The idea of E-Commerce was first conceived during the initial years of Videotex, when people realized the need for transmitting interactive content to television sets. Researchers started working on this idea during the early 1960s, and the proposition of electronic trade finally matured when Michael Aldrich from Redifon Computers came out with the business plan of teleshopping.
Videotexting online service began in 1982 in France by means of telephone cables, however, this model never witnessed success in the UK. It happened to be a grand success until the World Wide Web came into existence.
The Videotex scientists working with solutions like “Compuserve” and “The Source” in 1979 created Swreg in 1987, which was made to be born out of a desire to carve out a customer-oriented payment processing solution, and whose intended users will be shareware authors and software developers. The Swerg enabled the first ever online marketplace for the community of developers.
One CERN-scientist, Tim Berners-Lee, coded the world’s first ever web client called the WorldWideWeb browser in 1990; which transformed almost all research methods and the various ways of trade practices. Netscape launched the world’s first ever GUI (graphical user interface) browser known as the Netscape Navigator in 1994, where the user can type a human-readable address to go to a web page. People started using for various tasks; such as navigating stock prices, ordering pizzas online, or exploring numerous products available online.
The online transactions and trades compelled every enterprise to have a “com” type domain (.com). The first iteration of the Netscape browser came with SSL (secure socket layer) encryption to ensure secure online transactions. Amazon started selling everything online, and programmer Pierre Omidyar founded E-bay, i.e., the virtual auction house.
The postal department of the US went online, and several business takeovers took place in the technological sector. Finally, the Dot Com bubble got busted in 2000 with the fated crashing of tech-stocks. Paypal came into existence to handle the monetary transactions online. When money was involved in doing business over the internet “PayPal” was launched and practically has a share of 70% to date, it provides a facility for online payment.
The extremely competitive electronic market gave way to the novel and innovative strategies like discount codes for increasing the online market outreach and also for the retention of the present clientele.