Development of E-Commerce

E-commerce means electronic commerce or we can say it internet commerce by the introduction of E-commerce we can sale and purchase the goods and services and it also include the service and support after the sale of the product. The electronic commerce brings new way of shopping by the introduction of new technology to the business. But there are some fundamental business problems which face by the merchants since thousands of year that if you have something to sale then you have to make it known to the buyers of that product of goods and also have to deliver the proper service after the sale. So by the introduction of this new technology of internet commerce it gives the facility of advertising and distributing product information and it also enables the complete business transaction.

Zwass defines e - commerce as “The sharing of business information, maintaining business relationships, and the conducting business transactions by means of telecommunications networks” He pointed out that e - commerce includes not only buying and selling goods over

Internet, but also various business processes within individual organizations that support the goal. Four different types of information technology are converging to create the discipline of E-commerce:-

·         Electronic messages, email and fax

·         Sharing a corporate digital library

·         Electronic document interchange utilizing EDI and electronic funds transfer

·         Electronic publishing to promote marketing, advertising, sales, and customer support

Development of E-commerce:

The E-commerce was developed and came into existence in 1990’s. This new technology of buying and selling goods and service via internet is very new to the people. There is a problem of trust that time but now a day’s most of people go online for buying and selling goods and services because now E-commerce develop the trust among the people. The phase wise developments of E-commerce are as follows:

Development of E-commerce from year 1995 to 2000:

This was the first generation of E-commerce because the key concepts of e-commerce were being developed at that time and it was technological driven approach. The developments in this phase are:

•          Netscape version 1.1 was released on 6 March, 1995 which was the first GUI program to read HTML Tags. This plays major role to develop the E-commerce because it facilitates the graphical interface to the user so that they can easily access the E-commerce website.
•            In same year 1995 two major websites which were totally based on E-commerce was launched these website were Amazon and E-bay. These both website introduce online payment method.
•       Then in the year 1997 the Dell INC was launched this website contributes the development of E-commerce. The Dell Inc gives the customer to customize the configuration of computer and they directly sell the product to the customer without involving any mediator. By providing this facility Dell Inc becomes the first E-commerce website which cross the millions of sale of their product.\
•           In the same year 1997 most popular search engine launched named Google. Now a day the Google become the key source of the information of any product many E-commerce website uses some techniques to appear on the first page on Google search result. Google also give the rank to the entire website according to the traffic of that website.
•          In year 1999 file sharing software is introduce by the use of this software provides peer to peer file sharing service. We can share the file directly with the recipient without involving any third party in between. This peer to peer file sharing plays important role in development of E-commerce.   

Development of E-commerce from year 2000 to 2007:

In this phase the development of E-commerce was different from the first phase as it was based on business driven approach. The main objective of the E-commerce website holder was to engage more traffic on their website and earn more profit from them. In this phase most of the people uses internet as compare to first phase there are more no. of users of internet because it is available easily to all in form of cyber cafes. The developments of E-commerce in this phase are:

·         In year 2000 uses of E-commerce website used online payment by the use of credit card, debit card and etc. They directly give payment to the website for the product by secure connection.

·       In December 2001 the “Goner” virus was discovered with an estimated damage of over Eight Million Dollars and due to this some of the E-commerce website shutdown their business.

·        In year 2002 the most popular E-commerce website E-bay was acquire by PayPal.

·      In year 2003 windows mobile was launched, which give the facility to access the E-commerce website on mobile.

·    In year 2004 Payment Card Industry Security Standards Council (PCIDSS) was introduces which facilitates the secure payment on E-commerce website through debit and credit card.

·      In year 2005 YouTube was launched and become the first digital music retailer.

Development of E-commerce from year 2007 to 2014:

This was the phase where the E-commerce is on its peek as of now. In this phase E-commerce industry has grown a lot. This phase mainly focus on providing the security while customers do transaction on E-commerce website. This phase was very changing phase in this phase E-commerce is now very demanding among the people. They use to do shopping online rather than go to the physical store because E-commerce reduces the shopping time. People can buy and sell any produce in less time. In this phase the E-commerce website develop the trust on their customer. Now the E-commerce website holders mainly focus to increase the traffic on their website by putting ads on social media websites and also by developing the attractive website or giving so many offers.