How the History of E-Commerce Has Evolved to Help Home-Based Businesses

The history of e-commerce started almost forty years ago but started gaining momentum in 1991 when the internet was first embraced by business users. Since then, businesses have taken up permanent residence on the net and have chosen to maximize the benefits that come from its use.

It was originally taken to mean the process of conducting transactions electronically using technologies such as electronic data interchange and electronic funds transfer, which came to prominence in the 1970s. The Boston Computer Exchange was indeed the first known example of e-commerce in the 1980s. potential of the Internet and its prospects for serving a global clientele electronically.

It is becoming more and more popular for people to shop on the web for the simple reason that it allows them to do their work at their own time as opposed to the conventional ways we know, in fact people can even do their shopping in the privacy of their room. thanks to the Internet. Home-based businesses have gained enormously due to developments arising from this rich history of e-commerce.

Take electronic data interchange for one that allows home-based businesses to exchange important documents with their customers without having to travel. On the other hand, electronic funds transfer has enabled home-based businesses in remote locations without spending an extra penny to obtain payment for services already offered. These two developments have therefore made life easier for home business owners.

Most companies in Europe and the United States actually created their first e-commerce websites between the years 1998 and 2000, although they were rather skeptical after the events of the dotcom meltdown of 2000. Those who have had the courage to stand up and meet the challenges offered by the Internet reaped its rewards when the following year, online business-to-business transactions accounted for more than $700 billion in sales.

The history of e-commerce is therefore backed up by hard evidence in terms of revenue that can be solely attributed to its use. Home businesses can also improve their income by taking up permanent residence on the net. This way, they would be able to reach a wider variety of customers and would therefore be poised to significantly improve their ROI.

The year 1994 was significant in the history of e-commerce as it saw the introduction of security protocols and high-speed Internet connectivity. This meant that connection speeds would improve dramatically and allow for near real-time transactions. With faster online transaction capability, e-commerce has grown rapidly. Home-based businesses stand to benefit greatly from this phenomenon as it means their dealings with customers will now be fast, so there will be no more lag time between transactions. Service delivery will definitely improve, leaving most of their customers satisfied and definitely yearning for more. For their part, home business owners will not be put on hold waiting for customer feedback. Most transactions will now take place in real time, which means that there will be almost instantaneous communication.

In conclusion, home-based businesses should take inspiration from established internet companies that have taken full advantage of the internet and its e-commerce capability to become the most respected companies in the world such as Amazon and eBay. Not that they haven’t had their fair share of downsides over the years. The important thing is that they had the temerity to fight back and see where they are today. Home-based business owners shouldn’t be intimidated by the length and breadth of their resources and have that as an excuse not to venture out there and tap into this rich e-commerce history.

Leave a Comment

Your email address will not be published. Required fields are marked *