September 19, 2023
The evolution of e-commerce, spanning from its inception in the 1970s to its current status as a $22 trillion industry, is traced through key milestones. Beginning with electronic fund transfer (EFT), the journey includes breakthroughs like online purchases in 1971, Michael Aldrich's online shopping concept in 1979, and the introduction of Netscape Navigator in 1994, ushering in widespread online shopping. Amazon's establishment in 1995 marked a pivotal moment, followed by the founding of PayPal in 1997, revolutionizing online payments. The expansion continued with innovations like Kindle e-reader, Prime shipping, and AI-driven advancements, solidifying e-commerce's integral role in modern business. The four primary types of e-commerce – B2C, B2B, C2C, and C2B – are also explored, showcasing the diverse landscape of online transactions. The abstract emphasizes the industry's dynamic growth and encourages businesses to embrace the evolving realm of e-commerce.