The history of Online shopping takes us way back to 1979 a time before the internet even existed and an English man named Michael Aldrich, this man was an inventor and an entrepreneur, he came up with the idea of online transaction processing to enable transactions between consumers and businesses, or business to business transactions.
This was later on to become ecommerce or electronic commerce and this was the birth of online shopping and online transactions that we all use today.
The first business to business transaction took place in 1981 by a UK company called Thomson Holidays, and from 1982 online phone transactions for train travel and stock market prices could be made, and this all was available even before the advent of the World Wide Web that was not developed until the early 1990s by Tim Berners Lee, in 1984 the worlds first online purchase of goods was made by a shopper at a Tesco store, in 1985 vehicle manufacture Nissan makes the worlds first ever credit check.
The year is 1989 and the first online food and grocery shop has arrived they start trading as peapond.com, 1990 saw the creation of the World Wide Web server and online browsing had arrived in all its glory, by late 1991 the commercialization of the internet has started and the birth of e commerce, from 1991 through to around 1995 e commerce and online trading steadily grows and the online giant Amazon is born they started selling online books then diversified to just about evey product that is available today.
With the growth of online shops and hundreds of different products available, this saw the birth of online comparison and review websites which greatly helped customers in making choices on there purchases, and in 1998 Paypal was founded this revolutionized online shopping allowing money transactions with out the need to share customers financil information, this allowed customers more flexibility for purchasing using Paypal accounts that could be linked to there credit cards.
By 2003 online shopping was rapidly growing and the United States reached $50 billion dollars in online sales for the year, the same year saw Amazon make a yearly profit of $35 million dollars, by 2005 the social media scene was in full flight and social commerce emerges with consumers sharing and recommending products to there online friends through Face Book, by 2007 80% of the population have used online shops to make a purchase over the internet at some time.
By 2013 the United Kingdom sees Nintey one billion dollars in online sales for the year and in the United States 198 million people have purchased a product online in the first quarter of the year, today sees no relaxing of online sales and records continue to be broken, these days the smart phone is the number one choice for online shopping with 74% of the population using mobile devices to make online purchasers, and comsumers are not only buying from home they are purchasing goods while on the move, this rapid growth of online shopping is hurting the retail scene which are now starting to rethink how to attract new customers to there shops.