Definition And History Of Ecommerce
What do you mean by E-Commerce?
Electronic Commerce (e-Commerce) is a general concept covering any
form of business transaction or information exchange executed using
information and communication technologies (ICTs). e-Commerce takes place between companies, between companies and their customers, or between companies and public administrations. Electronic Commerce includes electronic trading of goods, services and electronic material.
BRIEF HISTORY OF E-COMMERCE
+ E-commerce started in early 1970’s with invention of electronic fund transfer(EFT).+ Only used by large organizations, financial institutions and a few small business at that time.
+ After invention of EDI (Electronic Data Interchange) from financial institutions to manufacturers retailers, services and so on.
+ Many other e-commerce applications started from stock trading to travel reservation system.
+ With commercialization of internet in early 1990’s. The term electronic commerce was used. Internet provided millions of customers. E.C applications expanded rapidly.
+ One reason for rapid expansion of E.C was development of networks protocols and software. Other resources were business competition and customer value.
+ From 1995 to 1999, there were many E.C applications like advertisement and auction.
+ Almost every medium and large sized organizations in USA has a website. Many are very expensive. For example, in 1999 General Motors Corporation (www.gm.com) has offered 1800 pages information about products, services and dealers.
