Typically, commerce takes place when the exchange of money for goods or services happens within a store or as a transaction between two or more people. For centuries, this was done either in an actual store, through businesses making in-person deals, or via other means where the transaction was “hands on.” In the mid-1990s however, electronic commerce, or e-commerce as it is widely known, suddenly became much more commonplace. The ability to make a purchase solely online without having to leave the home was a new, novel idea that has since changed the face of business. Websites such as Amazon.com and Ebay.com were pioneers in this field.
Today, there are thousands of e-commerce websites that people can purchase items from. Everything from books and clothing to furniture and groceries can now be bought through a website, and it all has an effect on our economy. Even servicing a car or making a doctor’s appointment can be done through the Internet. It seems that electronic commerce is growing more rapidly every day. And it’s not just limited to the United States; the potential for e-commerce to grow worldwide is staggering.
Not only does electronic commerce affect the economy, but it also has a large affect on the job market as well. It creates new positions in data entry, website creation and maintenance, credit card processing, Internet security, and inventory management, just to name a few. The fact that a new niche has become so popular is good news for people from all kinds of backgrounds.
E-commerce has made a profound impact on society. People can now shop online in the privacy of their own homes without ever having to leave. This can force larger brick and mortar retailers to open an online division. In some cases, it can also force smaller businesses to shut their doors, or change to being completely online. It also changes the way people look at making purchases and spending money.
Electronic Commerce has changed the face of retail, services, and other things that make our economy work. Undoubtedly, it will continue to influence how companies sell and market their products, as well as how people choose to make purchases for many years to come.