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Those who have studied the history of ecommerce have found that it is rather interesting. Since it’s humble roots, e commerce has changed and grown. It started as a mere idea in the seventies, and has grown into an enterprise that the world could not live without. Not only has it changed our economy from the inside out, it has also allowed many to work from home. But where did the term e commerce come from? Well in the beginning it was called Electronic Data Transfer or EDT. There was also Electronic Funds Transfer, which was the only way to transfer money back in the day.

In 1982 and throughout the 1980s, several online market places were started. Websites were designed and hosted and there was an increased proliferation of credit cards, ATMs, and telephone banking services. All these marked a major milestone in the evolution of the history of e commerce. Used computer parts were advertised and sold through e commerce from places as far as the Boston computer exchange market, to other parts of the world.

The mid nineties were a major point in the history of e commerce. This is due largely because of a major leap forward in technology. The first static web page was created, and it was a page that could link everyone to the online business world. Things had changed, and actually put many other marketing techniques out of business. E commerce had changed the world for the better. In many ways it has brought us closer together, and today e commerce websites are easier to use than ever before.

With the evolution of the internet, new ways to receive videos and music popped up. Uploading and downloading for those who wanted to sign up for a subscription became quite possible, even though this opened up an avenue for those with less than honorable intentions. The economy shot straight up like a firecracker and people were able to stop going to work. They could make money online easily, and low income families were suddenly shooting straight up to the level of the middle class.

It only took one year for e commerce to go from an industry of tens of billions per year, to over seven hundred billions per year. For an experiment that many thought would never work, it has certainly proven itself over the years. In fact, many people find that they cannot live without it.

The health of the world economic giants and the economical pathfinders heavily rests on e commerce. Companies continue to post profit returns that are beyond any CEO’s wildest dreams. E commerce sales have continued to grow and today, they account for close to 5% of total sales, globally and this figure seems to be rising almost by the hour. Thanks to the history of e commerce, it is now the stress-free electronic transaction choice of all time and the global economy heavily depends on e commerce that is only a click of a button away and so user and consumer friendly. Read the Rich Schefren blog to learn more.

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