Economists describe four distinct waves (or purchase) that occurred in the industrial revolution. In each wave successful. electronic commerce and the information revolution brought about by the Internet likely go through such a series of waves.
*The first wave of electronic commerce: 1995-2003
The dotcom companies of the first wave are mostly American companies. Thereby their websites were only in English. The dotcom bubble had attracted huge investments to the first wave companies.
As the internet was a mere read-only web (web 1.0) and network technology was in its beginning stage, the bandwidth and network security was very low. Only EDI and unstructured E-mails reminded as a mode of information exchange between businesses. But the first wave companies enjoyed the first-move advantage and customers were left with no option.
*The second wave of electronic commerce 2004-2009
The second wave is the rebirth of E-commerce after the dotcom burst. The second wave is considered as the global wave, with sellers doing business in many countries and in many languages. Language translation and currency conversion were focused in the second wave websites. The second companies used their own internal funds and gradually expanded their E-commerce opportunities. As a result E-commerce growth was slow and steady. The rapid development of network technologies and interactive web (web 2.0, a period of social media) offered the consumer more choices of buying. The increased web users nourished E-commerce companies (mostly B2C companies) during the second wave.
*The third wave of electronic commerce: 2010-present
The third wave is brought on by mobile technologies. It connects users for real-time and on-demand transactions via mobile technologies. The term web 3.0, summarizes the various characteristics of the future internet which include Artificial Intelligence, semantic web, generic database, etc.
0 Comments
Please Don't Post Spam Comments