E-commerce

E-commerce (electronic commerce) refers to commercial activities including the electronic buying
or selling products and services which are conducted on online platforms or over the Internet.[1] E-
commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain
management, Internet marketing, online transaction processing, electronic data interchange (EDI),
inventory management systems, and automated data collection systems. E-commerce is the largest
sector of the electronics industry and is in turn driven by the technological advances of the
semiconductor industry.

Defining e-commerce

The term was coined and first employed by Robert Jacobson, Principal Consultant to the California
State Assembly's Utilities & Commerce Committee, in the title and text of California's Electronic
Commerce Act, carried by the late Committee Chairwoman Gwen Moore (D-L.A.) and enacted in
1984.

E-commerce typically uses the web for at least a part of a transaction's life cycle although it may
also use other technologies such as e-mail. Typical e-commerce transactions include the purchase
of products (such as books from Amazon) or services (such as music downloads in the form of
digital distribution such as the iTunes Store).[2] There are three areas of e-commerce: online
retailing, electronic markets, and online auctions. E-commerce is supported by electronic
business.[3] The existence value of e-commerce is to allow consumers to shop online and pay online
through the Internet, saving the time and space of customers and enterprises, greatly improving
transaction efficiency, especially for busy office workers, and also saving a lot of valuable time.[4]

E-commerce businesses may also employ some or all of the following:

Online shopping for retail sales direct to consumers via web sites and mobile apps,
conversational commerce via live chat, chatbots, and voice assistants.[5]

Providing or participating in online marketplaces, which process third-party business-to-consumer

(B2C) or consumer-to-consumer (C2C) sales;

Business-to-business (B2B) buying and selling.[6]

Gathering and using demographic data through web contacts and social media.

B2B electronic data interchange.

 Marketing to prospective and established customers by e-mail or fax (for example, with
newsletters).

Engaging in pretail for launching new products and services.

Online financial exchanges for currency exchanges or trading purposes.

There are five essential categories of E-commerce:[7]

Business to Business

Business to Consumer

Business to Government

Consumer to Business

Consumer to Consumer

Forms

Contemporary electronic commerce can be classified into two categories. The first category is
business based on types of goods sold (involves everything from ordering "digital" content for
immediate online consumption, to ordering conventional goods and services, to "meta" services to
facilitate other types of electronic commerce). The second category is based on the nature of the
participant (B2B, B2C, C2B and C2C).[8]

On the institutional level, big corporations and financial institutions use the internet to exchange
financial data to facilitate domestic and international business. Data integrity and security are
pressing issues for electronic commerce.

Aside from traditional e-commerce, the terms m-Commerce (mobile commerce) as well (around
2013) t-Commerce[9] have also been used.

Governmental regulation

In the United States, California's Electronic Commerce Act (1984), enacted by the Legislature, the
more recent California Privacy Rights Act (2020), enacted through a popular election proposition
and to control specifically how electronic commerce may be conducted in California. In the US in its
entirety, electronic commerce activities are regulated more broadly by the Federal Trade
Commission (FTC). These activities include the use of commercial e-mails, online advertising and
consumer privacy. The CAN-SPAM Act of 2003 establishes national standards for direct marketing
over e-mail. The Federal Trade Commission Act regulates all forms of advertising, including online
advertising, and states that advertising must be truthful and non-deceptive.[10] Using its authority
under Section 5 of the FTC Act, which prohibits unfair or deceptive practices, the FTC has brought a
number of cases to enforce the promises in corporate privacy statements, including promises about
the security of consumers' personal information.[11] As a result, any corporate privacy policy related
to e-commerce activity may be subject to enforcement by the FTC.

The Ryan Haight Online Pharmacy Consumer Protection Act of 2008, which came into law in 2008,
amends the Controlled Substances Act to address online pharmacies.[12]

Conflict of laws in cyberspace is a major hurdle for harmonization of legal framework for e-
commerce around the world. In order to give a uniformity to e-commerce law around the world,
many countries adopted the UNCITRAL Model Law on Electronic Commerce (1996).[13]

Internationally there is the International Consumer Protection and Enforcement Network (ICPEN),
which was formed in 1991 from an informal network of government customer fair trade
organisations. The purpose was stated as being to find ways of co-operating on tackling consumer
problems connected with cross-border transactions in both goods and services, and to help ensure
exchanges of information among the participants for mutual benefit and understanding. From this
came [Link], an ICPEN initiative since April 2001. It is a portal to report complaints about
online and related transactions with foreign companies.

There is also Asia Pacific Economic Cooperation. APEC was established in 1989 with the vision of
achieving stability, security and prosperity for the region through free and open trade and
investment. APEC has an Electronic Commerce Steering Group as well as working on common
privacy regulations throughout the APEC region.

In Australia, trade is covered under Australian Treasury Guidelines for electronic commerce and the
Australian Competition & Consumer Commission[14] regulates and offers advice on how to deal with
businesses online,[15] and offers specific advice on what happens if things go wrong.[16]

The European Union undertook an extensive enquiry into e-commerce in 2015–16 which observed
significant growth in the development of e-commerce, along with some developments which raised
concerns, such as increased use of selective distribution systems, which allow manufacturers to
control routes to market, and "increased use of contractual restrictions to better control product
distribution". The European Commission felt that some emerging practices might be justified if they
could improve the quality of product distribution, but "others may unduly prevent consumers from
benefiting from greater product choice and lower prices in e-commerce and therefore warrant
Commission action" in order to promote compliance with EU competition rules.[17]
In the United Kingdom, the Financial Services Authority (FSA)[18] was formerly the regulating
authority for most aspects of the EU's Payment Services Directive (PSD), until its replacement in
2013 by the Prudential Regulation Authority and the Financial Conduct Authority.[19] The UK
implemented the PSD through the Payment Services Regulations 2009 (PSRs), which came into
effect on 1 November 2009. The PSR affects firms providing payment services and their customers.
These firms include banks, non-bank credit card issuers and non-bank merchant acquirers, e-money
issuers, etc. The PSRs created a new class of regulated firms known as payment institutions (PIs),
who are subject to prudential requirements. Article 87 of the PSD requires the European
Commission to report on the implementation and impact of the PSD by 1 November 2012.[20]

In India, the Information Technology Act 2000 governs the basic applicability of e-commerce.

In China, the Telecommunications Regulations of the People's Republic of China (promulgated on

25 September 2000), stipulated the Ministry of Industry and Information Technology (MIIT) as the
government department regulating all telecommunications related activities, including electronic
commerce.[21] On the same day, the Administrative Measures on Internet Information Services were
released, the first administrative regulations to address profit-generating activities conducted
through the Internet, and lay the foundation for future regulations governing e-commerce in
China.[22] On 28 August 2004, the eleventh session of the tenth NPC Standing Committee adopted
an Electronic Signature Law, which regulates data message, electronic signature authentication and
legal liability issues. It is considered the first law in China's e-commerce legislation. It was a
milestone in the course of improving China's electronic commerce legislation, and also marks the
entering of China's rapid development stage for electronic commerce legislation.[23]

Global trends

E-commerce has become an important tool for small and large businesses worldwide, not only to
sell to customers, but also to engage them.[24][25]

Cross-border e-Commerce is also an essential field for e-Commerce businesses. It has responded
to the trend of globalization. It shows that numerous firms have opened up new businesses,
expanded new markets, and overcome trade barriers; more and more enterprises have started
exploring the cross-border cooperation field. In addition, compared with traditional cross-border
trade, the information on cross-border e-commerce is more concealed. In the era of globalization,
cross-border e-commerce for inter-firm companies means the activities, interactions, or social
relations of two or more e-commerce enterprises. However, the success of cross-border e-
commerce promotes the development of small and medium-sized firms, and it has finally become a
new transaction mode. It has helped the companies solve financial problems and realize the
reasonable allocation of resources field. SMEs ( small and medium enterprises) can also precisely
match the demand and supply in the market, having the industrial chain majorization and creating
more revenues for companies.[26]

In 2012, e-commerce sales topped $1 trillion for the first time in history.[27]

Mobile devices are playing an increasing role in the mix of e-commerce, this is also commonly
called mobile commerce, or m-commerce. In 2014, one estimate saw purchases made on mobile
devices making up 25% of the market by 2017.[28]

For traditional businesses, one research stated that information technology and cross-border e-
commerce is a good opportunity for the rapid development and growth of enterprises. Many
companies have invested an enormous volume of investment in mobile applications. The DeLone
and McLean Model stated that three perspectives contribute to a successful e-business:
information system quality, service quality and users' satisfaction.[29] There is no limit of time and
space, there are more opportunities to reach out to customers around the world, and to cut down
unnecessary intermediate links, thereby reducing the cost price, and can benefit from one on one
large customer data analysis, to achieve a high degree of personal customization strategic plan, in
order to fully enhance the core competitiveness of the products in the company.[30]

Modern 3D graphics technologies, such as Facebook 3D Posts, are considered by some social
media marketers and advertisers as a preferable way to promote consumer goods than static
photos, and some brands like Sony are already paving the way for augmented reality commerce.
Wayfair now lets you inspect a 3D version of its furniture in a home setting before buying.[31]

China

Among emerging economies, China's e-commerce presence continues to expand every year. With
668 million Internet users as of 2014, China's online shopping sales reached $253 billion in the first
half of 2015, accounting for 10% of total Chinese consumer retail sales in that period.[32] The
Chinese retailers have been able to help consumers feel more comfortable shopping online.[33] e-
commerce transactions between China and other countries increased 32% to 2.3 trillion yuan
($375.8 billion) in 2012 and accounted for 9.6% of China's total international trade.[34] In 2013,
Alibaba had an e-commerce market share of 80% in China.[35] In 2014, Alibaba still dominated the
B2B marketplace in China with a market share of 44.82%, followed by several other companies
including [Link] at 3.21%, and [Link] at 2.98%, with the total transaction
value of China's B2B market exceeding 4.5 billion yuan.[36]
China is also the largest e-commerce market in the world by value of sales, with an estimated
US$899 billion in 2016.[37] It accounted for 42.4% of worldwide retail e-commerce in that year, the
most of any country.[38]: 110 Research shows that Chinese consumer motivations are different
enough from Western audiences to require unique e-commerce app designs instead of simply
porting Western apps into the Chinese market.[39]

The expansion of e-commerce in China has resulted in the development of Taobao villages, clusters
of e-commerce businesses operating in rural areas.[38]: 112 Because Taobao villages have increased
the incomes or rural people and entrepreneurship in rural China, Taobao villages have become a
component of rural revitalization strategies.[40]: 278

In 2015, the State Council promoted the Internet Plus initiative, a five-year plan to integrate
traditional manufacturing and service industries with big data, cloud computing, and Internet of
things technology.[41]: 44 The State Council provided support for Internet Plus through policy support
in area including cross-border e-commerce and rural e-commerce.[41]: 44

In 2019, the city of Hangzhou established a pilot program artificial intelligence-based Internet Court
to adjudicate disputes related to e-commerce and internet-related intellectual property
claims.[42]: 124

Europe

In 2010, the United Kingdom had the highest per capita e-commerce spending in the world.[43] As of
2013, the Czech Republic was the European country where e-commerce delivers the biggest
contribution to the enterprises' total revenue. Almost a quarter (24%) of the country's total turnover
is generated via the online channel.[44]

Arab states

The rate of growth of the number of internet users in the Arab countries has been rapid – 13.1% in
2015. A significant portion of the e-commerce market in the Middle East comprises people in the
30–34 year age group. Egypt has the largest number of internet users in the region, followed by
Saudi Arabia and Morocco; these constitute 3/4th of the region's share. Yet, internet penetration is
low: 35% in Egypt and 65% in Saudi Arabia.[45]

The Gulf Cooperation Council countries have a rapidly growing market and are characterized by a
population that becomes wealthier (Yuldashev). As such, retailers have launched Arabic-language
websites as a means to target this population. Secondly, there are predictions of increased mobile
purchases and an expanding internet audience (Yuldashev). The growth and development of the
two aspects make the GCC countries become larger players in the electronic commerce market with
time progress. Specifically, research shows that the e-commerce market is expected to grow to over
$20 billion by 2020 among these GCC countries (Yuldashev). The e-commerce market has also
gained much popularity among western countries, and in particular Europe and the U.S. These
countries have been highly characterized by consumer-packaged goods (CPG) (Geisler, 34).
However, trends show that there are future signs of a reverse. Similar to the GCC countries, there
has been increased purchase of goods and services in online channels rather than offline channels.
Activist investors are trying hard to consolidate and slash their overall cost and the governments in
western countries continue to impose more regulation on CPG manufacturers (Geisler, 36). In these
senses, CPG investors are being forced to adapt to e-commerce as it is effective as well as a means
for them to thrive.

The future trends in the GCC countries will be similar to that of the western countries. Despite the
forces that push business to adapt e-commerce as a means to sell goods and products, the manner
in which customers make purchases is similar in countries from these two regions. For instance,
there has been an increased usage of smartphones which comes in conjunction with an increase in
the overall internet audience from the regions. Yuldashev writes that consumers are scaling up to
more modern technology that allows for mobile marketing. However, the percentage of smartphone
and internet users who make online purchases is expected to vary in the first few years. It will be
independent on the willingness of the people to adopt this new trend (The Statistics Portal). For
example, UAE has the greatest smartphone penetration of 73.8 per cent and has 91.9 per cent of its
population has access to the internet. On the other hand, smartphone penetration in Europe has
been reported to be at 64.7 per cent (The Statistics Portal). Regardless, the disparity in percentage
between these regions is expected to level out in future because e-commerce technology is
expected to grow to allow for more users.

The e-commerce business within these two regions will result in competition. Government bodies at
the country level will enhance their measures and strategies to ensure sustainability and consumer
protection (Krings, et al.). These increased measures will raise the environmental and social
standards in the countries, factors that will determine the success of the e-commerce market in
these countries. For example, an adoption of tough sanctions will make it difficult for companies to
enter the e-commerce market while lenient sanctions will allow ease of companies. As such, the
future trends between GCC countries and the Western countries will be independent of these
sanctions (Krings, et al.). These countries need to make rational conclusions in coming up with
effective sanctions.
India

India has an Internet user base of about 460 million as of December 2017.[46] Despite being the third
largest user base in the world, the penetration of the Internet is low compared to markets like the
United States, United Kingdom or France but is growing at a much faster rate, adding around six
million new entrants every month. In India, cash on delivery is the most preferred payment method,
accumulating 75% of the e-retail activities.[47] The India retail market is expected to rise from 2.5% in
2016 to 5% in 2020.[48]

Brazil

In 2013, Brazil's e-commerce was growing quickly with retail e-commerce sales expected to grow at
a double-digit pace through 2014. By 2016, eMarketer expected retail e-commerce sales in Brazil to
reach $17.3 billion.[49]

Logistics

Logistics in e-commerce mainly concerns fulfillment. Online markets and retailers have to find the
best possible way to fill orders and deliver products. Small companies usually control their own
logistic operation because they do not have the ability to hire an outside company. Most large
companies hire a fulfillment service that takes care of a company's logistic needs.[50] The
optimization of logistics processes that contains long-term investment in an efficient storage
infrastructure system and adoption of inventory management strategies is crucial to prioritize
customer satisfaction throughout the entire process, from order placement to final delivery. [51]
Impacts

Impact on markets and retailers

Store closing flags outside a Toys R Us in Deptford, New

Jersey. Despite investments, the chain struggled to win
market share in the age of digital commerce.

E-commerce markets are growing at noticeable rates. The online market is expected to grow by 56%
in 2015–2020. In 2017, retail e-commerce sales worldwide amounted to 2.3 trillion US dollars and e-
retail revenues are projected to grow to 4.891 trillion US dollars in 2021.[52] Traditional markets are
only expected 2% growth during the same time. Brick and mortar retailers are struggling because of
online retailer's ability to offer lower prices and higher efficiency. Many larger retailers are able to
maintain a presence offline and online by linking physical and online offerings.[53]

E-commerce allows customers to overcome geographical barriers and allows them to purchase
products anytime and from anywhere. Online and traditional markets have different strategies for
conducting business. Traditional retailers offer fewer assortment of products because of shelf
space where, online retailers often hold no inventory but send customer orders directly to the
manufacturer. The pricing strategies are also different for traditional and online retailers. Traditional
retailers base their prices on store traffic and the cost to keep inventory. Online retailers base prices
on the speed of delivery.

There are two ways for marketers to conduct business through e-commerce: fully online or online
along with a brick and mortar store. Online marketers can offer lower prices, greater product
selection, and high efficiency rates. Many customers prefer online markets if the products can be
delivered quickly at relatively low price. However, online retailers cannot offer the physical
experience that traditional retailers can. It can be difficult to judge the quality of a product without
the physical experience, which may cause customers to experience product or seller uncertainty.
Another issue regarding the online market is concerns about the security of online transactions.
Many customers remain loyal to well-known retailers because of this issue.[54]

Security is a primary problem for e-commerce in developed and developing countries. E-commerce
security is protecting businesses' websites and customers from unauthorized access, use,
alteration, or destruction. The type of threats include: malicious codes, unwanted programs (ad
ware, spyware), phishing, hacking, and cyber vandalism. E-commerce websites use different tools to
avert security threats. These tools include firewalls, encryption software, digital certificates, and
passwords.

Impact on supply chain management

For a long time, companies had been troubled by the gap between the benefits which supply chain
technology has and the solutions to deliver those benefits. However, the emergence of e-commerce
has provided a more practical and effective way of delivering the benefits of the new supply chain
technologies.[55]

E-commerce has the capability to integrate all inter-company and intra-company functions, meaning
that the three flows (physical flow, financial flow and information flow) of the supply chain could be
also affected by e-commerce. The affections on physical flows improved the way of product and
inventory movement level for companies. For the information flows, e-commerce optimized the
capacity of information processing than companies used to have, and for the financial flows, e-
commerce allows companies to have more efficient payment and settlement solutions.[55]

In addition, e-commerce has a more sophisticated level of impact on supply chains: Firstly, the
performance gap will be eliminated since companies can identify gaps between different levels of
supply chains by electronic means of solutions; Secondly, as a result of e-commerce emergence,
new capabilities such implementing ERP systems, like SAP ERP, Xero, or Megaventory, have helped
companies to manage operations with customers and suppliers. Yet these new capabilities are still
not fully exploited. Thirdly, technology companies would keep investing on new e-commerce
software solutions as they are expecting investment return. Fourthly, e-commerce would help to
solve many aspects of issues that companies may feel difficult to cope with, such as political
barriers or cross-country changes. Finally, e-commerce provides companies a more efficient and
effective way to collaborate with each other within the supply chain.[55]
Impact on employment

E-commerce helps create new job opportunities due to information related services, software app
and digital products. It also causes job losses. The areas with the greatest predicted job-loss are
retail, postal, and travel agencies. The development of e-commerce will create jobs that require
highly skilled workers to manage large amounts of information, customer demands, and production
processes. In contrast, people with poor technical skills cannot enjoy the wages welfare. On the
other hand, because e-commerce requires sufficient stocks that could be delivered to customers in
time, the warehouse becomes an important element. Warehouse needs more staff to manage,
supervise and organize, thus the condition of warehouse environment will be concerned by
employees.[56]

Impact on customers

E-commerce brings convenience for customers as they do not have to leave home and only need to
browse websites online, especially for buying products which are not sold in nearby shops. It could
help customers buy a wider range of products and save customers' time. Consumers also gain
power through online shopping. They are able to research products and compare prices among
retailers. Thanks to the practice of user-generated ratings and reviews from companies like
Bazaarvoice, Trustpilot, and Yelp, customers can also see what other people think of a product, and
decide before buying if they want to spend money on it.[57][58] Also, online shopping often provides
sales promotion or discounts code, thus it is more price effective for customers. Moreover, e-
commerce provides products' detailed information; even the in-store staff cannot offer such
detailed explanation. Customers can also review and track the order history online.

E-commerce technologies cut transaction costs by allowing both manufactures and consumers to
skip through the intermediaries. This is achieved through by extending the search area best price
deals and by group purchase. The success of e-commerce in urban and regional levels depend on
how the local firms and consumers have adopted to e-commerce.[59]

However, e-commerce lacks human interaction for customers, especially who prefer face-to-face
connection. Customers are also concerned with the security of online transactions and tend to
remain loyal to well-known retailers. In recent years, clothing retailers such as Tommy Hilfiger have
started adding Virtual Fit platforms to their e-commerce sites to reduce the risk of customers
buying the wrong sized clothes, although these vary greatly in their fit for purpose.[60] When the
customer regret the purchase of a product, it involves returning goods and refunding process. This
process is inconvenient as customers need to pack and post the goods. If the products are
expensive, large or fragile, it refers to safety issues.[53]

Impact on the environment

In 2018, E-commerce generated 1.3 million short tons (1.2 megatonnes) of container cardboard in
North America, an increase from 1.1 million (1.00)) in 2017. Only 35 percent of North American
cardboard manufacturing capacity is from recycled content. The recycling rate in Europe is 80
percent and Asia is 93 percent. Amazon, the largest user of boxes, has a strategy to cut back on
packing material and has reduced packaging material used by 19 percent by weight since 2016.
Amazon is requiring retailers to manufacture their product packaging in a way that does not require
additional shipping packaging. Amazon also has an 85-person team researching ways to reduce
and improve their packaging and shipping materials.[61]

Accelerated movement of packages around the world includes accelerated movement of living
things, with all its attendant risks.[62] Weeds, pests, and diseases all sometimes travel in packages
of seeds.[62] Some of these packages are part of brushing manipulation of e-commerce reviews.[62]

Impact on traditional retail

E-commerce has been cited as a major force for the failure of major U.S. retailers in a trend
frequently referred to as a "retail apocalypse."[63] The rise of e-commerce outlets like Amazon has
made it harder for traditional retailers to attract customers to their stores and forced companies to
change their sales strategies. Many companies have turned to sales promotions and increased
digital efforts to lure shoppers while shutting down brick-and-mortar locations.[64] The trend has
forced some traditional retailers to shutter its brick and mortar operations.[65]

E-commerce during COVID-19

In March 2020, global retail website traffic hit 14.3 billion visits[66] signifying an unprecedented
growth of e-commerce during the lockdown of 2020. Later studies show that online sales increased
by 25% and online grocery shopping increased by over 100% during the crisis in the United
States.[67] Meanwhile, as many as 29% of surveyed shoppers state that they will never go back to
shopping in person again; in the UK, 43% of consumers state that they expect to keep on shopping
the same way even after the lockdown is over.[68]
Retail sales of e-commerce shows that COVID-19 has a significant impact on e-commerce and its
sales are expected to reach $6.5 trillion by 2023.[69]

Business application

An example of an older generation

of avatar-style automated online
assistant on a merchandising
website

Some common applications related to electronic commerce are:

B2B e-commerce (business-to-business)

B2C e-commerce (business-to-consumer)

Conversational commerce: e-commerce via chat

Digital Wallet

Document automation in supply chain and logistics

Electronic tickets

Enterprise content management

Group buying

Instant messaging

Internet security

Online auction

Online banking

Online office suites

 Online shopping and order tracking

Online transaction processing

Pretail

Print on demand

Shopping cart software

Social networking

Teleconference

Usenet newsgroup

Virtual assistant

Domestic and international payment systems

Timeline

A timeline for the development of e-commerce:

1971 or 1972: The ARPANET is used to arrange a cannabis sale between students at the Stanford
Artificial Intelligence Laboratory and the Massachusetts Institute of Technology, later described
as "the seminal act of e-commerce" in John Markoff's book What the Dormouse Said.[70]

1979: Michael Aldrich demonstrates the first online shopping system.[71]

1981: Thomson Holidays UK is the first business-to-business (B2B) online shopping system to be
installed.[72]

1982: Minitel was introduced nationwide in France by France Télécom and used for online
ordering.

1983: California State Assembly holds first hearing on "electronic commerce" in Volcano,
California.[73] Testifying are CPUC, MCI Mail, Prodigy, CompuServe, Volcano Telephone, and
Pacific Telesis. (Not permitted to testify is Quantum Technology, later to become AOL.)
California's Electronic Commerce Act was passed in 1984.

1983: Karen Earle Lile (AKA Karen Bean) and Kendall Ross Bean create e-commerce service in
San Francisco Bay Area. Buyers and sellers of pianos connect through a database created by
Piano Finders on a Kaypro personal computer using DOS interface. Pianos for sale are listed on a
Bulletin board system. Buyers print list of pianos for sale by a dot matrix printer. Customer service
happened through a Piano Advice Hotline listed in the San Francisco Chronicle classified ads and
money transferred by a bank wire transfer when a sale was completed.[74][75]

1984: Gateshead SIS/Tesco is first B2C online shopping system[76] and Mrs Snowball, 72, is the
first online home shopper[77]

1984: In April 1984, CompuServe launches the Electronic Mall in the US and Canada. It is the first
comprehensive electronic commerce service.[78]

1989: In May 1989, Sequoia Data Corp. introduced Compumarket, the first internet based system
for e-commerce. Sellers and buyers could post items for sale and buyers could search the
database and make purchases with a credit card.

1990: Tim Berners-Lee writes the first web browser, WorldWideWeb, using a NeXT computer.[79]

1992: Book Stacks Unlimited in Cleveland opens a commercial sales website ([Link])
selling books online with credit card processing.

1993: Paget Press releases edition No. 3[80] of the first[81] app store, The Electronic
AppWrapper[82]

1994: Netscape releases the Navigator browser in October under the code name Mozilla.
Netscape 1.0 is introduced in late 1994 with SSL encryption that made transactions secure.

1994: Ipswitch IMail Server becomes the first software available online for sale and immediate
download via a partnership between Ipswitch, Inc. and OpenMarket.

1994: "Ten Summoner's Tales" by Sting becomes the first secure online purchase through
NetMarket.[83]

1995: The US National Science Foundation lifts its former strict prohibition of commercial
enterprise on the Internet.[84]

1995: Thursday 27 April 1995, the purchase of a book by Paul Stanfield, product manager for
CompuServe UK, from W H Smith's shop within CompuServe's UK Shopping Centre is the UK's first
national online shopping service secure transaction. The shopping service at launch featured W H
Smith, Tesco, Virgin Megastores/Our Price, Great Universal Stores (GUS), Interflora, Dixons Retail,
Past Times, PC World (retailer) and Innovations.

1995: Amazon is launched by Jeff Bezos.

1995: eBay is founded by computer programmer Pierre Omidyar as AuctionWeb. It is the first
online auction site supporting person-to-person transactions.[85]
1995: The first commercial-free 24-hour, internet-only radio stations, Radio HK and NetRadio start
broadcasting.

1996: The use of Excalibur BBS with replicated "storefronts" was an early implementation of
electronic commerce started by a group of SysOps in Australia and replicated to global partner
sites.

1998: Electronic postal stamps can be purchased and downloaded for printing from the Web.[86]

1999: Alibaba Group is established in China. [Link] sold for US$7.5 million to
eCompanies, which was purchased in 1997 for US$149,000. The peer-to-peer filesharing software
Napster launches. ATG Stores launches to sell decorative items for the home online.

1999: Global e-commerce reaches $150 billion[56]

2000: The dot-com bust.

2001: eBay has the largest userbase of any e-commerce site.[85]

2001: [Link] achieved profitability in December 2001.

2002: eBay acquires PayPal for $1.5 billion.[87] Niche retail companies Wayfair and NetShops are
founded with the concept of selling products through several targeted domains, rather than a
central portal.

2003: Amazon posts first yearly profit.

2004: [Link], China's first online B2B transaction platform, is established, forcing other B2B
sites to move away from the "yellow pages" model.[88]

2007: [Link] acquired by R.H. Donnelley for $345 million.[89]

2014: US e-commerce and online retail sales projected to reach $294 billion, an increase of 12
percent over 2013 and 9% of all retail sales.[90] Alibaba Group has the largest Initial public offering
ever, worth $25 billion.

2015: Amazon accounts for more than half of all e-commerce growth,[91] selling almost 500
Million SKU's in the US.

2016: The Government of India launches the BHIM UPI digital payment interface. In the year 2020
it has 2 billion digital payment transactions.[92][93]

2017: Retail e-commerce sales across the world reaches $2.304 trillion, which was a 24.8 percent
increase than previous year.[94]

2017: Global e-commerce transactions generate $29.267 trillion, including $25.516 trillion for
business-to-business (B2B) transactions and $3.851 trillion for business-to-consumer (B2C)
 sales.[95]

See also

Comparison of free software e-commerce web application frameworks

Comparison of shopping cart software

Customer intelligence

Digital economy

E-commerce credit card payment system

Electronic bill payment

Electronic money

Non-store retailing

Online shopping

Payments as a service

South Dakota v. Wayfair, Inc.

Types of e-commerce

Timeline of e-commerce

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Further reading

Laudon, Kenneth C.; Traver, Carol Guercio (2014). E-commerce: Business, Technology, Society (http
s://[Link]/books?id=-cgDnwEACAAJ) (10th ed.). Pearson plc.
ISBN 9781292009094. Archived ([Link]
[Link]/books?id=-cgDnwEACAAJ) from the original on 5 May 2021. Retrieved 5 May 2021.

Chaudhury, Abijit; Kuilboer, Jean-Pierre (2002). E-business and E-commerce Infrastructure:

Technologies Supporting the E-business Initiative ([Link]
IAAJ) . McGraw Hill Education. ISBN 9780071123136. Archived ([Link]
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May 2021. Retrieved 5 May 2021.

Frieden, Jonathan D.; Roche, Sean Patrick (2006). "E-Commerce: Legal Issues of the Online
Retailer in Virginia" ([Link] (PDF). Richmond
Journal of Law and Technology. 13 (2). Archived ([Link]
[Link] (PDF) from the original on 22
September 2020. Retrieved 5 May 2021.

Graham, Mark (2008). "Warped Geographies of Development: The Internet and Theories of
Economic Development" ([Link]
iles/[Link]) (PDF). Geography Compass. 2 (3). Blackwell publishing: 771–789.
Bibcode:2008GComp...2..771G ([Link] .
doi:10.1111/j.1749-8198.2008.00093.x ([Link] .
S2CID 16190907 ([Link] . Archived from the
original ([Link] (PDF) on 26 November 2016. Retrieved
5 May 2021 – via Wiley Online Library.

Humeau, Philippe; Jung, Matthieu (21 June 2013). In depth benchmark of 12 ecommerce solutions
([Link] (PDF). Archived ([Link]
[Link]/web/20210505004106/[Link]
(PDF) from the original on 5 May 2021. Retrieved 5 May 2021.
 Kessler, Michelle (22 December 2003), More shoppers proceed to checkout online ([Link]
[Link]/tech/news/2003-12-22-shoppers_x.htm) , archived ([Link]
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m) from the original on 31 December 2020, retrieved 5 May 2021

Lowry, Paul Benjamin; Wells, Taylor Michael; Moody, Greg; Humpherys, Sean; Kettles, Degan (3
February 2006), Online Payment Gateways Used to Facilitate E-Commerce Transactions and
Improve Risk Management ([Link]
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8) , vol. 17 (published January 2006), pp. 1–48, SSRN 879797 ([Link]
[Link]?abstract_id=879797) , archived ([Link]
s://[Link]/sol3/[Link]?abstract_id=879797) from the original on 5 May 2021,
retrieved 5 May 2021

Kotler, Philip (2009). Marketing Management ([Link]

_2) (4th ed.). Upper Saddle River, New Jersey: Prentice Hall. ISBN 9780136026600.
OCLC 1149204899 ([Link] . Retrieved 5 May 2021.

Miller, Roger LeRoy; Cross, Frank B. (2002). The Legal and E-Commerce Environment Today:
Business in Its Ethical, Regulatory, and International Setting ([Link]
wQ9AQAAIAAJ) (3rd ed.). South-Western. ISBN 9780324061888. Archived ([Link]
org/web/20210505004111/[Link] from the
original on 5 May 2021. Retrieved 5 May 2021.

Nissanoff, Daniel (2006). FutureShop: How the New Auction Culture Will Revolutionize the Way We
Buy, Sell and Get the Things We Really Want ([Link]
s) . New York City: The Penguin Press. ISBN 978-1-59420-077-9. OCLC 1149173925 ([Link]
[Link]/oclc/1149173925) . Retrieved 5 May 2021.

Seybold, Patricia B. (2001). The Customer Revolution ([Link]

00seyb) (1st ed.). New York City: Crown Business. ISBN 978-0-609-60772-5. OCLC 1148801120
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External links

E-Commerce Resources ([Link]

naging-business/running-business/using-technology/ecommerce-resources) , Small Business
Administration, archived from the original ([Link]
on 21 May 2017