In 1994 the foundation stone for a success story was laid with the establishment of the first online retailer in Seattle – Amazon. This marked the start of a revolutionary industry, and since then e-commerce has been experiencing an unbroken boom and is seriously competing with brick-and-mortar retail.

The ability to shop from anywhere at any time is creating a completely new buying behavior among customers.

From bookseller to a department store

The opening of the Internet caused a real frenzy in the nineties, new business models emerged and revolutionized retail in particular. For example, Amazon’s success is unmatched yet, even if many have tried a copy.

The company began as an outspoken bookseller and is now one of the world’s most important booksellers as well as one of the largest online department stores with annual sales of over 34 billion US dollars.

The history of the eBay auction house, founded in 1995, is just as impressive because this completely new way of buying and selling brought a new form of trade and since then has offered everyone the opportunity to auction their goods online.

New online shops in all industries

Nowadays it is completely normal for producers and service providers from all industries to also offer their goods online and thus increase their sales. Consumers are not only private individuals who are increasingly using e-commerce for all areas of life, but also in the B2B area, in particular, sales are processed.

Also, customer reviews for online shops are becoming more and more important in this context, especially for smaller shops.

The enormous advantages of these flexible and time-unlimited ordering and purchasing options lie not only in the costs but in particular in the effective possibilities of being able to compare prices comprehensively and quickly.

New business models and new online shops are constantly emerging because, for example, retailers and small companies have discovered this distribution channel for themselves.

It is significant that marketing has also adjusted to the potential of e-commerce and has successfully responded to this huge market with special strategies for online marketing.

E-commerce – not just a distribution channel

Impressive stories, such as Amazon, eBay, and, for some years now, Zalando, show the great success of e-commerce. But not only do the big players make the best use of this potential, but many small and medium-sized companies and also the retail sector also conduct a large part of their business on the Internet.

This creates effective opportunities for consumers to permanently compare prices and offers and thus benefit from the high level of transparency.

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Author

Mohit Sharma, He has worked with various business magazines like Business Today,He is an addicted reader of self-help books, fiction, and journals

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