Electronic commerce has come a long way. It involves electronic transactions. Under the ecommerce concept, purchase and sale of products take place over the online media. Today, this digital marketplace is driving attention of millions and billions of people from across the world. All seem to be engaged in services offered over the internet. This online marketplace is where shoppers make transactions regularly, receive online generated bills after paying for the products and services. In fact people seem to have become so used to the ecommerce platform that they can’t even think of any other mode of shopping. The fast paced life is widely leveraged by the online shopping or ecommerce platform.
Ecommerce- the new age transformation of business approach
The best part that has led to the success of ecommerce stores is the fact that this podium allows users or shoppers to gather over the internet, choose products and services without being physically present at the store. No matter the distance, people can now make a purchase at their own convenience. They can visit a store during any hour of the day; choose from a multitude of options on particular range of products and services. The competition is high; over the internet manufacturers and retailers hailing from different industries gather, each have their own sales proposition to offer, each want to succeed the rest. This tough competition is helping consumers choose from a wide range of quality products. In order to survive the cut-throat competition, retailers are offering competitive prices, allowing purchasers to enjoy huge discounts on quality products.
An insight to the evolution of ecommerce
Ecommerce is said to have come into existence during the 1970’s, say about 70 years ago. Evolution of newer technology and innovation has led to the transformation of businesses from being restricted to the offline base to spreading wings to the vastly expansive online platform. Over the years as innovation kept on rolling improvements in the following aspects have been marked, palpable:
- User experience
Since it came into being ecommerce has undergone rapid changes and it continues to transform every now and then in order to ensure that customers are able to achieve high quality user experience. Electronic commerce developed from electronic data interchange. With time EDI replaced the conventional mailing approach. The digital data transfer became easier. With this, traders could send orders and bills and operate on an open platform which was secured by robust coding. Once an order would be sent from a computing device, it would be examined by the VAN and then be directed to the purchaser’s “order processing system”. EDI allows seamless data transfer. Michael Aldrich is considered the innovator of the ecommerce concept. He discovered the approach after connecting his television to the transaction processing computing device. Presently, the growth of ecommerce has helped the development of megastores online. Nowadays customer reviews are playing greater role in boosting business over the internet. They help attract customers to a website. Alongside, search engine optimization and social media optimization are taking part in generating leads for ecommerce stores. The revenues are growing bigger with each passing day.