E-commerce is not a completely new type of commerce. The down of E-commerce started a few decades ago and continues to grow exponentially. It first emerged on private networks in 1970. Electronic data interchanges and teleshopping together paved the way for E-commerce. The history of modern E-commerce is closely twisted together with the history of the internet. E-commerce became really possible when the internet was opened to commercial use. Online shopping started to grow when the national science foundation opened the internet to the public in 1991. Since then businesses have reached websites.
With the progress of internet technology and vastly developed global internet community, a large number of dotcoms, FinTech, and internet startups have appeared and a strong foundation of electronic commerce continues to build.
The internet has provided new commercial potential not only for large organizations but also provided a sustainable entry point for small and medium-sized enterprises (SMEs) of E-commerce. Today, E-commerce is no longer exclusive. the domain of large organizations or private networks.
Even though E-commerce has been existing since a few decades, It has recently sustained significant growth. It is on the grounds that the web has changed from a helper correspondence vehicle of scholastics and large organizations to an entrenched communication medium that extends nearly to all parts of mainstream society. Integrated with the commercialization of the Internet, Personal and electronic payment system together made E-commerce flourish.
The growth of E-commerce is also related to socio-technology changes. The more, the medium becomes deep-rooted, the more, are the users drawn market. As the markets expand, more business organizations are attracted. The more businesses accumulate it creates competition. The competition leads to innovation; innovation, in turn, drives the development of technology; technology facilities E-commerce growth.
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