Electronic commerce is a business system that through Information and Communication Technologies (ICT) is getting stronger every day, receiving great acceptance among sellers and buyers since it allows companies to conduct their business transactions in a more efficient and flexible way.
This is how someone goes from just having a physical establishment to having an online shop easily accessible all around the world, which allows you to reach millions of people and expand your market. Consumers, in the meantime, can acquire products and services from any place through their mobile devices.
The most outstanding example of this commercial activity, one that soared to success since adopting the e-Commerce system, is Amazon. The company is known as the King of electronic commerce and is regarded as one of the first that bet on the internet to sell products.
Based in Seattle, Washington, Amazon currently offers different products, ranging from books and software to clothes and home appliances.
Founded on July 16, 1995 by Jeffrey Bezos, a 34 year old entrepreneur and futurist -claimed by Time magazine as the king of cyber-commerce- it was one of the first major companies to sell books online.
Bezos (Jan. 12, 1964, Albuquerque, NM) graduated from Princeton University with a Bachelor of Science degrees in electrical engineering and computer science, and envisioned an unusual business: an online bookstore named Cadabra.com. He quit his job in Wall Street to begin his own company with the vision of what the internet would become in the near future.
Since then, Bezos thought that the network would become massive and accessible for all the markets. He wasn’t wrong.
From his garage and with only three computers, he launched Cadabra.com, where he started by offering a catalog of online books from different publishers. He later named the company Amazon, nowadays one of the world’s most prestigious companies.
Amazon.com is the world’s biggest bookstore. Its name is inspired by the Amazon River, the world’s longest river and an “exotic and unique” place, just like Bezos envisioned its company, with dreams of becoming the biggest in the world.
The company grew exponentially from the outset and got increasingly present on the internet. Just 30 days after its launching and without advertising, Amazon.com was selling books in all 50 states in the U.S. and 45 additional countries. In a matter of two months, its sales reached $20,000 USD a week.
By 1996, the website had 2,000 daily visitors, and a year later that number was multiplied by 25. It was such a success by 1997, that it became one of the internet’s most important companies.
It was thanks to this commercial success that Amazon expanded and began selling DVDs, CDs, software, videogames, electronics, clothes, furniture and other products, achieving Bezos vision to become the world's largest online shopping retailer.
The e-Commerce giant currently delivers food, shoes and even toilet paper and diapers through the websites it has acquired to expand its business. And everything Bezos and Amazon have achieved has been possible thanks to the internet and this extraordinary business model known as electronic commerce.
By Ana María Morales
Source: Economía Hoy