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.

Basics of eCommerce Definition and History of ECommerce Role of E-Commerce in Daily Life Classification of e-Commerce Applications Difference Between Electronic Market and IOS Types Of e-Commerce

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