Question

Please describe the three different stages in the evolution of e-commerce.

Answer 1

The evolution of e-commerce consists of three stages that include innovation, consolidation, and reinvention.

Innovation started from 1995 uptil 2000, identified with raging and optimistic dreams wherein markets were full of useful information, available to both the consumers and the suppliers. However, in the initial years, E-commerce was unable to fulfill these goals.

With 2000, came the second stage of e-commerce advancement, i.e., consolidation. Now, the traditional firms began to make use of Web services to augment their existing operations. The emphasis on introducing a number of fresh brands was slowed down.

E-commerce entered the final stage of advancement in 2006, i.e., reinvention. Social networks along with Web 2.0 applications renewed e-commerce into various scopes of extending operations and diversification. Also, it inspired the innovation of new business models into every business field.