The evolution of e-commerce: AI-powered personalization

The purchase of basic goods and services are the basic needs of every person. Trade is an essential part of our lives because it helps us get what we want. However, the rise of e-commerce on the Internet has changed our shopping experience.

Because every great thing is the product of a revolutionary idea, e-commerce is a gripping story. From the idea of ​​online shopping to the creation of eBay and Shopify, the evolution of e-commerce has many unique developments to discover.

This article is a guide to understanding the concept behind the global e-commerce phenomenon. You will learn the timeline for creating perfect and personalized e-commerce platforms based on artificial intelligence.

E-commerce: a revolutionary shopping experience

The development of the Internet and its use has attracted users and suppliers to take advantage of the convenience offered by modern methods. In this way, online shopping provides unparalleled ease and security when buying and selling goods and services online.

As different companies have understood the lucrative opportunities of online shopping, they have developed different platforms. For example, Amazon, Shopify, eBay, etc. are some of the best e-commerce platforms that generate huge revenues all over the world.

Statista suggests that e-commerce revenues are trending upwards, with an annual growth rate of 9.49% and projected to reach $6,478 billion by 2029. This highlights a gap in the market that can be filled, allowing new businesses to take advantage of the Internet and selling your products and services on the Internet, through social media or online stores.

The evolution of e-commerce

E-commerce is a revolutionary invention that has changed the way we interact with online shopping, providing security, convenience and peace of mind. Michael Aldrich’s unique online shopping concept laid the foundation for the modern e-commerce experience.

Since then, the Internet has played a key role in improving online shopping. Further development is the result of top-notch shopping platforms such as eBay, Shopify, Amazon, etc. E-Commerce is one of the largest shopping media in the world.

Here’s a quick timeline of the history of e-commerce.

1. Start shopping online

In 1979, Michael Aldrich presented the world with a unique idea. The English investor pioneered online shopping by connecting his TV to his computer via telephone lines. He called this system Videotex, which is the first online shopping application.

In 1994, Amazon appeared on the horizon, becoming the beginning of an e-commerce giant. As the world’s most influential platform, Amazon has leveraged Netscape’s SSL security layers to ensure online transactions and purchases are secure.

Modern e-commerce platforms use a robust payment gateway like CoinGate to ensure online transactions are secure. This payment gateway makes currency conversion easy for customers and e-commerce businesses. It also supports fiat and cryptocurrency, making purchasing products and services online easy.

2. eBay and the beginning of the dotcom

A year later, in 1995, Pierre Omidyar founded eBay. As a great and feature-rich platform for buying and selling products online, eBay has become a well-established e-commerce site.

Thanks to various e-commerce applications and startups, the web and the Internet have seen significant growth. Many dotcom websites were created and attracted huge investments until 2000, when the dotcom bubble ended.

3. Use of mobile commerce

In the early 2000s, broadband internet gained popularity in the technology market. This has resulted in a better and faster online shopping experience thanks to well-managed logistics and fulfillment, which has resulted in reduced shipping and delivery times.

Moreover, eBay introduced its mobile application in 2005. With the rise of mobile phones at that time, creating a mobile app was a step in a progressive direction for various e-commerce startups.

4. The beginnings of social media

The development of the Internet has paved the way for improved social connectivity through social networks. The creation of e-mail facilitated communication and connectivity thanks to the Internet. Six Degrees became the first social media platform to support email, voice chat and instant messaging.

Since then, Facebook, Twitter (now X), YouTube, etc. are some of the most popular social media applications with millions of active users around the world. According to Statista, over 5.17 billion users use social networking sites.

These platforms offer the best functionality for e-commerce businesses. For example, Facebook, Instagram, Pinterest and many other social media sites make online shopping easier with built-in features.

5. Artificial intelligence-based e-commerce

Artificial intelligence (AI) has transformed e-commerce with automated features. Thanks to various AI-based chatbots, creating content for e-commerce stores has become easy and efficient.

Moreover, predictive analytics and other data analysis techniques have delivered comprehensive results for e-commerce providers. These features enable personalized shopping experiences as they help businesses understand customer behavior, spending patterns, etc.

Final verdict

In the shopping ecosystem, e-commerce has gained popularity due to its robust and easy phenomenon. It not only makes shopping easier for buyers but offers convenient methods for sellers. This can help you gain lucrative online shopping and selling opportunities. Artificial intelligence plays an important role in the timeline and history of e-commerce development.