We are in the world where technology has taken over the life of people. Not only it makes their life convenient, but brought about immense revolutionary changes in many fields of work and in the day to day life. The business field is no exception to it as it has made merchants attain huge heights in their business with the help of ecommerce software. Let's take a deep look on the growth of ecommerce in the on-line world.
Ecommerce in Past(1990-2000)
The year 1991 marked a history in the on-line world where ecommerce and ecommerce software became a hot choice after the Internet was started to be used for commercial purpose. It was the time where business information and transactions were being carried out on-line by using technologies such as Electronic Data Interchange(EDI) and Electronic Fund Transfer(EFT).
The secured on-line transactions became possible by the year 1994 where protocols were being developed for security. In 2000 most of the western countries began to set up their business on-line and it gave a new meaning to ecommerce.
Ecommerce in present(2000-2013)
The growing number of Internet users has led to the expansion of the on-line ecommerce . From that time onwards, the ecommerce industry attained a stable growth where ecommerce software were being used to set-up the online stores. Amazon and Ebay are the perfect examples that have succeeded in ecommerce world. The annual turnover of both these firms are increasing year by year and now they are the gigantic leaders in the ecommerce industry. Here are some of the interesting facts about Amazon and Ebay.
- Founded in 1995.
- Initially the annual revenue income of Ebay was $4.7 million but at present the annual turn is estimated to be over $14.7 billion.
- At that time of starting up, there were only 30 employees but now there are approximately 28,000 employees working in Ebay.
- The operations are being setup over 30 countries.
- Founded in 1994.
- Initially the revenue of amazon was $80,000 per month. At the end of 2012 the revenue increased to $61.09 billion.
- There were only a hundred employees in the past. Currently, there are approximately 80,000 employees in Amazon.
The above details would give a clear cut idea regarding the growth of these two firms in the Ecommerce world. No wonder most of the firms began to use ecommerce software for creating instant on-line websites.
Ecommerce in Future
We all know that the ecommerce sales reached $1 trillion for the first time in 2012. According to the market study, the sales would grow up to 18.3% this year. It is estimated that the sales will reach to $1.298 trillion by the end of the year.
The major contributors to the growth of ecommerce are Asia, Europe, America and Africa. North America alone contributes to nearly half of the ecommerce's market share. Clearly the study indicates that the ecommerce sales would definitely increase over the years and all this is due to ecommerce software and technology.