With the advent of the Internet in the last century, e-commerce became possible for the first time, as the ability to buy and sell products became available to everyone from anywhere in the world. Thanks to technological developments, online stores have become easier and safer, which has greatly increased their spread and growth.
The beginning of e-commerce.
E-commerce companies began to emerge in the early 1990s, as this decade witnessed the launch of many pioneering electronic platforms that paved the way for the significant growth of e-commerce in the years that followed. In 1992, Book Stacks Unlimited launched the first electronic market for book trade. It initially relied on phone calls, then in 1994, it turned into a website. In 1995, Jeff Bezos launched the famous Amazon store, and Pierre Omidyar followed suit by launching the AuctionWeb store, which is known today as eBay. Only three years after the launch of these electronic stores, what we now know as PayPal appeared, which is an electronic payment system that greatly contributed to facilitating the electronic purchasing process. Dozens of international websites and services were launched at the beginning of the current century, contributing to making e-commerce what it is today. The expansion process in the field of e-commerce is continuing, as hundreds of websites and other services have been launched that contribute to improving the commerce and purchasing experience. Not to mention the developments that occurred in the sites on the previous list, which contributed to making e-commerce one of the most growth-producing fields in the world, as e-commerce sales in 2022 exceeded $5 trillion, and it is expected to continue to grow in the coming years.
Types of e-commerce
E-commerce is classified into four main sections, based on the relationship between the customer and the merchant, which are as follows:
- Business-to-business (B2B) trade: These are commercial transactions that take place between companies, such as purchasing raw materials, equipment, or services.
- Business-to-consumer (B2C) commerce: These are commercial transactions that take place between companies and consumers, such as purchasing products or services over the Internet.
- Consumer-to-consumer (C2C) commerce: These are commercial transactions that take place between individuals, such as buying and selling used products over the Internet.
- Consumer-to-business (C2B) commerce: These are commercial transactions that take place between individuals and companies, such as selling products or services that individuals manufacture to companies.
How to start in e-commerce?
To successfully start e-commerce, you need to set a clear and specific goal in mind and plan your journey carefully. Achieving quick profit is just a false illusion, and successful people participate in e-commerce by following a clear business map that helps them enter the world of e-commerce and make a profit from it.
- Study the feasibility of your e-commerce project
- Adopt an appropriate business model
- Choose suitable products
- Calculate the costs of establishing an online store
- Select appropriate e-commerce payment methods
- Create your online store
There is no doubt that e-commerce is constantly growing, as the size of the e-commerce market in 2021 reached about $5.2 trillion, and this number rose to $6.3 trillion in 2023 and is expected to reach $8.1 trillion in 2026. This accelerated growth reflects the extent to which e-commerce will flourish in the future, especially with the emergence of new trends such as the use of artificial intelligence and virtual and augmented reality to provide a more comfortable and efficient shopping experience.