The history of ecommerce started off with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. The consumer purchased a product from a business through the World Wide Web—or “ecommerce” as we commonly know it today.
E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet and the transfer of money and data to execute these transactions. E-commerce is also known as electronic commerce or internet commerce. Electronic commerce plays on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange, inventory management systems, and automated data collection systems. E-commerce is in turn driven by the technological advances of the semiconductor industry, and is the largest sector of the electronics industry.
There are three areas of e-commerce: online retailing, electronic markets, and online auctions. E-commerce is supported by electronic business. Independent freelancers, small businesses, and large corporations have all benefited from ecommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail.
There are four main types of ecommerce models that can describe almost every transaction that takes place between consumers and businesses.
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