The History of E-commerce: How Did It All Begin?

Since its inception 40 years ago, E-commerce has helped numerous businesses expand their output and workload.

People’s time is becoming more valuable than ever nowadays. Because of everyone’s dynamic lifestyle and their daily responsibilities, the main issue is that many do not have the time to deal with various purchases. But, with the development of technology, different platforms have been developed to help people in this aspect. E-commerce has made life easier for all of us, enabling us to buy most of the things we like online.

History

E-commerce has helped many companies to increase their work and production. It was first heard 40 years ago, when teleshopping was mentioned as a modern version of online sales and purchases. The CompuServe company was founded by Dr. John R. Goltz and Jeffrey Wilkins in 1969 and used the E-commerce method for the first time with a dial-up connection. Then, Amazon was the one who created the complete E-commerce method for the first time in 1994. From that time until today, many companies have followed its path and example ever since. The popular site Alibaba started the online shopping platform in 1999 with a capital of more than $25 million. Additionally, the large chain of pizzerias, Pizza Hut, began its journey in online shopping in 1994, becoming the first company to offer online orders with the option of home delivery. Facebook made a remarkable move in 2011 when it launched sponsored stories for advertising. Also, the social network Instagram in 2017 made the presentation of shopping tags, facilitating the work of very active users and enabling them to sell directly from the social media platform. The use of the newest model of online sales, i.e., E-commerce, is a story of a new, virtual world, which is developing according to the customer’s advantage. It is a world that we are all building together step by step, laying a secure foundation for future generations.

E-Commerce today & tomorrow

The Internet has expanded in nothing short of astonishing ways. Every entrepreneur looking to grow their brick-and-mortar firm can take advantage of its evolution as the most potent business channel ever. It is impossible to undervalue the advantages that an online storefront offers its owner in the modern era—low startup costs, market access on a worldwide scale, mouthwatering profits, to name a few. By now, E-commerce platforms make it much easier for customers to make a purchase from mobile devices, and other electronic tools not to mention many companies using social media to market their products. Modified domestic demand boosts growth in many online businesses and companies. The future of E-commerce is bright! In the United States, E-commerce sales are expected to surpass in-store sales by 2024. According to some recent statistics, E-commerce revenues are expected to reach an annual growth rate of 14.56%, surpassing even the earliest market forecasts of $1,365.00 billion by 2025 – indicating that E-commerce or Online commerce is not a passing trend. Are you ready to be part of a new digital era?

If you want to build your own web shop or have questions relating to e-commerce development platforms or apps, read our blog posts for Shopify and Shopware. Our dedicated outsourcing team can be your collaborator in e-commerce.