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the history of eCommerce - part 3



The History of eCommerce: Part 3

Part 3

In parts one and two of this series, we outlined some of the major milestones that set the groundwork for ecommerce as we know it today. In this last installment, we’ll cover some of the more recent developments in the history of online commerce.

2003
Apple® launches the iTunes® store. (1)

2004
The Payment Card Industry Security Standards Council® is formed to help ensure that online businesses meet compliance requirements for account data protection. (2)

2007
Sales of apparel exceed sales of computers for the first time in the history of internet commerce. (3)

2008
The first Free Shipping Day® is held, where retailers unite on the last possible day before the Christmas holiday to offer free shipping and guaranteed delivery by Christmas. (4)

2010
Daily deal sites take ecommerce by storm. Amazon.com invests $175 million in local deals site Living Social® while Groupon™ turns down a proposed $6 billion acquisition offer from Google®. (5,6)

2014
Forrester® predicts that total U.S. ecommerce sales will reach $414 billion by 2018. (7)

So there you have it, a brief history of ecommerce. Where will the future take us? Only time will tell. If history is any guide, one can only guess that the pace of innovation will continue to accelerate.
 

1 Wikipedia, http://en.wikipedia.org/wiki/ITunes_Store

2 PCI Security Standards Council, https://www.pcisecuritystandards.org/security_standards/role_of_pci_council.php

3 Internet Retailer, https://www.internetretailer.com/2009/02/26/the-history-of-e-commerce, 2009.

4 Kinoli Inc., http://www.freeshippingday.com/about/

5 TechCrunch, http://techcrunch.com/2010/12/02/livingsocial-confirms-175-million-amazon-investment/, 2010.

6 Business Insider, http://www.businessinsider.com/why-groupon-said-no-to-google-2010-12, 2010.

7 Forrester, https://www.forrester.com/US+Mobile+And+Tablet+Commerce+To+Top+293B+by+2018+Total+eCommerce+To+Hit+414B/-/E-PRE7004, 2014.

 

Amazon.com, Apple, Free Shipping Day, Google, Groupon, iTunes, Living Social, and Payment Card Industry Security Standards are registered or unregistered marks belonging to one or more unaffiliated third parties that do not endorse or sponsor Vantiv Integrated Payments, LLC.

 

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