subject: History of Online Ecommerce – Shopping on the Net [print this page] History of Online Ecommerce Shopping on the Net
Internet was the brain child of a gentleman known as Tim Berners Lee, who made a proclamation at CERN about the creation of a browser and supporting server. The way inventions are guarded today, with immediate patent applications to prevent copyright infringements. Tim Berners Lee, would have richer than Bill gates today and would have owned the entire internet. Imagine, we paying Mr. Lee a royalty for each click on the internet browser. Before Mr. Lee's invention, US Defence had a pet project known as ARPANET to have fast communication between defence institutions. Combining both the technologies, we have the internet as we know it today a collection of connected computers that function through special gateways or routers. This development had wide implications, and in 1994 Netscape developed SSL encryption technology to enable secure communication between two transacting parties. Initially, it was meant for transaction for banking and financial institutions. However, in 1994 - Pizza Hut, the retail restaurant chain made the initial foray into taking orders online and delivering pizzas through their delivery boys. Same year the German retail company, include d an online shopping system to its website. Across in America, in two consecutive years Amazon in 1995 and Ebay in 1996 were established and ne w business model came into existence. They both become the benchmark names for online shopping as we know it today.
During the blood-bath of the early 2000, when majority of online companies went bust. Amazon and Ebay came out resilient and started making profits. The fact that both these companies had a plan for revenue generation made for all the difference; rest were based on ideas, without a resultant revenue stream. In fact, all online retailers offer a service to a seller, by providing real-estate in cyberspace to display products. In the initial phases of the internet, these were pure players, without any background in retail. However, as we speak today more and more companies are convinced about the potential of online commerce. Dell Inc. is shinning example of a company making a direct connect with the customers and cancelling out the middle man. This approach made it tackle customer concerns directly, without dilution.
Technology has indeed changed the way we conduct ourselves in the world. Laptops, cameras, mobile-phones, internet all are offshoots of an innovation. However, online shopping still would not give you the freedom to physically feel' the product, we are going to purchase. Well, then as someone has said we cannot be served everything on the platter.
welcome to Insurances.net (https://www.insurances.net)
