E-commerce

Over the past years, the inception of the Internet has profoundly changed how people buy and sell products and services. The amount of trade conduct has grown rapidly over the Internet, that it is hard to imagine conducting business without going online. The use of trade and commerce with the assistance of the Internet technology is commonly referred to as E-Commerce of electronic marketing. By definition the term E-Commerce applies to the buying and selling of products and services to accomplish business transactions through the use of electronic techniques such as the electronic mail or messaging, worldwide web, purchase cards, electronic fund transfers, electronic bulletin boards and electronic data interchange (US Department of State, 2009).
    The Pew Internet and American Life Project stated that about 66 of American adults have purchased something online, whether it is a book, clothes or even a cruise. However, if the definition of E-Commerce is extended to include the researching of both products and services over the Internet without the intention of buying, or to bid on an auction but not winning, it was found out that the number of adult participants of E-Commerce reaches to 93. Even with a slumping global economy, online retail business continue to rise (Pew Internet and American Life Project, 2008 cited in Roos, 2009). Hence, E-Commerce is indeed the new trend of doing business transactions.
    The history of E-commerce is short but truly outstanding. Within a few years, the process of networking and computing has significantly improved. As far back as 1960s, many businesses have used primitive computer networks to facilitate electronic transactions. Technologies such as electronic data interchange (EDI) allowed companies to share business documents like invoices, order forms and the likes. By 1979, the American National Standards Institute (ANSI) came up with the universal business standard of document formatting known as the ASC X12 over electronic networks.
    In 1971, Terminal Interface Processor (TIP), which was used for dialing into ARPAnet from individual computer terminals was then developed. Yet, it was in 1982 that the greatest evolution in networking was created the Transmission Control Protocol and Internet Protocol (TCPIP), the packet-switched technology that also runs the modern Internet. From  the early 1980s  use of individual computers has been introduced but were mostly accessible in major research universities only. It is also during this period that emails, listservs, newsgroups, and document sharing over networks such as BITNET and USENET were introduced. Similarly, CompuServe, which was one of the earliest and first networking services for home PC users, became popular . This system created tools such as message boards, chat rooms and emails, and established  one of the first examples of E-Commerce, a service called Electronic Mall, wherein users could directly buy items from online merchants (Smart Computing, 2009 cited in Roos, 2009).
    In 1990, Tim Berners-Lee invented the world wide web, which significantly transformed telecommunication and business networking. It should be understood that until 1991 commercial enterprising over the internet was strictly prohibited, but the National Science Foundation lifted such ban, paving way for online based e-commerce. Since then various businesses has grown incessantly over the Internet. However, it was during the 1990s that two companies were noted to have transformed the process of e-commerce Amazon and Ebay. Within the span of 15 years Amazon evolved as the most successful online bookstore, while Ebay leveled to Amazons playing field by facilitating online auctions that can be participated by people from all walks of life. Both Ebay and Amazon revolutionized how e-commerce is carried out (Roos, 2009).
    Based from the given perspectives, it can be inferred that E-Commerce indeed revolutionized the process of  product and services commercialization. The presence of the Internet along with other electronic technologies made it possible for buying and selling products and services to become faster, convenient and accessible to everyone, which can be considered as the most important developments in the field of commerce.