E-Commerce or Electronic Commerce is the process of buying and selling goods, services, information such as buying and selling shares, airline tickets, etc over the Internet. Sometime it referred to as E-Business because it is also about electronically discovering communication and collaborating information. E-commerce began in the early 1970 with electronic funds transfer (EFT) used by the banking industry to exchange account information and this process, Electronic Data Interchange (EDI). Late 1970s and early 1980s, larger corporations and companies started creating private networks to share information through EDI.Michael Aldrich, an English entrepreneur invented online shopping in 1979, and Mrs. Snowball was the first online home shopper.
In 1992, CompuServe offers online buy products to its customers, and that gives people the first chance to buy products off their computer. Netscape arrived in 1994, offers customers a simple and easy browser to surf the Internet called Secure Sockets Layer for a safe online transaction technology. Amazon.com, eBay.com andAnything.lk some biggest names in E-Commerce launched in 1995. But, at present, there are many other E-Commerce websites who deals in most important e-commerce categories today, which are computers, books, music and a variety of electronics like digital cameras and need to updated with business trends.
The growth of Internet has started from 1994, and more than 20 million hosts (web servers were in 1997, and reached over 160 million hosts till 2003 and more than 620 million in 2012. While, approx than 500 million pages (web content) were in 1997, and crossed 6 billion figures until 2003. There are numerous advantages of E-Commerce business. Customers can browse online stores like Amazon.com, eBay.com easily and can find exactly what they are looking for within a few clicks of the mouse. As the popularity of this business continues to grow, and is giving offers plenty of opportunities for entrepreneurs.
When we talk about ecommerce then we have some of most popular open source e-commerce web application or CMS those are providing features for creating online stores at most easy ways such as magento, OpenCart, osCommerce etc. There is no doubt that these application work as magic but while we have to choose one name among them for creating own store than magento become first choice among online shoppers as they provide many flexibility and use. The popularity can be measure only by seeing some past records of that “Magento ecommerce system has been widely adopted by online retailers with 150,000 sites known to use it, ranging from smaller ecommerce websites to large multinational businesses such as Harvey Nichols and Samsung”. On May 2010 magento came with mobile version and that was turning point while mobile took places as shopping store. Every year, several new trends coming in e-commerce as we have seen tremendous new changes in e-commerce from it’s starting. Some of the new trends in E-commerce today are Multichannel Retailing, Promotion through social media, always up-to-date content, new ways of payment, Personalization, Email marketing, Apps or mobile optimized website, Video marketing, 24/7 online customer service, Blogging, Customer feedback, Blogging and many more.
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