Timeline of E-commerce (2008-2024) by Kunsang Sherpa

2012: Food shopping goes virtual

kunsangs2 — 2024-10-15 13:31:26 UTC

Since grocery delivery services failed, food shopping finally became successful in 2012 with the founding Instacart. The first website of online shopping was called Boston Computer exchange

2017: E-commerce remains unstoppable

kunsangs2 — 2024-10-15 13:33:02 UTC

As brick-and-mortar sales decline, global e-commerce transactions soar, generating $29.267 trillion, including $25.516 trillion for B2B transactions and $3.851 trillion for B2C sales.

2020: Covid-19 Boost

kunsangs2 — 2024-10-15 13:35:00 UTC

The pandemic had caused a lockdown everywhere, and since people couldn't buy stuff in person they had to do it online.

2006-2010: Rise of Ecommerce Platforms

kunsangs2 — 2024-10-15 13:36:25 UTC

E-commerce companies and stores steadily regained momentum, and new ecommerce platforms emerged.

2021: The rise of the Buy Now, Pay Later option

kunsangs2 — 2024-10-15 13:38:39 UTC

BPNL has been around since the 1980’s but saw a huge surge of 230% in 2021 with the popularity of Afterpay, Affirm, and Klarna. These tools are backed by financial institutions and provide digital buyers a safe way to finance their purchases.

2022

kunsangs2 — 2024-10-16 12:57:27 UTC

Online retail sales, excluding travel, surpassed $1 trillion during 2024 “for the first time in history,” according to Comscore’s State of Digital Commerce report.

2024

kunsangs2 — 2024-10-16 12:59:07 UTC

In 2024, the potential for increased conversion rates, basket sizes and consumer engagement online through AI advertisements will outweigh the risks of getting it wrong, as long as retailers have the right digital expertise and quality assurance practices in place.