HISTORY
In the traditional way, commerce can be defined as the trading of goods, buying and selling physically. It is a major drive of human survival since the beginning of recorded history and beyond. Now, the trading of goods, buying and selling through computer interaction over the Internet is known as e-commerce.
E-Commerce were first developed in the early 1970s with innovations such as electronic data interchange (EDI) (used to electronically transfer routine documents), and expanded electronic transfers from financial transactions to other types of transaction processing. In 1984, electronic data interchange (EDI) was standardized through ASC X12. This guaranteed that companies would be able to complete transactions with one another reliably.
EVOLUTION
In 1992 it was the first introducing purchase of goods through computer by CompuServe with an online retail product system. Followed by 1994, one of the companies in US, Netscape provided users a simple browser to surf the Internet and a safe online transaction technology – Secure Sockets Layer.
In 1998, the use of Digital Subscriber Line (DSL) helped the network to work faster. The design of DSL provided fast, always-on Internet service to its subscribers and subsequently prompted people to spend more time and money to online. As a result, retail spending over the Internet reached up to $20 billion in 1999.
Come to the 21st century, online shopping and e-banking transaction become common in use and some of the retailers also started their business through internet. The top 5 most famous retailers are Amazon, Dell, Staples, Office Depot and Hewlett Packard in worldwide internet. Besides, the “brick and mortar” on retailer web side allows the consumers easily search through the large database of products to get the actual price of products and enables them to compare the price before deciding to purchase such goods.
E-commerce has lead companies to be globalization. It is a potential business marketplace. Based on the past surveys conducted, e-commerce sales achieved 3.4 percent of total sales and it will be growing continuously in years.
In the traditional way, commerce can be defined as the trading of goods, buying and selling physically. It is a major drive of human survival since the beginning of recorded history and beyond. Now, the trading of goods, buying and selling through computer interaction over the Internet is known as e-commerce.
E-Commerce were first developed in the early 1970s with innovations such as electronic data interchange (EDI) (used to electronically transfer routine documents), and expanded electronic transfers from financial transactions to other types of transaction processing. In 1984, electronic data interchange (EDI) was standardized through ASC X12. This guaranteed that companies would be able to complete transactions with one another reliably.
EVOLUTION
In 1992 it was the first introducing purchase of goods through computer by CompuServe with an online retail product system. Followed by 1994, one of the companies in US, Netscape provided users a simple browser to surf the Internet and a safe online transaction technology – Secure Sockets Layer.
In 1998, the use of Digital Subscriber Line (DSL) helped the network to work faster. The design of DSL provided fast, always-on Internet service to its subscribers and subsequently prompted people to spend more time and money to online. As a result, retail spending over the Internet reached up to $20 billion in 1999.
Come to the 21st century, online shopping and e-banking transaction become common in use and some of the retailers also started their business through internet. The top 5 most famous retailers are Amazon, Dell, Staples, Office Depot and Hewlett Packard in worldwide internet. Besides, the “brick and mortar” on retailer web side allows the consumers easily search through the large database of products to get the actual price of products and enables them to compare the price before deciding to purchase such goods.
E-commerce has lead companies to be globalization. It is a potential business marketplace. Based on the past surveys conducted, e-commerce sales achieved 3.4 percent of total sales and it will be growing continuously in years.
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