The Rise of Online Shopping

The Rise of Online Shopping by Jennifer Loganathan

Most of us remember a time when Ecommerce was obsolete. Many industry professionals believed it to be a fad that would fade away just like high top sneakers or bell bottom jeans. Who would want to sit there waiting for pages to load and risk fraud or identity theft to purchase something online? In there early stages of ecommerce, this was the reality, but as the level of internet technology improved and new security measures were taken, a world of online commerce possibilities sprang into motion.

The increase in bandwidth and speed for the average user has been dramatic in the past ten years. Previously, everyone was tied to a dial-up connection, which made surfing the web, much less making a purchase, an exercise in extreme patience. Today, many users are enjoying the speed of cable, dsl, wifi, and wireless connections, providing them with almost instantaneous page search results. This has increased the usage of the Internet on every avenue, from research to email and especially with online shopping.

As connection speed began to improve, a number of hackers began to realize the fragility of non-secure online connections and began to steal the identities and money of thousands of people. This turned many customers away from online shopping, in fear of being taken advantage of and caused online venders to have new determination in finding a better way to conduct business. Thus, encryption came into the picture. Encryption is the single most effective method for transferring data securely. In order to read a file that is encrypted, the user must also have the encryption key or password, which allows the message to be decrypted. With encryption came virtually absolute privacy for important data, such as payment information, which paved the way for online retailers to set up secure and trustworthy marketplaces. There are now various ways to accept payments. Credit card merchant accounts are the most popular and effective, making it possible for individual businesses to process credit card payments without the use of a third party website.

With the possibility of online business as a safe way to do business, a flood of retailers, service providers, and other establishments began to create an online presence. The cost of an online storefront is so much less than an actual brick and mortar store because there is very little need for employees and there are no building costs or utility bills to pay. Not only is it less expensive, but it is not specific to only one area. A website can service anyone, virtually anywhere in the world. Many established retailers began to create an online shopping presence to expand their businesses to the global marketplace.

No one can foresee the future of online shopping, but it continues to rise in popularity and profits. The convenience of purchasing goods and services without leaving the comfort of your own home is becoming more appealing to many people around the world. As technology increases in efficiency, we can only assume that this will enhance the online shopping experience, thus making ecommerce more accessible, convenient, and enjoyable for everyone.

About the Author: Jennifer Loganathan is the President and CEO of Stradafee Limited. Stradafee is an electronic payments company as well as an eCommerce and Internet merchant account provider. Merchant accounts make it possible for businesses to provide online credit card processing. For more information on credit card processing visit www.stradafee.com.

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