E-Commerce applications began in the early 1970s with such innovation as electronic transfer of founds (EFT).

However, the applications were limited to large corporations and a few daring small business. Then came electronic data interchange (EDI),which automated routine transaction processing and extended EC to all industries.

In the early 1990s, EC applications expanded rapidly,following the commercialization of the internet and the introduction of the web. A major shakeout in EC activities began in 2000 and lasted about three years;hundreds of dot-com companies went out of business. Since 2003,EC has continued to show steady progress.

Today,most organizations are practicing some type of EC transaction.

Over the last 12 years,EC has continuously added products and services.

According to Forrest(June2006),EC retail sales in the United States grew from about $75 billion in 2002 to over $176 billion in 2005 and$ 211 billion in 2006.IN the same period, high-speed internet connection in the United States grew from 5 million. to over 75 million . Also, in addition to buying and selling on the internet,new services are booming.

EC Newcommers: Examples

• Bloggers __ There are millions of them.
• Chemistry will find you a perfect match if Match.com will not.
• Craigslist is a popular classifieds meeting place.
• Flicker__ This is a place for sharing photos and putting together aphoto album(a Yahoo! company)
• MySpace is a hip online hang out for over 50 million visitors.
• Pandora__ Customize and   share your own radio station.
• Wikipedia provides a free online encyclopedia and answers to “What is?”
• twitter
• Face book

• And etc.

Source of Article: Information Technology  for  Management  book (  TURBAN . LEIDNER  .  McLEAN )

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