Digital Growth and the Past and Future of E-commerce

E-commerce and growth are practically synonymous. In the last decade and a half, the growth of e-commerce companies has soared. Growth projections for e-commerce is more continued growth. In spite of this huge growth, there are still many opportunities for the future of e-commerce. The popularity and growth of e-commerce makes complete sense. It’s so much easier to do your shopping in the comfort of your own home. A couple clicks and a credit card number and in a couple of days you will have the products you ordered waiting for you on your doorstep. There are even new services that will put the items in your home for you or the trunk of your car if you are at work.

Digital Growth and the Past and Future of E-commerce

The Beginning of E-commerce

For most of us, when we think of the beginning of e-commerce, we think of our first orders on Amazon or eBay. Although, the very first e-commerce site was actually CompuServe. This was a commercial online service originally founded in 1969, and it became popular in the 1980s to mid-1990s. It was known for online chat, forums, and software libraries. All of the services were digital, but it was an e-commerce platform.

The First Online Bookstore

In 1992, a fellow by the name of Charles M. Stack introduced a bookstore called Book Stacks Unlimited. In 1994, this site went from operating on a dial-up bulletin board to operating on the Internet under the moniker of books.com. In 1995, another e-commerce platform for books was introduced. A guy by the name of Jeff Bezos started Amazon as a bookstore. During the same year, a fellow named Pierre Omidyar started AuctionWeb which is now known as eBay. The world’s second online bookstore has come a long way. Amazon is always offering innovative products and services. Including a large selection of products by third-party sellers.

Time for an E-commerce Payment System

In 1998, a money transfer tool called Confinity began. It later became PayPal. Alibaba was launched in 1999, and in 2000, Google’s online advertising tool called AdWords began. Other launches in the mid-2000s include Amazon prime, Etsy, and Square. From humble beginnings, the huge potential of e-commerce began. Even big-box retailers have no option but to embrace the online marketplace. This current online race is only good for consumers. We get to stay home and shop at our own convenience while the retailers compete to create better shopping experiences and offer faster and cheaper shipping.

It’s Not Too Late

Individuals and small businesses wanting to cash in on this exponential online growth are creating websites, online stores, and e-commerce websites to reach more customers and create more revenue. If you want to join in, don’t be held back by the technical requirements of creating, owning, and operating an online store. There are tons of platforms and online resources that can help you begin. Magento is a flexible and scalable e-commerce platform. A trustworthy Magento Resource can have you up and running very quickly. Whether you are a small or large business, it is possible to create your own website and make your mark in the world of online retail. In spite of recent growth, the outlook is good and there is still a lot of opportunity out there.