Electronic Commerce formerly known as eCommerce is the place where you can buy and sell products or services via internet. Nowadays the thought of living without eCommerce seems complicated and inconvenience to many. eCommerce became possible in 1991 when internet was opened for the use of commercial purposes. But the electronic data exchanging and tele-shopping appeared in the late of 1970s.
Michael Aldrich introduced the first online shopping in the United Kingdom in 1979. He connected a modified TV to a transaction-processing computer via a telephone line to a real-time multi-user transaction processing computer. The technology came to market in 1980. In 1992, Charles M. Stack created an online bookstore named as Book Stacks Unlimited which was the earliest consumer shopping experience. It was the ever first online store two years before Jeff Bezos found Amazon. Amazon and eBay launched in 1995 and these two web sites becomes the pioneer of eCommerce store.
Today, eCommerce is used by millions on daily basis. The new technologies and innovations helped drive worldwide eCommerce sales to approximately $2.8 trillion in sales in 2018. It is expected that the sales will hit $4.5 trillion by 2021. The team of Subscriptionly.net has illustrated 60 stats and trends for 2019 & Beyond that will define the future of eCommerce[Infographic].
Here is the summary of the key points of that graph.
- Personalized Experience.
- Multiple Shopping Channels.
- Customer Service Automation.
- Cryptocurrencies as a payment method.
- On-site and in-app mobile commerce.
- Same-Day Delivery.
- Curation and Pay Monthly Models.
- The Future of Delivery Services.
- Content – Increasing video use recognition.
- Pop up Shops.
Infograph of Future eCommerce
Though the above stats show that consumers will spend more money on personalized products like subscription boxes, but you can sell any product online. Once you will take the decision to sell any products then the next first step will be for you to choose the right platform. Keep in mind that your platform is the backbone of your online store!