3rd world nations. Consumer at a demanding position and suppliers not in a very commanding one. Enormous employment opportunities, as a whole new industry is defined.
History: The history of e-commerce would rightly be back-tracked by the time people felt the need to send “interactive content” to be displayed on television and Videotex came into being. Research was going on from the early 1960 and more corporations got interested in sending information and thus it matured while Michael Aldrich of Redifon Computers Ltd gave the concept of teleshopping and did good business in UK.
Online service of videotext, Minitel was launched in France in 1982 and was accessed using telephone lines, similar model failed in UK. It was a real success till WorldWideWeb.
The researchers who were working on Videotex in US with services like “The Source” and “CompuServe” in 1979 (contemporary of UK based research: BBC with Prestel, BritisTelecom with Viewdata, ITV with ORACLE) got interested in creating a solution for customer-targeted payment processing whose target audience would be the software developers and shareware authors, they created Swreg in 1987 in US, thus enabling the first Online market for the developers community.
In 1990 Tim Berners-Lee a British scientist working at CERN laboratory wrote the first web browser WWW which then changed most research processes and ways of businesses seeing a whole new market to evolve (rather a whole new world “The web world”).
People saw new technologies evolving with new market and then around 1994 a company called Netscape released a browser, enabling anyone to type a name in the Navigator browser and visit a webpage (which might look dumb right now, but was a real exploration making them the real champs of the market and even challenging market leaders).Soaring stock prices, Pizza Hut taking orders online and a wide variety of products being available online.
Then transactions and business started happening over the web urging every company to have a “.com”. To address security issues Netscape 1.0 introduced SSL encryption, for secure transaction. Online retailer “Amazon.com” launched selling each and everything online. “E-bay” the online auction house founded by computer programmer Pierre Omidyar. [Yipee everything on internet]
United States postal service goes online, Acquisitions of majors overtaking smaller ones for technological advancement; the whole environment was so “technologically charged”. This went on till the year 2000 when finally the Bubble (The Dot Com bubble) burst with record high in stock prices.
When money was involved in doing business over the internet “PayPal” was launched and practically has share of 70% till date, it provides facility for online payment.
Aggressiveness in the market especially in the online shopping market giving way to new tricks like giving out Coupons for customer loyalty and in an attempt to keeps clients reverting back major benefits are being offered with decent discounts to promote online shopping.